Argentina’s Senate passes glacier law reform to unlock mining projects

Kitco Media
By Reuters
Published:
Updated:
Reuters
Argentina’s Senate passes glacier law reform to unlock mining projects teaser image

Argentina’s Senate approved on Thursday a reform to the law protecting Andean glaciers, a measure promoted by the libertarian President Javier Milei’s government with the aim to unlock investments by mining companies.

The bill, which has been protested by environmental groups, was passed by the Senate with a vote of 40 to 31 as environmental groups protested opposite the Argentina Congress.

The reform will now move to the lower house for a vote.

Milei’s bill is part of a broader pledge by his administration to “end arbitrary interpretations” of the glacier law, which the government says has stalled investment and economic development.

Argentina’s economic rock star Milei attracts mining
If enacted, the controversial bill would enable provinces to set their own standards for protecting glaciers and periglacial environments – high-altitude ice formations, often covered by rock debris, that serve as key freshwater reserves.

Mining companies have argued that the current law, which prohibits mining and oil exploration activities from all glaciers identified through a national scientific inventory, requires clearer definitions to enable long-term investment.

“It’s a game changer. It will allow for a clearer understanding of what a periglacial environment is, and across each province,” said Tomas Lanardonne, an attorney with the firm MHR, which works with energy, mining, and natural resources businesses.

Environmental groups have pushed back against the reform, arguing that changes to the original glacier law of 2010 will weaken protections of water resources in favor of economic interests.

“To a greater or lesser extent, all Argentines will be affected by the water shortage this will cause in the short term,” said Agostina Rossi Serra of Greenpeace Argentina.

(By Nicola Misculin; Editing by Michael Perry)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.