Argentina is the first lithium exploration destination, Mining Secretary

Argentina Mining Secretary, Alberto Hensel, said that his country is the first world destination for lithium exploration. During a conference on the Lithium Triangle Initiative at the headquarters of the Inter-American Development Bank (IDB), he stressed that the sector has two mines in production and in the process of expansion (Olaroz and Fénix), two mines under construction (Caucharí and Centenario Ratones), another 10 in economic evaluation and six in advanced exploration stage.

Buenos Aires real estate market suffers its worst year in history

The real estate market of the city of Buenos Aires fell 41.6% and that of the province 30% in 2019 compared to the previous year, due to a virtual disappearance of bank credit and macroeconomic instability, reported the Colegio de Escribanos (Notary Council). In the federal district 33,411 deeds were registered, the lowest figure in the historical record since 1998. In the province, there were 83,627, the lowest number in the last 14 years.

Argentina recorded the highest trade surplus in 10 years

Argentina closed 2019 with a trade surplus of $ 15.99 billion, the highest since 2009, according to the National Institute of Statistics and Census (Indec). Paradoxically, this was due to the deep economic crisis. The recession caused imports to fall by 25% year-on-year, while mega-devaluation increased exports by 5.4%. Analysts expect a similar result in 2020.

Argentine economy shrank 1.9% in November 2019

Economic activity fell 1.9% year-on-year in November 2019, affected by inflation and the general decline in the industry, according to the National Institute of Statistics and Census (Indec). In its latest Monthly Economic Activity Estimator (EMAE), it says that the production of goods and services accumulated a contraction of 2.3% in the first nine months of 2019 compared to the previous year.

Vaca Muerta’s oil union calls off strike after layoffs agreement

The Union of Private Oil and Gas Workers in Neuquén called off a threat to go on strike after companies vowed to not fire 600 workers and suspend another 1,200 while waiting for production to pick up. The agreement was signed by Labour Minister Claudio Moroni at an extensive meeting in which the companies requested a crisis prevention procedure to reduce the burden of employer contributions for at least six months.