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“This year (mining exports) could be above $5 billion or $5.2 billion.”
Roberto Cacciola, president of the Argentine Chamber of Mining Companies (CAEM), offering insight into the state of Argentina’s mining exports in 2025 (11)
Mining in Argentina has a long and complex history, stretching back centuries to pre-Columbian times and evolving through colonial exploitation, industrialisation, and into the globalised economy of the 21st century. The country's vast and varied geology—home to the Andes mountains, expansive plateaus, and rich mineral belts—has long made it a natural site for mineral extraction. From indigenous peoples who first quarried for pigments and basic metals to modern multinational operations extracting lithium, gold, silver, and copper, mining in Argentina reflects the country's shifting social, political, and economic landscape.
Before the arrival of the Spanish in the 16th century, indigenous groups in what is now Argentina engaged in small-scale mining primarily for utilitarian and ceremonial purposes. The Diaguita and other Andean cultures in the northwest, for example, extracted copper and iron oxide to craft tools, weapons, and dyes. However, it was with Spanish colonisation that mining became a key economic activity. The Spanish initially focused their attention on the more mineral-rich areas of Peru and Bolivia, particularly the famed silver mines of Potosí, but they did exploit some mineral deposits in northwestern Argentina, particularly in Jujuy, Salta, and Catamarca provinces.
Throughout the colonial and early post-independence period, mining remained largely artisanal and regionally focused. It was not until the late 19th and early 20th centuries, in the context of Argentina's broader economic modernisation and infrastructure development, that mining began to industrialise. This shift was aided by foreign investment, particularly from British and American companies, and the establishment of rail networks that allowed minerals to be transported from remote regions to urban centres and ports.
The 20th century saw intermittent booms and busts in the mining sector, closely tied to global commodity prices and political instability. During the Peronist era in the mid-20th century, the Argentine government nationalised several industries and attempted to assert greater control over natural resources, including mining. However, a lack of technological investment and inconsistent regulation limited large-scale development. By the 1970s and 1980s, while neighbouring countries like Chile and Peru were becoming major global mining players, Argentina's sector remained relatively underdeveloped.
A significant turning point came in the 1990s, under President Carlos Menem's neoliberal reforms. These policies liberalised the economy, encouraged foreign direct investment, and revamped the Mining Code. The legal and fiscal framework established during this period remains influential today, offering long-term stability for investors and low royalty rates. This led to a wave of international interest and major discoveries, particularly in gold and copper. Projects such as the Veladero and Pascua-Lama mines in San Juan Province marked a new era of large-scale, high-tech mining operations.
More recently, mining in Argentina has been shaped by the global energy transition and the rising demand for lithium. The country is part of the so-called "Lithium Triangle," alongside Bolivia and Chile, which holds more than half of the world's known lithium reserves. Northern provinces such as Jujuy, Salta, and Catamarca have become hotspots for lithium brine extraction, making Argentina one of the world's top producers of this critical battery metal. While this boom presents substantial economic opportunities, it also raises environmental and social concerns, particularly regarding water usage and indigenous rights.
Argentina's mining sector is experiencing a pivotal moment of growth and transformation. As of 2025, mining exports are projected to surpass US $5 billion, climbing from around $4.6 billion in 2024, according to the Argentine Chamber of Mining Companies (CAEM). (1) This reflects robust momentum despite challenges in mature metal operations and volatile commodity pricing.
Gold continues to dominate the export mix, contributing approximately 68% of total mining export value in 2024, with exports totalling about US $3.14 billion. (2) Silver remains a key export, accounting for roughly 14% of the sector's revenues. While volumes from long-established gold and silver mines are expected to plateau or slightly decline due to resource depletion and cost-related pressure, high global metal prices are helping sustain earnings.
Meanwhile, lithium has emerged as Argentina's fastest-growing mineral sector. As of early 2025, lithium production is forecast to reach 130,800 tonnes LCE, an impressive 75% increase over the 2024 output of about 74,600 tonnes. (3) Lithium export value is also rising rapidly, with forecasts for 2025 in the range of US $950 million, roughly 44% above the previous year, even as international prices soften.
On the investment front, Argentina's government has rolled out ambitious reforms—including ending capital and currency controls, and implementing the Large Investment Incentive Regime (RIGI)—to attract foreign capital and stabilise project economics. Major international players have responded. In May 2025, Rio Tinto's $2.5 billion Rincon lithium project in Salta received official state approval under RIGI. Earlier this year, another RIGI-approved project by Galan Litio, valued at US $217 million, moved forward, even as one Ganfeng proposal was rejected for failing to meet investment stipulations.
Copper, historically underdeveloped in Argentina, is now drawing renewed attention. The massive Taca Taca deposit in Salta is being positioned to rival major regional copper producers, potentially delivering up to a million tonnes of copper annually alongside gold and molybdenum by the late 2020s. Mendoza province, long resistant to mining due to its wine industry, is reconsidering copper development through the PSJ Cobre Mendocino project, which could begin production around 2028 if environmental approvals proceed.
Despite rapid expansion, environmental and social concerns—especially around lithium—are drawing scrutiny. Critics highlight the impact of lithium extraction on Indigenous communities and fragile ecosystems, accusing financing institutions like the World Bank of supporting exploitative practices under the guise of sustainability.
Legally, Argentina continues to strengthen its regulatory architecture. In late 2024, the national government updated its mining canon regime, raising fees for first‑category minerals (including lithium, gold, silver, and copper) by nearly 193%, effective for 2025. (4)
In summary, Argentina's mining sector in mid‑2025 is characterised by record export growth, a surging lithium boom, renewed copper development, extensive regulatory reform, and mounting environmental debate. As gold and silver mature, the strategic emphasis increasingly lies on transforming lithium and copper into sustainable pillars of national economic resilience (see also: Mine technology).
Gold
Silver
Lithium
Copper
Boron (and other industrial & base minerals)
In summary, gold and silver continue to dominate export value—together accounting for roughly 80% of Argentina's total mining exports—while lithium is the fastest-growing mineral by volume, now contributing around 14–18% of export value. Copper remains nascent but poised for expansion, and boron and other industrial minerals round out the portfolio. Mining in Argentina today is evolving rapidly under supporting public policy, investment frameworks like RIGI, and skyrocketing global demand for critical minerals.
Argentina's top five mined minerals are gold, silver, lithium, copper, and boron. Gold and silver account for the majority of mining export value, especially from provinces like Santa Cruz and San Juan. Lithium, extracted mainly from brine deposits in the northwest (Jujuy, Salta, Catamarca), is rapidly growing in importance due to global demand for batteries. Copper is an emerging focus, with major projects underway in San Juan and Salta. Industrial minerals like boron are also exported, though on a smaller scale.
Lithium is Argentina's fastest-growing mineral export. In 2025, production is projected to reach over 130,000 tonnes of lithium carbonate equivalent (LCE)—a 75% increase from 2024. Argentina is part of the "Lithium Triangle" along with Bolivia and Chile, and ranks among the top three lithium producers globally. Most of the lithium is exported to China, the U.S., and Japan, making it a strategic resource for Argentina's economic development. However, concerns persist regarding environmental impact and Indigenous land rights in lithium-rich regions.
Yes—Argentina has become increasingly attractive for mining investment, especially under the 2024–2025 government reforms. These include the Régimen de Incentivo para Grandes Inversiones (RIGI), which offers long-term tax and legal stability for large-scale projects. Major firms like Rio Tinto and Galan Litio have secured multi-billion-dollar approvals under this framework. The country's geological potential, combined with government support, makes it one of Latin America's most promising mining frontiers—though political risk, inflation, and infrastructure gaps remain challenges.
Today, mining in Argentina is a strategic industry with growing international importance. The government sees it as a key pillar for economic diversification and regional development, especially as it seeks to attract responsible investment and ensure community engagement.
As the world continues to transition to greener technologies, the country's mining sector stands poised to play an increasingly central role in the global supply of critical minerals. However, the challenge remains to balance economic growth with environmental sustainability and social equity—an enduring theme throughout Argentina's long mining history.
Delve deeper into one of our core topics: Miner safety
Boron is a naturally occurring element essential in glass, ceramics, agriculture, and detergents. In mining, it is typically extracted as borates, such as borax and boric acid. Argentina is one of the world’s top boron producers, with major reserves in Salta and Jujuy provinces. Boron is valued for its heat resistance, structural strength, and role in micronutrient fertilizers. It is a non-metal but strategically important in both industrial and agricultural applications.(10)
References:
(1) https://www.indembarg.gov.in/content/Mining-in-Argentina-2025_1.pdf
(2) https://discoveryalert.com.au/news/argentinas-mining-export-growth-2025-record-projections
(3) https://www.reuters.com/latam/negocio/MQ4KZCYLY5OOXO54TPKWOAARYE-2025-04-08/
(5) https://www.argentina.gob.ar/sites/default/files/mining_in_argentina_1.pdf
(6) https://www.riotimesonline.com/argentinas-mining-exports-surge-on-gold-prices-lithium-output/
(7) https://en.wikipedia.org/wiki/Los_Azules_mine
(10) Garrett, D. E. (1998). Boron: Chemistry, Environmental Impact, and Health Effects. Springer.
(11) https://www.intellinews.com/argentine-mining-exports-set-to-exceed-5bn-in-2025-391792
Note:
This article was partly created with the assistance of artificial intelligence to support drafting. The head image was generated by AI.