Argentine mining production reached a new historic record in May, according to Indec's Mining Industrial Production Index. The trend-cycle indicator rose 0.3% from April and surpassed all available records since the series began in 2017.
The general index grew 9.2% year-on-year and accumulated a 7.8% improvement in the first five months of 2026. The seasonally adjusted series also rose 0.4% month-on-month, while the trend-cycle series posted seven consecutive months of expansion.
Lithium was the most dynamic mineral. In May, 11,561.7 tonnes of lithium carbonate were extracted and processed, a 45.1% jump from the same month of 2025. In the January-May period, the increase reached 47.5%.
The block of minerals used for chemical products, which includes lithium and boron, grew 54.2% year-on-year in May and 52.9% in the year-to-date total. The maturation of projects in northern Argentina and the start-up of new processing plants explain much of the production leap.
Crude oil also pushed the overall result. Total production rose 19.2% year-on-year in May, driven by the unconventional segment, which grew 38.5% and already represents more than 69% of national crude output.
Natural gas advanced 5.5% year-on-year, with growth concentrated in the unconventional segment. At the same time, non-metallic minerals and application rocks grew 42.9%, with a strong jump in brine and by-products.
In metallic minerals, gold, silver and doré rose 1.5% year-on-year, while the group including copper, lead, zinc and molybdenum recorded a 41.9% increase. The opposite movement came from support services for oil and gas, which fell 21.4%.
The Argentine Chamber of Mining Companies projected mining exports of 9 billion dollars in 2026, driven by better gold and lithium prices. If current prices hold, the organisation estimates that the amount could be up to 1 billion dollars higher.
