Mongabay · Climate & nature

US and Argentina Launch Initiative to Boost Mineral and Energy Exports

A new initiative between the U.S. and Argentina aims to increase investment and strengthen supply chains for critical minerals essential for clean energy technologies, while also supporting the development of Argentina's oil and gas reserves.

The Andes-Atlantic Corridor will facilitate U.S. investment in Argentina's mining sector and streamline critical mineral exports, while supporting development of the Vaca Muerta oil and gas region.

Argentina has significant copper and lithium reserves, vital for clean energy components. It is also part of the "Lithium Triangle," holding a large portion of the world's lithium.

Historically, Argentina faced mineral export challenges due to mine closures and lack of foreign investment, impacting copper exports between 2012 and 2019.

The initiative will address transport bottlenecks between mining areas and ports, including the Hidrovía Waterway, to optimize trade routes.

In energy, cooperation will strengthen Argentina's oil and gas sector using U.S. investment and technology.

Argentina and the U.S. Export-Import Bank agreed to mobilize up to $7 billion for mining, energy, and other sectors through 2027.

AI-samenvatting op basis van de bron.