In commodity circles, Argentina is known for its agricultural produce and for the Vaca Muerta shale play. But the country has recently started drawing attention to other kinds of natural resources copper and lithium. According to some, it has a bright future as one of the world’s biggest transition minerals suppliers. Two weeks ago, a local investment company, Integra Capital, struck a deal with Glencore to acquire its stake in a company called Volcan Compania Minera.
Manzano’s buying spree now suggests there may well be something to it—as long as the forecasts materialize. There are seven copper projects in progress in Argentina at the moment. According to BNAmericas, these could generate some $5 billion annually for the country’s budget once they start producing. The total output of the seven is seen at 1.2 million tons annually, per that report, which is considerably more than the estimate reported by Reuters.