Global decarbonisation agenda drives Australian copper and lithium opportunities in Argentina
As the demand for critical energy transition minerals continues across the world, Argentina’s copper and lithium projects are taking off. This provides increased opportunities for Australian mining equipment, technology and services providers, especially those with solutions for decarbonising mining operations and cleaner energy alternatives. Argentina is among the world’s top 15 mining exploration investment destinations. Exploration investment hit its highest level in a decade in 2022. Exports are expected to more than double to $8.6 billion by 2025. Argentina currently has 18 operating mines, 95 projects at an advanced stage and more than 200 in the initial stages. By 2030, 8 projects that are under construction are expected to go into operation. The country’s largest potential lies in its lithium and copper reserves, which are critical to the world’s energy transition path. Opportunities for Australian miners in Argentina Australia is one of the leading countries exploring and investing in the extractives sector in Argentina. Over 20 Australian mining companies have invested in the market. Argentina has the world’s second largest lithium reserves, located in the Lithium Triangle, shared with Chile and Bolivia. It is the world’s fourth largest lithium producer. Two major lithium operating mines (Olaroz and Fenix) currently produce 37.5 k tons of LCE. With new projects coming into operation in the next few years, production is expected to grow to 290 k tons by the end of the decade. Argentina shares the same mountain range (the Andes) with Chile, the world’s largest exporter of copper. As demand for copper grows, investors have started to look on the other side of the Andes. This has created an investment boom in Argentina’s copper sector, with several large-scale projects coming into production in the next years. They include Josemaria, Pachon, Taca Taca, Los Azules, Filo del Sol and Valle de Chita. […]