Argentina Aims to Double Mining Exports to $10B by 2027 with Lithium and Copper Projects

Argentina plans to more than double its mining exports from $4 billion to $10 billion by 2027, driven by new lithium projects coming online and efforts to expand copper output, the Argentine Ministry of Mining said on Wednesday.

Luis Lucero, Argentina’s newly appointed Mining Secretary, told Reuters that the country is positioning itself to become a major global supplier of lithium and copper, as demand for electric vehicles grows.

Argentina is currently the world’s fourth-largest lithium producer, behind Chile and China, but aims to become the leading producer with the launch of several new projects.

“Argentina has an important window of opportunity with lithium and copper to be a supplier in the international trade of these metals,” Lucero said in written comments to Reuters.

Lucero outlined Argentina’s goal to produce 200,000 tonnes of lithium carbonate equivalent annually by late 2025 or early 2026, eventually increasing to 250,000 tonnes per year, making lithium the country’s largest mineral export.

Despite Argentina’s ambitions, concerns persist over global lithium demand amid rising production in China that has led to significant stockpiles. Analysts caution that technological advancements may not keep pace with the growing supply, potentially reducing lithium’s role in battery production.

However, the uncertainty has not deterred investment from major energy firms, with ExxonMobil recently signing a preliminary agreement to supply lithium to South Korean battery manufacturer SK On, following its lithium drilling activities in Arkansas.