Don't we have some property next door to a copper play? Argentina: Exploration investment grows thanks to copper
Last weekend in “Argentina’s mining sector growth stalls” we noted how employment in
Argentina’s mining sector had topped out and even started a slightly decrease on a Year-over-
Year (YoY) basis for the first time in nearly four years, mostly due to the drop in investment in
the country’s large lithium projects. This weekend we bring better news with a focus on
exploration-only investment. According to the Argentine Exploration Companies Group (Grupo
de Empresas Exploradoras de la Argentina, known as GEMERA and headed by current McEwen
Copper country manager Michael Medina), FDI in Argentine mine exploration rose by 15.7%
compared to 2023, reaching a total investment of U$493.4m this year. If confirmed by
international bodies, that would put Argentina 6th on the world league table for mining
exploration dollars and notably in front of big mining destinations such as Peru and Brazil (the
top five being Canada, Australia, The USA, Chile and Mexico).
It’s all about copper and San Juan too, the nation’s favoured jurisdiction getting U$268.6m of
the above total and according to GEMERA (15) (translated):
“Growth is mainly driven by projects focused on copper, confirming it as the most attractive
mineral in Argentina, covering 54.4% of the total. In contrast, provinces such as Catamarca,
Salta and Jujuy saw reductions in the funds allocated to lithium exploration, due to the fall in
the prices of this natural resource.”
So now you know. New record in exploration dollars in the new best place to go mining in
LatAm and it’s all thanks to the big copper plays along the sweet spot of the Andean cordillera.