The Argentine Chamber of Mining Entrepreneurs (CAEM) noted that the mining industry in Argentina was working at 70pc of its production capacity in 2020 due to the impact of the COVID-19 pandemic. CAEM also added that small and medium-sized mining companies operated at 40-50pc capacity. Some Argentinian provinces imposed health restrictions which affected the mining operations.
Mining exports were valued at $3.23bn in 2019, down from $3.45bn in 2018, according to figures from the government. Argentina has a portfolio of 34 mining projects which involves $27.2bn in investments; with copper representing more than 61pc of the funding.
The country is also mulling development of seven copper projects across the country to triple its mining exports to $10.7bn in 10 years. These projects would require an investment of $25-30bn over the next 4-6 years. Overall, these mines would together produce 50mn mt of copper per year.