Argentina achieved the top position in Latin America’s mining investment attractiveness index in 2023, surpassing Brazil and Chile. Despite historically ranking lower than other countries in the region, recent efforts to boost the mining sector are closing this gap, according to the National Mining Secretariat.
Salta emerged as the most attractive province for mining investments, scoring 77.24 and hosting various projects focused on lithium. The Centenario Ratones project by Eramine Sudamerica is set to produce lithium carbonate for export by the end of the year.
Aside from lithium, Salta also hosts copper, gold, silver, and uranium projects, making it a diverse mining landscape. However, San Juan, the top Argentine jurisdiction in 2022, faced a decline due to political turmoil.
La Rioja ranked poorly in the index, primarily due to criticism of foreign exchange restrictions and lack of transparency in mandatory local service hires. The government under Javier Milei is proposing new mining legislation to incentivize large investments and provide stability guarantees.
Despite proposed changes in mining legislation and negotiations with provinces, the Argentine Chamber of Mining Entrepreneurs has rejected the increase in maximum royalties from mining projects. The mining sector in Argentina is witnessing significant developments and discussions towards further enhancing its attractiveness for investors.