Argentina’s mining exports reached a record level in the initial four months of 2026, propelled by increasing demand for lithium, gold, and silver from the United States, China, and Switzerland. The figures were disclosed by the Mining Secretariat in its monthly report on the sector, subsequently shared by Economy Minister Luis Caputo on Friday and further emphasised by President Javier Milei. “RECORD MINING EXPORTS,” the president stated on X. Mineral exports reached US$817 million in April 2026, contributing to a cumulative total of US$3.2 billion over the first four months of the year — reflecting an impressive 84.3% increase compared to the same timeframe in 2025. That figure also came in 161.8% above the average for the first four months of the year over the 2010-2025 period.
It represented the most robust performance recorded in the history of Argentine mining for that period of the year. The most significant rise was observed in metallic minerals, which represented 78.2% of total exports. They increased by 77.6% year-on-year in the first four months, reaching US$2.5 billion. Gold generated US$2 billion, accounting for 64% of total exports, while silver contributed US$403 million, representing 12% of the total. Lithium also distinguished itself, experiencing a remarkable growth of 137.8% year-on-year in the initial four months, reaching US$658 million — accounting for 20.2% of total mining exports. By destination, the most significant increases were observed in the primary consumer markets for strategic minerals.
In the first four months, exports to China experienced a remarkable growth of 187% year-on-year, amounting to US$767 million. Meanwhile, shipments to the United States increased by 101%, reaching US$531 million. They are positioned as the second and third largest destinations, representing 24% and 16% of the total, respectively. Switzerland emerged as the leading destination, accounting for US$1 billion in mineral exports — 34% of the total — although the growth rate was more modest at 43% year-on-year. This record export boom, however, hasn’t generated a significant “spillover” effect into the economies of the provinces where mining occurs — in contrast to the developments already seen in the southern region of the country with Vaca Muerta’s oil and gas. A study conducted by Universidad Austral indicated that economic activity in the Andean region, which houses a significant portion of the country’s mining operations, experienced a year-on-year growth of 3.3% in March, whereas the southern region recorded a growth of 6.9%.
In March, the Monthly Economic Activity Estimator, which represents a nationwide average, experienced an increase of 5.5%. The report also indicated that the mining region is currently 12.8% below its historical GDP peak. Even so, it stated that the economies of both regions “could pick up their pace of expansion if investment in those sectors, encouraged by the current regulatory framework, continues.” Mining, in fact, represents the majority of the investment projects that have been incorporated into the Large Investment Incentives Regime. Official government data indicates that out of the 16 projects sanctioned under the regime, nine are mining initiatives associated with lithium, copper, gold, and silver. The economy ministry estimates that these projects will generate 28,980 jobs throughout the provinces of Mendoza, San Juan, Catamarca, Salta, and Jujuy.