Recently, the Argentine Embassy in China held a presentation with the theme "Argentina: Mining Development is a National Policy" to promote investment opportunities in the Argentine mining sector to all walks of life in China.

At the presentation, relevant persons from the Argentine Embassy in China introduced that Argentina’s unique geographical conditions give Argentina the potential to quickly become a major producer of resource products such as gold, silver, copper, lithium, lead, uranium and rare earths in the future. In March of this year, for the purpose of stimulating economic growth, the Argentine federal government began to consider increasing the intensity of attracting mining investment. The initial plan is to double mining investment to 25 billion U.S. dollars in the next 8 years.

Statistics show that from 2007 to 2015, Argentina’s mining investment was only 10 billion U.S. dollars, far lower than Chile’s 80 billion U.S. dollars and Peru’s 52 billion U.S. dollars.

In this context, Argentina hopes to attract Chinese capital to participate in Argentine mining investment projects.

Mario Osvaldo Capello, Deputy State Secretary of the National Mining Development of Argentina, stated that Argentina is vigorously developing its mining industry, hoping to turn mining into an area of equal importance to the agricultural industry. Since Argentina restored its international reputation, many companies have shown interest in investing in Argentina. China is also one of them. It is great to see that since 2016, mining has become a new key pillar of China-Arab relations.

The Argentine Ambassador to China Ge Tiego also said that China has now discovered that Argentina is a major mining country, and many important Chinese companies have begun to invest in Argentina or are conducting research on large investment projects. There is a big gap in China's mineral supply, while Argentina's mineral reserves are very rich.

Capello further pointed out that Argentina's current tax policy is stable, supports the free remittance of profits abroad, and liberalizes the introduction of foreign production capital and equipment. At this stage, Argentina is focusing on several major mining projects to the outside world, and it is expected to bring about 30 billion US dollars of investment to Argentina in the medium term, and at the same time, it will create more than 20,000 direct jobs and more than 90,000 indirect jobs.