Argentina Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in argentina, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
Mining
Last published date:

The Argentine government has been encouraging foreign investment in mining through tax incentives, streamlined permitting, and policies aimed at reducing regulatory hurdles. Mining is regulated at the provincial level, with San Juan, Catamarca, and Salta provinces being the most mining-friendly. In 2024, Argentina signed agreements with the U.S. to strengthen supply chains for critical minerals, aiming to diversify its partnerships and reduce dependence on China. Argentina is also part of the U.S.-led Minerals Security Partnership, which seeks sustainable and community-friendly investments in critical minerals.

U.S. mining equipment and technology enjoy a 75 percent market share in Argentina. Given the market’s potential, U.S. suppliers of mining related technology should take advantage of current market dynamics and consider Argentina as a market for expansion.

Argentina’s mining sector holds significant potential. The country’s mineral resources remain largely untapped, but a substantial number of projects are in the pipeline. Argentina’s 2024 mining exports accounted for about $4.5 billion, achieving 6 percent growth YOY, and the country holds resources to expand production and achieve exports well worth over $18 billion per annum by 2030.

Argentina’s current top mineable ore minerals are gold, silver, and copper. In lithium, Argentina is home to the world’s third-largest reserves and is the fourth-largest producer. Although over 70 percent of Argentina’s proven lithium resources have not yet been prospected, lithium mining is the industry’s fastest growing segment.  Currently, Argentina has six lithium projects in production and more under construction. Lithium exports represent about 20 percent of total mining exports. Argentina’s lithium reserves are primarily found in salt flats (salares) in the Northwest provinces of Salta, Jujuy, and Catamarca. Major players include Lithium Americas, Lake Resources, Rio Tinto, and POSCO, among a variety of PRC companies.

Argentina’s $30 billion mining portfolio features over 100 projects. Copper mining projects represent well above 50 percent of the portfolio. The country ranks among the top destinations in South America for copper exploration, along with Chile and Peru. Argentina’s copper mining industry is a growing and strategically important sector. Argentina also features deposits of target minerals such as aluminum, boron, iron, molybdenum, potash, uranium, vanadium, and zinc. Argentina holds potential for a five-fold increase in mining exports in the next decade.

Another growing mining industry segment is silica sand used in hydraulic fracturing, which is a critical element to increase non-conventional hydrocarbon production in Argentina’s flagship shale basin, Vaca Muerta. Argentina is one of the top three producers and consumers of silica sand in the Mercosur bloc, which also includes Brazil and Chile. These three countries together represent over 80 percent of the regional production and 90 percent of consumption in this segment.

Argentina’s regulatory framework has positioned the marketplace as a preferred investment destination for lithium mining in contrast with neighboring markets. Argentina joined the Extractive Industries Transparency Initiative (EITI) in 2018, which is a global standard for good governance of oil and gas and mineral resources. The mining sector’s regulatory framework is governed by a specific mining investment law (No. 24.196), and new foreign investment promotion policy (Decree 234/21 & 836/21).

Resources

For additional information, including market analysis, trade events, contacts, and the products and services that the U.S. Commercial Service can provide to help you succeed in the Argentine market, please contact Marcelo Amden, Industry Specialist.