Argentina set for US$55 billion mining wave, with copper leading from 2028 |
Argentine business leaders estimate the country could attract US$55 billion in mining investment over the next decade, creating an opportunity to build a network of local suppliers that creates jobs and drives industrial growth.
The figures were laid out in a report released Wednesday by the Argentine Industrial Union (UIA, for its Spanish acronym), in partnership with the Argentine Chamber of Mining Companies (CAEM, for its Spanish acronym), the Inter-American Development Bank and the European Union.
The lithium boom and copper’s promise
One of the biggest investment magnets is lithium. The report estimated that production will continue to grow on the back of projects already underway, with another US$15 billion in investment expected.
Argentina already has eight lithium projects in production, according to the Mining Secretariat. Another four are under construction, five are at the feasibility stage, and 30 are in advanced exploration, while the remaining 15 are at initial exploration and prospecting.
Lithium production in Argentina is concentrated in the provinces of Catamarca, Jujuy and Salta, which form part of the so-called “lithium triangle” — a region the country shares with........