Lithium and copper take the lead
Argentina’s mining exports could increase fivefold over the next decade, with lithium and copper serving as the main growth drivers, according to BBVA Research. The findings appear in the report Situación Minería, which highlights the sector’s strong potential amid the global energy transition.
The report notes that Argentine mining is still in an early stage of development. The sector currently accounts for less than 1% of GDP and under 6% of exports, but “the country has one of the world’s most significant project portfolios and a major geological advantage in critical minerals for the energy transition,” the report says.
Lithium takes the lead
Lithium is currently the main driver of the sector’s expansion. Argentina ranks as the world’s third-largest producer and could supply up to 20% of global output by 2033. The country also has some of the most competitive production costs within the “Lithium Triangle” of Argentina, Bolivia and Chile.
In 2024, lithium surpassed silver in export value, accounting for nearly 14% of mining exports, with strong growth potential over the next decade.
Copper presents an opportunity
Argentina has not produced copper since 2018, but BBVA Research highlights a portfolio of international-scale projects — including Josemaría, Los Azules, Taca Taca, El Pachón and the new Vicuña project — that could reverse that trend. Together, these projects could attract an estimated US$35 billion in investment, including potential participation in the Large Investment Incentive Regime (RIGI).
If these projects come to fruition, copper exports could exceed US$11 billion annually by 2033, becoming a major driver of Argentina’s mining export growth.
Sector projections
BBVA Research estimates that, under a stable macroeconomic and regulatory framework, implementing these planned projects could quintuple current mining exports, surpassing US$25 billion annually by 2032–2033. Lithium is expected to lead growth in the short term, while copper will gain prominence in the latter half of the decade.