Argentina has a long mining history, and is named after the Latin word for silver, argentum. In modern times, the sector has lagged its peers in South America. With a basket of prominent gold, silver and lithium projects scattered across the vast country, mining exports are projected to exceed a record US$5 billion in 2025. But bigger changes are just around the corner, underpinned by a government and fiscal structure that has become increasingly focused on the mining industry.

Since introducing the Large Investments Incentive Regime (RIGI), several mining projects have applied for RIGI status, amounting to a projected US$33 billion in mining investments alone into the country, in addition to other critical sectors, such as energy, manufacturing and infrastructure. The Argentine state is banking on a litany of natural resources projects to provide its economy with a bed of export dollars that will stabilize its economy in the long term.

Though the mining export engine of today is the precious metals sector — primarily gold mined across Santa Cruz, San Juan and Jujuy — lithium export figures are also recovering and even expanding. The government is also counting on major copper projects in San Juan, Salta and Catamarca to add tens of billions of dollars in export earnings. Argentina is positioning itself as a critical materials supplier for the global energy transition, which will also include uranium production.