Argentina's mining exports will be close to $4.5 billion in 2023

Argentina's mining exports will reach about $4.5 billion in 2023, higher than total exports in 2022, thanks to strong prices and the start of new lithium mines, the head of the country's mining owners' Chamber said late Thursday. Roberto Cacciola, who has just taken over as president of the Argentine Chamber of Mining Entrepreneurs (CAEM), said in an interview that final exports will be closer to $4.4 billion or $4.5 billion by 2023. Official figures show that the country's mining exports totaled $3.8 billion in 2022.

Cacciola said the growth was mainly due to the launch of the country's third lithium project, in the northern province of Jujuy, jointly owned by China's Ganfeng Lithium and Canada's American Lithium. Two more lithium projects will expand production, and six more are under construction. "We estimate that lithium investment could exceed $1 billion in 024," Cacciola said. Still, Cacciola added that exports of the country's current two main metals, gold and silver, will fall from $3.2 billion in 2023 to around $3 billion next year due to a lack of investment. In due course, lithium exports will "inevitably" surpass those of both metals.