Mining Exports Represented 9.1% of Total Argentine Exports

Mineral exports during August 2024 reached US$550 million, accumulating a total of US$2.736 billion in the first eight months of the year. This information comes from a recent report by the National Mining Secretariat, presented at the end of September.
_**By Panorama Minero**_
These figures indicate that mining exports accounted for 9.1% of total Argentine exports in August and 5.4% in the cumulative total for the first eight months of 2024. Compared to the same period last year, this reflects an annual increase of 79.9% in August and a 4.0% increase in the annual total. Furthermore, the total exported in 2024 is 13.7% higher than the average recorded between 2010 and 2023 for these months.
Of the US$550 million exported in August, US$484 million corresponded to metallic minerals, representing a year-on-year growth of 131.4% compared to August 2023 for this category. These products constituted 88.1% of the total mining exports for the month, with gold standing out at US$431 million (78% of the total exported) and silver at US$46 million (8% of the total). The remaining US$7 million (1.3% of the total) came from other metallic minerals, mainly lead.
In August, the value of gold exports experienced a remarkable annual increase of 179.2%, driven by a 751% rise in exported volumes and an increase in international prices. On the other hand, silver exports recorded a 9.4% decrease compared to the previous year, attributed to falling export prices.
In the cumulative total for the first eight months of the year, metallic mineral exports totaled US$2.259 billion, representing a year-on-year increase of 15.2%. In this context, gold contributed US$1.876 billion (69% of total exports), silver US$339 million (12% of total), and other metallic minerals amounted to US$45 million (2% of total exports). As a result, this category represented 82.6% of total mining exports, while in the first eight months, gold showed a year-on-year growth of 30.5% in exported amounts, and silver saw a decline of 29.9%.
Regarding lithium, total exports amounted to US$50 million in August, reflecting a year-on-year decrease of 38.4%. In that month, lithium occupied the second position among the most exported minerals, improving from the previous month, when it ranked third. Thus, lithium accounted for 9.2% of total mining exports in August. This annual decline is explained by a decrease in international prices.
In the cumulative total for the first eight months of 2024, lithium sales abroad reached US$374 million, with a year-on-year reduction of 34.8%, representing 13.7% of total mining exports. This figure ranks as the third-largest historical record for the first eight months of any year, with 2023 being the year with the highest exported amounts. In terms of quantity, lithium exports showed a 53.6% increase in the cumulative total for the year.