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Argentina official says lithium, copper to drive metal exports to $10 bln by 2027

Argentina's mining exports will more than double to around $10 billion in 2027 from some $4 billion this year, the nation's Mining Secretary Luis Lucero told Reuters, driven by a wave of lithium jobs coming online and a nascent push into copper.

In his very first comments to worldwide media since taking office in April, Lucero stated electrical battery metal lithium would be the key driver of the mining export boom, with a batch of tasks set to go into production later on this year.

The South American nation is making an aggressive push to cement itself as an essential provider of lithium and copper, both important for the international drive to construct renewable resource to power electric lorries and artificial intelligence.

An effort to restart copper output, tempting majors such as BHP, Glencore, Lundin Mining, First Quantum and others, will also improve exports when a. appealing pipeline of jobs browses the web in coming years.

Argentina has an essential window of opportunity with. lithium and copper to be a supplier in the worldwide trade. of these metals, Lucero said in written reactions to Reuters. The secretariat decreased ask for a spoken interview.

Argentina's federal government under libertarian President Javier. Milei is making a significant pro-business push on mining, wanting to. pull the economy out of economic downturn after years of debt, currency. and inflation crises.

The nation is currently the world's No. 4 producer of lithium. and is wanting to capture larger producers Chile and China.

Lucero stated Argentina may be able to strike yearly capability of. 200,000 lots of lithium carbonate equivalent (LCE) by the end of. next year or early 2026, up from simply under 140,000 heaps now. This would beat some previous federal government projections.

This would get us closer to third location among lithium. producing nations, Lucero stated, including Argentina might get to. 250,000 loads in the coming years. With these production levels,. lithium would end up being the nation's primary mineral export.

A still-swirling economic crisis remains a major challenge. with yearly inflation above 200%, difficult capital controls and a. deepening economic downturn, however Milei's federal government has won support from. markets and organization with incentive steps for big investment.

Lucero stated the brand-new steps, understood by the Spanish acronym. RIGI, include tax breaks and much better access to foreign currency. for big tasks. He stated this would assist bring an increase of. new financial investment.

He included key lithium projects required capital expenditure. over $8 billion to get up and running, while the main copper. tasks need some $20 billion. He mentioned significant difficulties of. enhancing energy facilities and road connectivity.

The mining secretary included that the government was looking. to extend the helpful life of mature however decreasing silver and. gold mines, previously the primary mining chauffeur, while there was. likewise smaller investments in expedition and growth..

(source: Reuters)