The official monthly report indicated that this type of products represented 78.2% of the total mining exports of the month, highlighting the participation of gold with US$169 million (63% of the total exported) and the silver with US$34 million (13% of the total). The remaining US$6 million (2.4% of total exports) were explained by other metalliferous minerals, mainly by lead.
In April, the value of exports of gold presented a year-on-year increase of 14.5% (21 million more than in 2023), explained by an increase in exported volumes.
Meanwhile, exports of silver In the month analyzed they fell 42.4% year-on-year (25 million less than in 2023), explained by a decrease in export prices and also by a decrease in exported volumes.
Gold and silver: accumulated metal exports in 2024
In the accumulated of the first 4 months of the year, the metalliferous minerals They added exports for US$897 million. This implies a year-on-year drop of 6.9%, where the gold contributed US$734 million (65% of the total exported), the silver US$143 million (13% of the total exported) and the rest of the metalliferous minerals US$20 million (2% of the total exported).
In this way, in the first 4 months of 2024, gold shows a year-on-year growth of 6.3% in the amounts exported, while silver fell by 44.7% year-on-year.
Currently, in the country today there are only nine gold and silver mines in production with 70,000 ounces equivalent per year: 1 in Salta, 2 in Jujuy, 1 San Juan and 5 in Santa Cruz. However, according to the president of CAEM, Roberto Cacciolawith this level of exploration a better future is not foreseen for metals.
“The majority of gold and silver projects have between three and four years of useful life, and that is very little. We must quickly incentivize the projects that are there because you do not have any to replace one that may disappear,” said the head of the chamber of mining companies.
At CAEM they calculate that it is necessary to triple the exploration in gold and silver to sustain the activity. “It is necessary to explore 500,000 meters per year”said the head of the mining chamber, at a cost of between US$200 and US$600 per meter, depending on the area if it is flatter or mountainous in height. Total, It is estimated that around US$200 million in exploration per year will be needed for Argentina tothe land of silver and gold, continue exporting those minerals.
She was the executive director of CAEM, Alejandra Cardonawho at the last celebration of Mining Day in Córdoba remembered the origin of the word Argentinawhich refers to Latin argentumwhat does it mean silver. “Back in the 16th century, one of the first explorers who set foot on these lands called it Terra Argentea. There is a map from the time with this name. He said it was because of the abundance of metals. The Terra Argentea became the Tierra del Plata, then… the Río de la Plata, and it was called that until almost the middle of the 19th century,” Cardona said. Today, that entire history seems to be faltering due to the lack of incentives for new explorations.
Lithium exports in April 2024: rise in the ranking
For the case of lithiumIn April, a total of US$46 million was exported, which implied a year-on-year drop in exported amounts of 37.7%, mainly due to the abrupt decline in prices: The ton of lithium equivalent plummeted in the first months of the year from US$84,000 to about US$15,000 on average.
In this month, the lithium It occupied the number two position of the most exported minerals, improving compared to the previous month, where it occupied the number three position. Thus, the lithium It explained 17.3% of total mining exports in the month under analysis.
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The main export destination for lithium in April was China, followed by the United States.
Due to the drop in prices, in the first 4 months of 2024, sales of lithium abroad reached US$191 million, decreasing 37.9% year-on-year.
However, those US$191 million represents 16.9% of total mining exports, which reveals that “white gold” occupies the second best position in historical terms of exports for the first four months. The first best was in 2022, with higher exported amounts.
As for the exported quantities of lithium, in the accumulated so far this year they showed an increase of 58%. And this data is not minor. More quantities are expected within the next few months, because last June The third of the projects in production, from the EXAR Mining Company, was launched.
Experts assure that despite the low prices compared to the past, exportable levels of lithium will trend upward, when theEramine project in Salta enters production starting next July. By the end of 2024 the numbers will be records, they say.
Mining: the rest of the exports
The rest of the mining products totaled US$12 million exported in April, which represents a year-on-year decrease of 5.7%. The stoppage of public works ordered by the Government of Javier Milei at the national level had a full impact on this area. This is another of the concerns of CAEM and the stone business chambers, which advocate for a restitution of at least provincial public works.
- US$7.4 million non-metalliferous minerals (borates, orthoboric acid and bentonite).
- US$4.6 million application stones (lime accounts for 79% of the item).
In the accumulated of the first 4 months of 2024, the rest of the exports reached US$46 million, having a year-on-year decrease of 1%.
Main destinations of total mining exports
Switzerland, China, United States and Canada They were the main destinations for mining exports in April, absorbing 82% (US$219 million) of total sales. In the annual accumulated, These countries represented 75% (US$852 million) of exports.
Sales to these four countries were dominated by metal minerals, which made up 82% of total exports in both April and the first four months of 2024.
In turn, these 4 destinations explained 78% of total metal exports in the first 4 months of 2024. The remaining 22% of exports in this category were destined mainly to countries India, Belgium, South Korea, Chile and Peru.
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Argentine lithium. China increased its participation in lithium exports by 138% in the first four months, compared to the first four months of 2023.
Who is the big buyer of Argentine lithium?
By the lithiumAs with metal minerals, exports are concentrated in a small number of destinations. China and Germany accounted for 88% of lithium exports in Aprilwhile in the accumulated of the first quarter it was satisfied with the ranking: China, the United States and South Korea.
The great purchase of lithiumwith investments in more than 50% of Argentine projects, It was China, which increased its participation in lithium exports by 138% compared to the first four months of 2023.
