In annual terms, production rose again, but much less than in previous months. They highlighted significant falls in the production of gold, silver and minerals for construction.
Mining production suffered its second consecutive monthly drop in August and touched its lowest level since November 2023. In year-on-year terms, the declines in metalliferous and non-metalliferous minerals accelerated, while the hydrocarbons segment showed the smallest increase since the sector began a strong expansionary path, back in 2021.
According to data published this Wednesday by INDEC, The Mining Industrial Production Index contracted 1.6% compared to July. In this way, the seasonally adjusted series reached its lowest levels since Javier Milei was president.
Likewise, the reference was a 2.1% higher than August of last yearalthough the variation was considerably reduced in relation to previous months.
Oil extended improvements, but there were setbacks in the rest of the products
The division of oil and gas It showed an interannual advance of 4.6%, lower than the 6.5% it had shown in June. This decline was explained by the slowdown in gas and a sharp annual drop in the activity of associated services (which includes well activities, drilling, maintenance and testing, among other tasks) while in oil the best record was recorded since October 2022.
Meanwhile, the production of metalliferous minerals collapsed by 17.1%; the extraction of gold and silverthe most important component of this division, suffered a drop of 9.8%.
At the same time, non-metallic minerals had a decline of 7.3%. Inside, there were drops of up to 60.5% in the production of sandsspecifically for construction and fracking, and 30.9% in the production of and so.
For his part, the lithium carbonate maintained its strong performance, although the annual increase was cut from 56.7% to 32.2%. In absolute terms, INDEC reported a production of 5,722 tonsthe second highest since the institute has kept track.
Source: Ambito
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