Argentina








Oil & Gas

Fossil Fuels

Fossil Fuels

CERAWEEK - Petrobras looks for opportunities in Argentina, Colombia and Africa

Sylvia dos Anjos, head of exploration and production at Petrobras, said that the company is looking for opportunities in Argentina and is also advancing projects in Colombia and Africa. Anjos, speaking at the CERAWeek Conference in Houston, said that the gas from the Vaca-Muerta region could be of interest to Petrobras, as a pipeline linking Argentina, Bolivia, and Brazil can be used to transport the gas. She said the company could also search for oil opportunities abroad, since Petrobras is actively seeking to replenish its reserves of oil through overseas projects due to difficulties in obtaining environmental permits to drill...

Energy Markets

JPMorgan says that Argentine and Turkish stocks could return more than 20% this year.

J.P. Morgan has said that equity markets in Argentina, Turkey and other countries could see returns of over 20% this year. This is due to policy reforms designed to reduce inflation. In a note published on Tuesday, J.P. Morgan analysts said that the lifting of capital controls could be a positive for Argentina. They also noted that Turkey's continued path towards lower inflation and interest rates may boost its equity market. According to JPM estimates, Argentina's Merval index is currently trading at nine-times its 12-month price-to earnings (PE) ratio. The BIST 100 Index in Turkey trades at seven-times. Both indexes...

Fossil Fuels

Argentina privatizes state metal company in Milei era

Argentina's government has privatized metallurgical firm IMPSA, the economy ministry stated on Wednesday, marking its first privatization considering that libertarian President Javier Milei took power just over a year ago guaranteeing to diminish the state. The company's shares will be moved to the U.S.-based consortium Industrial Acquisition Fund (IAF), whose leading partner is Arc Energy, according to an official announcement on Wednesday. A government commission evaluated quotes for IMPSA's sale and recommended awarding shares held by provincial and national governments to the IAF consortium. Milei campaigned on pledges to downsize Argentina's government by cutting and privatizing state-owned companies state financing...

Natural Gas Utilities

Brazil and Argentina consent to studies on gas exports from Vaca Muerta, says source

Brazil and Argentina signed a memorandum of understanding (MOU) on Monday to study the advancement of infrastructure for natural gas exports to Brazil, according to a source near to the matter. The MOU will create a working group to identify the steps needed to make the supply of gas from Argentina to Brazil practical, with emphasis on gas from Argentina's huge Vaca Muerta development, Brazil's Energy Ministry said in a statement revealing the agreement was to be signed. The working group will evaluate possible paths for the gas to reach Brazil, including the turnaround of flow of Bolivia's. pipeline, a...

Energy Markets

Why EU farmers are upset about Mercosur deal

A trade contract in between the European Union and Mercosur countries, which includes a. significant area on farming, has triggered demonstrations from. EU farmers who argue farm imports from South America do not meet. European requirements. The agreement dating from 2019 and published on the. Commission website has yet to be embraced. It includes the. facility of import quotas of specific farming products. from Mercosur nations, including Argentina, Brazil, Paraguay. and Uruguay, either duty complimentary or at lowered levy. The agreement would also give EU farmers increased access to. South American markets which could enhance exports of products. such as...

Fossil Fuels

COP climate talks not fit for function and need reform, state environment leaders

A group of previous leaders and climate specialists said the annual U.N. police officer climate talks were no longer suitable for function and needed to be reformed, releasing a. crucial open letter midway through what has actually up until now been a. fractious summit. Almost 200 nations are gathered in Baku, Azerbaijan with a. main goal of agreeing a new target for how much cash needs. to be provided to assist developing nations adapt to environment. modification and recuperate from destructive weather. Up until now those talks have actually made little development. Delegates struggled for hours on the opening day...

Climate Change

Police officer environment talks not fit for function and need reform, say climate leaders

A group of previous leaders and environment experts stated the annual U.N. police officer environment talks were no longer suitable for purpose and required to be reformed, publishing a. crucial open letter midway through what has actually up until now been a. fractious summit. Almost 200 nations are gathered in Baku, Azerbaijan with a. main goal of agreeing a new target for how much money needs. to be provided to assist developing nations adjust to climate. modification and recuperate from harmful weather condition. So far those talks have made little progress. Delegates struggled for hours on the opening day to...

Oil & Gas Drilling

Senior aide to Argentina's Milei says Shell considering financial investment in LNG task, according to report

The cabinet chief to Argentine President Javier Milei cited oil major Shell as a. possible investor in a future liquefied gas (LNG). job to be run by the nation's state oil firm YPF. , according to paper La Nacion. Cabinet Chief Guillermo Francos stated at an occasion that the. Anglo-Dutch giant has actually shown strong interest in a potential. investment in LNG together with YPF, according to La Nacion. Shell did not right away respond to an ask for remark. One LNG project led by YPF has already seen significant. advances. The $55 billion preliminary stage of the LNG tie-up...

Fossil Fuels

Argentina's trade surplus nears $16 billion under Milei

Argentina likely had actually a. trade surplus for the tenth straight month in September under. libertarian President Javier Milei, helping to collect an internet. $ 16 billion in hard currency considering that he took office, analysts said. in a Reuters survey on Wednesday. The South American country, which is facing triple-digit. inflation, an unpleasant recession and depleted foreign currency. reserves, had a trade surplus of $1.28 billion in September, the. average expert price quote showed. That would add up to a net surplus of around $16.5 billion. since December, when Milei took workplace vowing a significant shake-up. of the economy....

Fossil Fuels

Argentina's YPF decreases gas costs for the first time in over 5 years

Argentina's state oil company YPF said on Monday it will lower gas and gasoil prices starting on Tuesday. The firm's cost decrease will be 4% on fuel and 5% on diesel, however the influence on pump prices will be restricted to reductions of 1% and 2%, respectively, YPF said in a statement. The reduction will not be straight shown at the pump, because there is a 3% boost in the price of gas as a. outcome of the Argentine peso's decline and the tax boost,. YPF stated. The company likewise kept in mind that its choice to cut fuel prices....

Fossil Fuels

India, US most likely to sign pact on critical minerals, sources say

India and the United States are most likely to sign an initial pact for cooperation on vital minerals this week, two federal government sources said, as the 2 countries attempt to reinforce trade ties despite diplomatic hiccups. They are expected to sign an agreement to partner and work together in the location of important minerals during Indian trade minister Piyush Goyal's see to Washington, the sources said. Goyal is set up to be in the U.S. today to go over methods to deepen total bilateral trade ties, according to among the sources, weeks before the White Home's preparation for a....

Fossil Fuels

US may get involved in Argentina dispute over $16 billion YPF judgment

The U.S. federal government said on Monday it might get associated with a disagreement over whether Argentina should quit its 51% stake in oil and gas business YPF to assist satisfy a $16.1 billion court judgment. In a letter filed with the U.S. District Court in Manhattan, the U.S. Department of Justice said it is actively thinking about whether to submit a so-called declaration of interest, which it can file when a case touches on its sovereign interests. Argentina is appealing U.S. District Judge Loretta Preska's. decision last September to award 2 financiers, represented by. litigation funder Burford Capital, the...

Environment

Environment

Argentina's soybean crop could suffer'significant losses" after storms

The Buenos Aires grain exchange warned on Monday that Argentina's soybean crop for 2024/25 could be affected by "significant losses" due to recent storms in the northwestern Buenos Aires Province. This may force the exchange to reduce its forecast. The exchange estimates the soybean crop to be a respectable 50 million metric tonnes, but stated in its report that heavy rains may further delay harvesting the grain which is already slow and could cause damage to plants. The exchange reported in a report on the storms' impact that 730,000 hectares (about 1.8 million acres) of soybeans are still unharvested in...

Climate Change

Massive icefalls at Argentina's Perito Moreno Glacier cause awe and alarm

A deep cracking noise from the ice foretells the imminent dramatic fall. A block of ice 70 meters tall (230 feet) - about the height of a 20 story building - falls from the Perito-Moreno glacier face into the aquamarine waters below. Visitors to Argentina's most famous Glacier have been drawn by the sight for many years. They wait on platforms in front of the ice for the next crack that will split the cool Patagonian atmosphere. The size of ice fragments that are breaking off, a process known as "calving", has recently begun to alarm local glaciologists and guides,...

Environment

Argentina's soy harvest stalls after rains, meteorologist says

A meteorologist reported on Tuesday that Argentina's soy harvest, already delayed, has been further slowed down by heavy rains and humidity in Argentina's major agricultural regions. Rains in early April and March had caused Argentina's harvest to be behind schedule. The country is the world's biggest exporter of soy oil and meal. In an interview, German Heinzenknecht said, "The harvest is over." Heinzenknecht is a consultant at Applied Climatology Consulting. Experts and the data of the national weather service report that Argentina's grain belt has received between 30 millimeters and 50 millimeters (1.1 inches to 1.18 inches) of rain in...

Mining

Mineral Resources

Mineral Resources

Argentina approves $2.5 bln Rio Tinto lithium mining project

The Argentine government approved on Tuesday a $2.5billion lithium mining project of Anglo-Australian Rio Tinto. This is the first mining project to be approved under a newly introduced investment incentive program. Daniel Gonzalez, the secretary for mining and energy coordination in Argentina, announced the approval of Rio Tinto’s Rincon project in northern Salta Province under the RIGI scheme at a press conference in Buenos Aires. The mining industry in Argentina has expressed concern over the delays in the approval of seven projects that have been submitted to the government after the RIGI programme was launched nine-months ago. Roberto Cacciola of...

Mineral Resources

Grisly Peru mine murders highlight 'golden curse' in Andes

Frank Monzon, a Peruvian miner, was well aware of the risks involved in his work. However the allure of gold deep within the Andean rock that covers the northern Pataz Province outweighed them. He and 12 other miners are now dead in the worst mining massacre in Peru's history. The authorities in Peru's gold rich north halted mining activities this week and sent the military in after the police recovered the bodies from the Lidmar Mine after they had been kidnapped and murdered by illegal miners a month ago. Lidmar worked in agreement with Poderosa, Peru’s second largest gold producer....

Mineral Resources

Mining group Eramet keeps 2025 output targets despite Q1 setbacks

Eramet, a French mining company, maintained its full-year production targets on Thursday despite lower manganese and Nickel volumes which contributed to flat sales in the first quarter. The company reported quarterly sales adjusted to 742 million euros (842 million dollars) and said that sales volumes at its manganese mining in Gabon were down 15% on an annual basis due to a strike by workers and logistical issues at Owendo Port. Eramet, the Indonesian nickel ore miner, attributed this decline to destocking of local processing plants. The Chairwoman and CEO Christel Bories also attributed the "more difficult" than expected first quarter...

Mineral Resources

Official: India is exploring for critical minerals in Zambia and Australia

V.L., the Mines Secretary, said that India is looking at mining critical minerals in Zambia and Australia. Kantha Rao stated on Thursday that the fastest growing major economy in the world is looking to secure raw minerals such as lithium. Rao stated that companies like Coal India and ONGC Videsh explore critical minerals in Australia. India has been working to reduce its dependence on minerals like lithium, which is key for energy transition technologies. India is still developing the technology for processing lithium, a field dominated by China. Rao, in a press conference, said that the Zambian government had recently...

Energy Markets

China's Ganfeng begins lithium production at Argentina’s Mariana Project

The Ganfeng lithium mining company in China has started producing lithium in its Mariana project, located in northern Argentina. This is the first of many new lithium projects that are underway in South America. Ganfeng, one of the largest producers of white metal in the world is used primarily to manufacture rechargeable batteries. The Mariana plant in Salta province represents an investment of $790 million and is capable of producing 20,000 metric tonnes of lithium chloride each year. This comes from the extraction of the Llullaillaco flat salt. Ganfeng spent another $190 million on a solar park that will support...

Mineral Resources

McEwen Copper asks for major tax breaks on Los Azules Copper mine in Argentina

McEwen Copper is a Canadian subsidiary of McEwen Mining. It has requested to be included in an Argentine incentive program, which would provide significant tax breaks on its Los Azules Copper Project located in San Juan Province. McEwen intends to invest $2.7billion in the mine. The Argentine Government's Large Investment Incentive Regime has allocated $227 million to the project. This money will be used for the feasibility study of the mine, exploration work, and construction preparation. If approved, the company could invest an additional $2.5billion in the site for the construction of the mine and production facility under the incentives...

Mineral Resources

Chile's mining firm expects another global lithium surplus this year

Production cutbacks by lithium companies in response to low costs for the metal have tightened supply forecasts, however a worldwide surplus is still expected for 2024 and 2025, Chilean copper commission Cochilco stated on Thursday. The global market was expected to post a surplus of 89,000 lots of lithium in 2024 and 141,000 lots in 2025, according to a. report from Cochilco, Chile's government firm for mining. studies. Chile is the world's second-biggest producer of lithium, a secret. part for electric vehicle batteries. U.S.-based Albemarle. and Chile's SQM are the only business. extracting lithium in the South American nation. The...

Mineral Resources

Rio Tinto to form new lithium unit after Arcadium buy, memo says

AngloAustralian mining huge Rio Tinto prepares to produce a. standalone lithium department after it closes its $6.7 billion. acquisition of Arcadium Lithium, according to an. internal memo seen . The strategy reflects how carefully connected Rio CEO Jakob Stausholm. and his management group believe lithium is to the business's. future and the high worth they put on Arcadium's engineers as. part of the offer. Arcadium's investors authorized the sale last month and. closing is anticipated by July. The new company, Rio Tinto Lithium, will assume control of. Rio's $2.5 billion Rincon job in Argentina however not its. controversial Jadar lithium...

Mineral Resources

Financial Times - Dec 13

The following are the top stories in the Financial Times. Reuters has not confirmed these stories and does not attest their precision. Headings - HSBC evaluates retail banking outside UK and Hong Kong - De La Rue in talks over stake with Edi Truell-backed financiers - Rio Tinto to invest $2.5 bln in latest dedication to lithium - Lead overhauls charges for UK investors Introduction - HSBC is reviewing its retail banking operations outside the UK and Hong Kong, a move that might see it considerably downsize operations in nations including Mexico, as it seeks additional expense cuts. - Banknote...

Mineral Resources

Rio Tinto to invest $2.5 billion to expand Argentina lithium task

Rio Tinto will invest $2.5. billion to increase production capability at its Argentina lithium. project, it said on Thursday, as it seeks to cement its position. as one of the world's most significant miners of the battery metal. The investment follow's Rio's takeover of Arcadium Lithium. in a $6.7 billion deal announced in October, and as. prices of the metal utilized in electrical cars (EVs) are damaged. by Chinese oversupply and slowdown in EV sales. Following the purchase of Arcadium, Rio is on track to. become the world's 3rd largest lithium miner, behind leader. Albemarle and Chile's SQM. As part...

Mineral Resources

Argentina mining chamber says exports up slightly this year, most likely flat in 2025

Argentina's mining exports are anticipated to increase nearly 6% this year, raised by more lithium sales in addition to greater gold and silver rates, the head of the nation's top mining association said on Wednesday. Argentina's mining sector generated $4.06 billion in exports last year, fueled by the battery metal lithium and valuable metals gold and silver. Exports this year will likely approach $ 4.3 billion, said Roberto Cacciola, head of the CAEM mining association. The 2 metal types provided contrasting situations, he noted. Both gold and silver rates rose this year, assisting Argentina balanced out declining output in aging...

Mineral Resources

Rio Tinto-backed lithium tech start-up set to raise second round of funds

A lithium innovation start-up backed by Rio Tinto anticipates to settle a funding round in the next week to raise A$ 29 million ($ 19. million), even as the global lithium market has a hard time, its. Melbournebased CEO informed Reuters. ElectraLith is establishing a purification innovation that can. extract lithium from brine deposits without utilizing water or. chemicals, which would be key in arid areas like Chile's Atacama. desert, and requires only small amounts of energy. The lithium market is not great, equity capital markets. aren't great, (so) the fact we will close this round. with an oversubscribed financier...