Argentina courts mining investments at PDAC

With a mining portfolio of 180 projects and US$29bn in announced investments, a mining delegation from Argentina looked to attract investments and promote exploration at the Prospectors & Developers Association of Canada (PDAC) convention this week.

At the event in Toronto, Argentina’s mining entrepreneur chamber CAEM focused on encouraging exploration in the country, not least because of the US$12.8bn budgeted globally in 2023 only US$426mn was earmarked for Argentina, said Nadav Rajzman, a CAEM economist.

The mining and energy secretary of Salta province, Romina Sassarini, highlighted the simplification of administrative procedures and policies that provide legal security to investors and facilitate the development of projects, according to a media report.

Despite the fragile economy and the failure to replace mining minister Flavia Royón after her forced resignation at the request of President Javier Milei, industry representatives strive to attract new players.

Last year, mining exports totaled US$4.02bn, up 4% after having grown 19% in 2022.

Argentina has 22 mining operations, 7 projects in construction, 12 at the feasibility stage, 4 in prefeasibility, 12 in preliminary economic assessment, 49 in early exploration, 45 in advanced exploration and 29 in the prospecting stage, according to documents presented by the delegation.

Of the total, 50 correspond to lithium as the country aspires to be among the top 3 producers of the light metal globally globally.

More details can be seen here. PDAC closes on Wednesday.