Mining exports from Argentina are expected to rise nearly 6% this year thanks to an increase in lithium sales and rising precious metals prices, according to the head of a local industry body.
Reuters quotes Roberto Cacciola, head of the CAEM mining association, as saying that Argentinian mineral exports will likely amount to nearly $4.3 billion in 2024. Last year, the country’s mining sector generated $4.06 billion in exports.
The rise is attributed to higher volumes of lithium shipments despite significantly lower prices, while gold and silver appreciated during 2024, offsetting declining output in aging mines.
"In gold and silver we will have a smaller quantity of product sold, but we will have more income due to a substantial price improvement," Cacciola said. "In lithium, the situation is the other way around."
The trade body chief expects that in 2025, mineral exports from Argentina will depend on prices and on how quickly new lithium mines can begin to scale up.
"There's no big expectation for exports in 2025 that's not tied to a pricing situation," Cacciola added.
Theodor Lisovoy, Managing Editor, Rough&Polished
