Argentina Mining Market Overview

Argentina Mining Market Overview
 Argentina has rich mineral reserves. Currently, Argentina's top minerals reserves are gold, silver and copper. Also, one of the most precious minerals found in Argentina is lithium. Argentina is the world's fourth leading lithium producer. According to the Argentina customs data, Argentina exports the majority of its minerals to Chile, Brazil, Paraguay, Uruguay, Russia and the United States. 

Lithium is the 52nd leading mineral export destination. As per Argentina export data reports, the overall mineral exports from Argentina were estimated at $3.6 billion with an year on year increase of 4%. Brazil, Chile, Taiwan, China and the United States were the top destinations for Argentina's mineral exports. 


In terms of mineral exports, Argentina is facing stiff competition from Australia, China and Germany. Whereas the fastest growing markets for the minerals exports from Argentina are Brazil (80%), Chile (11%) and Taiwan (1%). On the other hand, Argentina's mineral exports to France and Uruguay declined by a significant percent.


During 2023, Argentina's lithium exports had shown a record 133% increase in the first quarter. As the EV sector is fast approaching, the demand for lithium has grown significantly. It is mostly used in making EV’s batteries. Companies are looking forward to importing lithium from Argentina in order to boost their production. 


According to the Argentina import export data reports, there was around $233 million worth of lithium exported from Argentina in the first quarter of 2023. China and Japan accounted for the record 31% share of Argentina's total lithium exports. The United States and South Korea were other major markets for EV exports from Argentina. 


Foreign companies are investing heavily in Argentina's lithium mining industry. Ganfeng Lithium from China, Lithium Americas from Canada, Eramet from France and Pluspetrol Resources from Netherlands are some of the significant foreign investors in Argentina's lithium mining sector.


Whereas, Gold was the most exported item from Argentina with over 80% share in the country's overall mineral exports. In 2022, Around $2.2 Billion worth of gold was exported from Argentina with over 8% rise in exports volume. Switzerland, the United States and India were the top importers of Argentina's gold with over 96% share in the country's overall gold exports. 


Whereas, the country’s silver exports totaled to be $429 million in 2022. Switzerland, Canada, United States, Germany and Brazil are the top markets for Argentina's silver exports. On the other hand, Argentina’s copper exports totaled to be $ 3 million in 2022. Bolivia was the top destination for Argentina’s red metal exports with over 75% share followed by Colombia.


As per our Argentina import data, around $12 billion worth of minerals were imported by Argentina in 2022. These were mainly oils, fuels, bituminous products, etc. Argentina makes the majority of its mineral imports from China, Brazil and the USA. Argentina is a very potential market for import-export business owners. A data driven approach can lend you great opportunities in the Argentina market.


Exim Trade Data is the leading global import export data provider company offering the best business intelligence platform for import export companies. Through this portal, you can explore the latest trends, top performing countries, importers, exporters, ports volume, identify risks in the Argentina market and find more leads for your business. It is the most economical way to transform your business.

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