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US Export-Import Bank weighs up to $7 billion for Argentine minerals
The proposed financing would let Argentine operators buy equipment from US manufacturers and comes as the US ramps up access to lithium, copper, and rare earths for energy and defense uses.
The US Export-Import Bank (EXIM) is considering financing of up to $7 billion for critical minerals and energy projects in Argentina as Washington seeks to strengthen access to resources in the region, Reuters reported. The proposal is expected to be announced Wednesday in New York during the United Nations General Assembly.
According to the document seen by Reuters, companies operating in Argentina could use the financing over the next two years, including to purchase equipment from US manufacturers. The plan is part of broader US efforts to secure minerals such as lithium, copper, and rare earths tied to energy security, defense, and advanced technology.
The US government has already directed more than $1 billion into critical minerals investments and financing toward Latin America since January 2025, Reuters said. The US and Argentina announced a critical minerals agreement in February, though Argentina’s Congress has not yet ratified it.
Argentina is working to attract large projects through its Incentive Regime for Large Investments, or RIGI, launched in July 2024, which offers tax, customs, and foreign exchange stability for qualifying investments starting at $200 million. Reuters noted that Rio Tinto’s $2.5 billion Rincón lithium development was the first project approved under the regime, while BHP is advancing copper and Chevron operates in Argentina’s shale oil and gas sector.
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