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Argentina’s glacier law overhaul clears path for mining giants

Financial Times Companies •
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Argentina’s lower house approved a sweeping overhaul of its glacier protection law, a win for President Milei who has long promoted mining as an engine of recovery. The bill shifts authority to provincial governments, letting them decide which glacial and periglacial areas merit protection and whether they hold hydrological value.

The reform replaces a national framework that set minimum environmental standards, a move that critics say could weaken safeguards over the Andes’ water reserves. Environmental groups argue the change conflicts with constitutional requirements for nationwide minimum protections and international agreements that prohibit rolling back existing safeguards. Glaciers cover roughly 1 per cent of the Andes but play a key role in regulating water supply.

Mining giants such as Barrick Gold, Glencore, Rio Tinto and Lundin Mining have already eyed projects in San Juan province, where the new law could clear the legal limbo that has stymied development. Industry groups claim the bill brings needed clarity, arguing many ice formations covered by the old law had no meaningful hydrological function.

Public hearings drew more than 100,000 registrants, underscoring the debate’s intensity. While supporters say the changes do not alter glacier protection or hydrological importance, opponents warn that provincial decisions could be court‑challenged and reversed when administrations change. The law’s passage signals a shift toward deregulation that could reshape Argentina’s mining sector.