Mining production grew 10.3% in July in relation to the same month in 2022, while the accumulated January-July reflected an improvement of 10.9%, the National Institute of Statistics and Censuses (INDEC) reported yesterday.
Meanwhile, the mining industrial production index (IPIM) corresponding to the seasonally adjusted series showed a positive variation of 0.6% in the seventh month of the year compared to the previous month, the agency added.
The greatest increase was that of the “Salt Extraction” index, which registered an 84.8% year-on-year increase and an increase of 31.1% in the accumulated January-July 2023, compared to the same accumulated the previous year.
Another index that stood out in the seventh month of the year was the “Extraction of minerals for the manufacture of chemical products” (linked to lithium), which rose 49.7% in relation to the same month of 2022 and 15.9% in the accumulated January-July 2023, in comparison with the same period of the previous year.
According to an analysis by the Rosario Stock Exchange (BCR), the lithium complex could be the fifth Argentine exporter before the end of the decade, since the volume of investments could multiply exports of this mineral by ten in the coming years. .
“The lithium complex went from being 6% of mining exports in 2021 to 18% in 2022, with projections to continue growing in 2023,” highlighted the report prepared by BCR economists Emilce Terré and Guido D’Angelo, given to meet yesterday.
In July, the “Extraction of non-metallic minerals and application rocks” index showed an increase of 18.1% year-on-year and 9.5% in the accumulated January-July 2023, compared to the accumulated of the same period of the previous year. Another index that operated on the rise was that of “Extraction of sand, boulder and crushed stone”, which increased 12.3% compared to the same month of 2022 and 7.9% in the accumulated January-July 2023.
The performance of the “Extraction of crude oil and natural gas and support services for the extraction of crude oil and natural gas” index was also positive, which rose 11.2% compared to the same month in 2022 and 12.9% in the same month. accumulated January-July 2023. Within this index, crude oil registered an increase of 9.7% year-on-year while support services for the extraction of crude oil and natural gas shot up 31.8% year-on-year.
In the case of the “Clay and kaolin extraction” index, the increase was 2.1% compared to the same month in 2022, but 13.3% in the accumulated January-July 2023.
Source: Ambito
