Argentina's Senate approved President Javier Milei's bill on Thursday night, allowing governors to override federal protections on glaciers and periglacial zones to enable copper mining investments. The measure, now heading to the Chamber of Deputies, aims to unlock copper deposits worth billions of dollars. Companies like BHP and Glencore plan to invest up to US$40,000 million in the region.
Argentina's Senate approved a bill on Thursday night to reform the 2010 Glacier Law, which protects ice formations and periglacial zones that supply water to farms and cities. These safeguards have blocked access to vast copper deposits in the Andean belt, where international mining companies see potential for up to US$40,000 million in investments.
President Javier Milei is pushing the reform to attract foreign investment and create jobs ahead of the 2027 elections, aiming to rank Argentina among the world's top 10 copper producers and generate over US$10,000 million in annual revenue. In a November speech, Milei stated the measure would allow Argentines to “de una vez por todas” start exploiting their natural wealth.
Companies like BHP Group and Lundin Mining Corp. plan to invest US$18,000 million in the Vicuña deposit, which would become one of the world's largest copper mines and Argentina's biggest single investment. Glencore seeks US$9,500 million for El Pachón. Both aim to join the RIGI program for tax incentives.
The mining industry, represented by the Caem group, argues modern mining can operate without affecting water reserves and needs clear definitions for periglacial zones without significant hydrological function. Yanina Ripoll, Vicuña's head of environmental affairs, noted a glacier near Filo del Sol will shrink to less than one hectare in six years, questioning its protection under current law.
Environmental opposition is fierce. Glaciologist Juan Pablo Milana called the reform a ploy to dismantle the national law. Activists like Guillermo Toranzo stress the constitutional right to a healthy environment, recalling past chemical spills at San Juan gold mines. Groups like Rebelión o Extinción are organizing protests, and billboards promote the “Ley de No Tocar los Glaciares”.
Juan Arrieta, Vicuña's chief geologist, countered: “Why leave the resource there? We are the original environmentalists,” highlighting copper's role in the energy transition.
