In return, companies must meet certain requirements. One will be to present a supplier development program national, provincial and local. The commitment to incorporate value added local value by cooperating in generating the conditions for the industrialization of natural resources, especially lithium.
The initiative is aimed at meeting three objectives, according to the Ministry of Economy: ensure the future production of current projects, boost exports and extend the useful life of some of the active projects.
By ensuring mining production, they explain, “we are not only ensuring a flow of foreign currency income, which allows us to strengthen the reserves of the Central Bank, but also jobs.”
mining exports
So far this year, until July, mineral exports accumulated a total of 2,209 million dollarswith an increase of 31% year-on-year. The official projection is that the external sales of the sector should reach 3,900 million dollars in 2022 – more than 20% increase over the previous year– . Consequently, it is estimated a foreign exchange inflow for the remainder of the year of around 1,700 million dollarsabout 600 million more than 2021.
Despite these increases, the export of minerals from Argentina has a long way to go, according to specialists. Suffice it to say that Chile sells abroad 14 times more – almost 57,000 million dollars – and Peru ten times – almost 40,000 million -.
It is estimated that with the implementation of the most advanced projects, the country could export more than 18 billion dollars by 2030.
provinces
Ensuring production and extending the useful life of mining initiatives is of importance to the provincesmaintain in the Government, and affirm that sales abroad have been showing increases. In fact, the set of mining projects in July this year reflected a trade surplus of US$251 million, 16.1% above the same month of 2021, according to the monthly report prepared by the National Mining Secretariat. Likewise, the accumulated figure for the year increased 30.4% compared to the same period of the previous year and the surplus reached US$ 1,905 million.
Mining exports from the provinces of the NOA (Catamarca, Jujuy and Salta) they reached 128 million dollars in July 2022, 131.8% more than July 2021. They totaled 636 million dollars in the year, which implies a year-on-year growth of 65% compared to the same period in 2021. Mining represented 70.3% of the exports of these three provinces in July, while in the same month of 2021 the share reached 42.5%.
Foreign sales also grew San Juan: in July they reached 62 million dollars, with an increase of 23.3% compared to the same month of 2021. In the accumulated of the year, the province’s mining exports total 524 million dollars, marking a year-on-year growth of 31.2 % compared to the same period in 2021. Mining represented 71.8% of provincial exports in July, an increase in its share of almost 6 percentage points compared to July 2021.
As to Santa Cruz, exports last month reached 95 million dollars. Although this figure is 33.3% lower than the record for July 2021, in the accumulated of the year the province’s mining exports total 1,000 million dollars, which implies a year-on-year growth of 14.9% compared to the same period of 2021. In July, mining represented 73.8% of the province’s sales abroad, with an increase in its participation compared to the 71.7% that it reached in July 2021.
Source: Ambito
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