US to Invest up to $7 Billion in Argentina’s Minerals, Energy Sectors

The Export-Import (EXIM) Bank of the United States on Wednesday signed a U.S.–Argentina Build the Future Framework, a pact meant to mobilize financing of up to $7 billion through 2027 to support Argentina’s development in areas such as critical minerals and energy.

The priority sectors listed by the bank include critical minerals development and processing, energy security and grid modernization, digital connectivity, and secure systems, as well as commercial space and advanced technologies.

“EXIM is moving boldly into the industries of the future. To do this, we must secure our supply chains, support American jobs, and ensure American workers, products, and expertise reach all parts of the Western Hemisphere,” EXIM Chairman John Jovanovic said in a statement. “We’re proud to enter into such an important partnership with Argentina and excited to see our two countries grow together.”

The framework, officials said, will let both sides deepen economic ties, support U.S. job growth and add to Argentina’s infrastructure work. Cooperation may cover development and processing of Argentina’s strategic mineral resources. That would involve U.S. equipment, technologies, mining expertise, and related infrastructure.

The work is consistent with EXIM’s Supply Chain Resiliency Initiative. That program is designed to help lock down supply chains of critical minerals and rare earth elements for U.S. businesses.

The signing comes months after a separate critical minerals supply agreement between the two countries was signed on Feb. 4. The ministry said in a statement on X that the arrangement would drive significant economic growth. Argentina’s mineral exports reached $6 billion last year.

The February pact was among several signed at a critical minerals summit in Washington hosted by Secretary of State Marco Rubio.

“The goal here is very simple. We all understand that having reliable global supply chains in critical minerals and processed and finished materials are critical to everything we do,” Rubio said.

Vice President JD Vance at the summit also applauded the deal.

“At the heart of what we’re trying to do all across the administration is recognize that this is something where our alliances and our friendships can really help one another,” Vance said. “We’re all on the same team. We’re all rowing in the same direction.”

The Argentine Foreign Ministry said the February agreement “aims to consolidate stronger and more diversified value chains, create a favorable environment for long-term productive investments, and respond to growing global demand and the application of cutting-edge technologies.”

Officials noted there would be cooperation on geological mapping, recycling, and management of critical materials.

Buenos Aires reported mining exports rose 30 percent last year. The country produced a record 110,000 tons of lithium carbonate.

“Argentina is on track to increase its total exports to around $100 billion over the next seven years, with a growing share from mining, which could exceed $20 billion during that period and reach more than $30 billion by the end of the next decade,” the foreign ministry statement said.

“In turn, mining and energy, due to their close link, could generate a combined export surplus of close to $50 billion annually in the coming years, with the potential to reach $75 billion by the end of the decade.”

That same week in February, Sens. Kevin Cramer (R-N.D.) and Mark Warner (D-Va.) were preparing legislation to expand EXIM’s lending authority by $70 billion. They wanted a 10-year reauthorization and a higher statutory exposure cap, from $135 billion to $205 billion, to finance mines, processing plants, and related projects.

EXIM’s Supply Chain Resiliency Initiative itself dates back to early 2025. The bank said on Jan. 8 of that year that the program responded to a December 2024 Chinese ban on exports of certain critical minerals with military uses, including gallium, germanium, and antimony.

Then-EXIM President and Chair Reta Jo Lewis said private markets had struggled with Chinese market manipulation.

“Through this creative new financing tool, EXIM will provide U.S. businesses access to critical resources, reduce reliance on [China]-controlled supply chains, and foster a stronger, more resilient domestic manufacturing base,” Lewis said.

U.S. backing for Argentina has come in other forms. In October 2025, the United States doubled overall support to $40 billion through peso purchases, a currency swap, and a private debt facility, Treasury Secretary Scott Bessent said at the time.

Mining investment has persisted. Newmont Corp. committed $800 million in late February 2026 to expand the Cerro Negro gold mine. Argentina’s economy ministry said mining exports topped $6 billion in 2025, up 29 percent, with gold leading at $4.08 billion and lithium at $905 million.

“We continue to promote private investment and strategic projects in energy and mining,” Economy Minister Luis Caputo said at the time.