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Mining accumulates 28 consecutive months of job creation

Mining accumulates 28 consecutive months of job creation

According to data from the Ministry of Mining, the sector’s activity reached 28 consecutive months of job creation. The dependency of the Ministry of Economy also highlighted an important “growth at the business level” and a year-on-year increase of 28.5% in the generation of jobs for women.

The numbers were highlighted by the Mining Secretary, Fernanda Ávila, who specified on her Twitter account that “for more than two years” the activity “creates new jobs without interruption”, with numbers that “reflect the commitment to develop the full potential of the activity in our country”. Official data indicates that as of November 2022 there were 37,764 workers in the sector, with more than 3,500 new positions since the same month of 2021, that is, a growth of around 10%.

“The sector also showed growth at the business level: 1,052 operating companies were counted,” he added, while noting that “the most prominent item was lithium production, with the incorporation of 904 workers in the last 12 months.”

Likewise, the Secretariat highlighted that “between January and November 2022, mining generated 744 new jobs for Argentine women” with an increase “of 28.5% in year-on-year terms.”

Foreign exchange

On the other hand, in the first two months of 2023 the commercial balance of the companies that make up the project portfolio showed a positive sign of US$566 million, which is equivalent to 25.3% more than in the same period of 2022.

In February, these companies showed a trade surplus of US$237 million, the result of exports of US$283 million and imports of US$46 million.

“In this way, the exports made by this group of companies were more than six times greater than their imports,” highlighted the distribution in the report of the “Commercial balance of the main mining projects” corresponding to March. The data accumulated in January and February show that, for every US$100 exported, the mining projects considered imported approximately US$13, although with a noticeable difference between lithium and the rest of the minerals.

In this sense, Mining stressed that “for metal projects (gold and silver) the ratio (between exports and imports) reached a value of 6.3% in February, at the same time that in the accumulated of the first two months this ratio reached 5.3%”.

“While lithium projects, which include both projects in production and expansion as well as those under construction and in other previous stages, showed a ratio of 53.5% in February and accumulated in the first two months, of 42 ,8%”.

Mining, together with energy, is a sector that the Government is aiming at to significantly expand the income of foreign currency to the country and, at the same time, to reduce dependence on agricultural activity, which today contributes the largest portion of the dollars of Argentina. Events such as the severe drought that the country is going through reflects the need to expand the export matrix.

Source: Ambito

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