1. Home
  2. Infrastructure Energy
  3. COAL & MINING
  4. Argentina Predicts Lithium and Copper Will Boost Metal Exports to $10 bn
Argentina Predicts Lithium and Copper Will Boost Metal Exports to $10 bn
COAL & MINING

Argentina Predicts Lithium and Copper Will Boost Metal Exports to $10 bn

29 Aug 2024 2 Min Read CW Team
Argentina's mining exports are projected to more than double to approximately $10 billion by 2027, up from around $4 billion this year, according to Mining Secretary Luis Lucero's statements to Reuters. This growth is attributed to the influx of lithium projects coming online and an emerging focus on copper.

In his initial remarks to international media since assuming office in April, Lucero indicated that lithium, a key component for electric batteries, would significantly drive the mining export surge, with several projects expected to commence production later this year.

The South American country is aggressively positioning itself as a major supplier of lithium and copper, which are crucial for the global transition to renewable energy sources for electric vehicles and artificial intelligence.

Efforts to revive copper production and attract major mining companies like BHP, Glencore, Lundin Mining, and First Quantum are expected to further boost exports as a promising pipeline of projects becomes operational in the coming years.

Lucero noted in written responses to Reuters that Argentina has a significant opportunity to become a key player in the international trade of lithium and copper. The secretariat did not accommodate requests for a spoken interview.

Under libertarian President Javier Milei, Argentina's government is pursuing a robust pro-business strategy in mining, aiming to revitalise the economy following years of debt, currency, and inflation issues.

Currently the world’s fourth-largest producer of lithium, Argentina aims to surpass larger producers such as Chile and China. Lucero projected that Argentina could achieve an annual capacity of 200,000 tonne of lithium carbonate equivalent (LCE) by the end of next year or early 2026, exceeding some earlier government estimates.

Argentina's mining exports are projected to more than double to approximately $10 billion by 2027, up from around $4 billion this year, according to Mining Secretary Luis Lucero's statements to Reuters. This growth is attributed to the influx of lithium projects coming online and an emerging focus on copper.In his initial remarks to international media since assuming office in April, Lucero indicated that lithium, a key component for electric batteries, would significantly drive the mining export surge, with several projects expected to commence production later this year.The South American country is aggressively positioning itself as a major supplier of lithium and copper, which are crucial for the global transition to renewable energy sources for electric vehicles and artificial intelligence.Efforts to revive copper production and attract major mining companies like BHP, Glencore, Lundin Mining, and First Quantum are expected to further boost exports as a promising pipeline of projects becomes operational in the coming years.Lucero noted in written responses to Reuters that Argentina has a significant opportunity to become a key player in the international trade of lithium and copper. The secretariat did not accommodate requests for a spoken interview.Under libertarian President Javier Milei, Argentina's government is pursuing a robust pro-business strategy in mining, aiming to revitalise the economy following years of debt, currency, and inflation issues.Currently the world’s fourth-largest producer of lithium, Argentina aims to surpass larger producers such as Chile and China. Lucero projected that Argentina could achieve an annual capacity of 200,000 tonne of lithium carbonate equivalent (LCE) by the end of next year or early 2026, exceeding some earlier government estimates.

Next Story
Infrastructure Transport
26 Nov 2024

Warangal Airport Project on Track for Timely Completion

Telangana has consistently experienced rapid growth since its formation, with a notable 70% increase in economic output over the past decade, driven primarily by the services sector concentrated around Hyderabad. However, regional disparities have led to uneven development across districts. In an effort to address this imbalance, the Telangana government has earmarked Rs 205 crore for the construction of an airport at Mamnoor, near Warangal. This will be the state's second airport, as it currently only has one, while neighboring Andhra Pradesh has more. The airport, capable of handling aircraf..

Read More
Next Story
Infrastructure Urban
26 Nov 2024

Belrise Industries Plans Rs 2,150 Crore IPO to Reduce Debt

Indian automotive component manufacturer Belrise Industries has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise Rs 2,150 crore through an initial public offering (IPO). The offering will be entirely a fresh issue of shares, with no offer for sale (OFS) component. The company is also considering a pre-IPO placement of up to Rs 430 crore, which could reduce the final size of the issue. Belrise plans to utilize Rs1,618 crore of the IPO proceeds to pay off its debt, which stood at Rs 2,463 crore as of June 2024. With a robust presence ..

Read More
Next Story
Infrastructure Energy
26 Nov 2024

Sarda Energy and SM Steels Secure Coal Mines in Latest Auction

Sarda Energy and Minerals Ltd and S M Steels and Power Ltd were successful in securing coal blocks on the second day of the 10th round of commercial coal mine auctions. Sarda Energy won a coal mine in Chhattisgarh with geological reserves of 102.268 million tonnes, while S M Steels and Power secured a block in Jharkhand with 77.9 million tonnes of reserves. These two blocks are expected to generate an annual revenue of Rs 339.06 crore once operational, with a capital investment of Rs 315 crore and employment for 2,839 people. The ongoing auction features nine blocks in total. On the first day ..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Warangal Airport Project on Track for Timely Completion
AVIATION & AIRPORTS
26 Nov 2024

Warangal Airport Project on Track for Timely Completion

Belrise Industries Plans Rs 2,150 Crore IPO to Reduce Debt
ECONOMY & POLICY
26 Nov 2024

Belrise Industries Plans Rs 2,150 Crore IPO to Reduce Debt

Sarda Energy and SM Steels Secure Coal Mines in Latest Auction
COAL & MINING
26 Nov 2024

Sarda Energy and SM Steels Secure Coal Mines in Latest Auction

ACC, NLC, and JSW Energy Win Coal Mines in 10th Round of Auction
COAL & MINING
26 Nov 2024

ACC, NLC, and JSW Energy Win Coal Mines in 10th Round of Auction

Bihar Cabinet Approves Rs 197 Crore for Infrastructure Projects
ROADS & HIGHWAYS
26 Nov 2024

Bihar Cabinet Approves Rs 197 Crore for Infrastructure Projects

RPP Infra Projects Secures Order from Bhabha Atomic Research Centre
ECONOMY & POLICY
26 Nov 2024

RPP Infra Projects Secures Order from Bhabha Atomic Research Centre

Zopper Raises Rs 211 Crore in Series D Funding to Expand Insurtech Platform
ECONOMY & POLICY
26 Nov 2024

Zopper Raises Rs 211 Crore in Series D Funding to Expand Insurtech Platform

Finance Ministry to Launch Digital Credit Assessment Model for MSMEs in December
ECONOMY & POLICY
26 Nov 2024

Finance Ministry to Launch Digital Credit Assessment Model for MSMEs in December

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000