Argentina: Mining and hydrocarbon output grows by 8.2% in first semester

Industrial output of hydrocarbons and mining in Argentina recorded an 8.2% increase in the first half of the year, according to official sources.

According to a report by the National Institute of Statistics and Censuses (Indec), the mining industrial production index (IPI minero) showed a 3.3% rise in June compared to the same month in 2023 and a slight 0.3% increase compared to May.

The mining IPI includes, among other activities, crude oil production, which increased by 6.6% year-on-year in June and accumulated an 8.4% rise in the first half of the year.

Meanwhile, natural gas production registered a 6.8% year-on-year improvement in the sixth month of the year, advancing 5.2% in the first half.

As for support services for crude oil and natural gas extraction, the report noted no variation in June compared to the same month last year, but it achieved a cumulative increase of 14.2% in the first half of the year.

According to Indec, the production of metalliferous minerals (gold and silver) grew by 4.7% in June but accumulated a 1.6% decline in the first half.

In contrast, the production of non-metallic minerals and application rocks (lithium, frac sand, and granite) fell by 11.5% year-on-year in the sixth month of the year, accumulating a 3% increase in the first half of 2024.