Argentine Provinces of Santa Cruz, San Juan, and Jujuy led mining exports in Q1 2024

News
The Argentine provinces of Santa Cruz, San Juan, and Jujuy topped mining exports during the first quarter of 2024, despite a decline in overall sector sales compared to the same period last year. In March, mining exports reached US$320 million, down 5.9% from March 2023. In the first three months of 2024, the total exports amounted to US$861 million, marking a 15.8% decrease compared to the first quarter of 2023.

By Panorama Minero

In March, 98.4% of mining exports came from five provinces: Santa Cruz, Jujuy, San Juan, Salta, and Catamarca, with this group accounting for 98.3% of the country's mining exports in the first quarter of the year. Furthermore, in March, the mining sector represented 73.2% of the total exports from these provinces, while in the first three months, it explained 71.9% of their total exports.

Santa Cruz: Growth Amidst National Decline

Santa Cruz was the top-performing province in March, with mining exports totaling US$184 million, representing a 44.8% increase compared to the same period last year. However, the mining sector reduced its share of the province's total exports to 78.1%, down from 78.5% in an interannual comparison. In the first quarter's cumulative total, Santa Cruz recorded a 3% year-on-year growth, totaling US$420 million.

Gold was the primary mineral exported from Santa Cruz, accounting for 83.2% of March's mining exports, while silver made up 16.7%.

San Juan's Performance

San Juan, on the other hand, saw a significant drop in mining exports. In March, exports reached US$43 million, down 43.7% compared to the same month in 2023. In the first quarter, the province exported US$169 million in minerals, a 24.5% year-on-year decline. Gold accounted for 91.1% of San Juan's mining exports, followed by lime products at 8.1%.

Argentine Northwest: Lithium, Gold, and Silver

The provinces of the Argentine Northwest (Catamarca, Jujuy, and Salta) also experienced a decline in mining exports. In March, exports totaled US$88 million, a 33% drop compared to the previous year, primarily due to lower lithium prices. In the first quarter's cumulative total, mining exports from the Northwest amounted to US$257 million, a year-on-year decrease of 31.4%.

In March, mining represented 69.2% of the Northwest's total exports. Lithium accounted for 48.8% of the region's mining exports, while gold and silver jointly made up 42.8%.

With these figures, the Argentine mining sector faces the rest of the year with the challenge of regaining momentum and counteracting downward trends, especially in provinces like San Juan, where the decline has been more pronounced. Santa Cruz emerges as a success story, albeit with warning signs about the sustainability of its growth.

Magazine

Edición 529 - Abril 2024
2024 Argentine Mining Compendium
Edición 528 - Marzo 2024
Edición 527 - Febrero 2024
Edición 526 - Diciembre 2023
Edición 525 - Noviembre 2023
Edición 524 - Octubre 2023
Edición 523 - Septiembre 2023
Edición 522 - Agosto 2023
Edicion 521 - Julio 2023
Edición 520 - Junio 2023
Edicion 519 - Mayo 2023

Events

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    Gold, Silver & Copper

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