Wedonay.com Report on Mar 19th, During Argentina Week in New York, the Government of Catamarca Province signed a cooperation agreement for rare earth exploration with U.S.-based American Minerals LLC, aiming to assess the province's potential in critical minerals and support the strategic priorities of the state-owned enterprise CAMYEN. This initiative is similar to a previous agreement implemented in Salta Province, focusing on rare earth elements and scarce minerals related to advanced technology, energy transition, and defense applications.
The framework cooperation agreement was signed by Governor Raúl Jalil and American Minerals LLC CEO Sergio Rotondo, with both parties emphasizing the importance of technical cooperation. According to the agreement, American Minerals LLC will provide preliminary studies, critical mineral assessments, and technical expertise, and may fund geological surveys, while Catamarca Province will contribute geological information and pre-feasibility studies, coordinating the work with the Argentine Geological and Mining Service.
"Catamarca Province has significant potential in strategic minerals, which are becoming increasingly important for technological development and global security. We are working to ensure these resources are responsibly researched and developed, creating jobs and new opportunities. This agreement allows us to advance exploration and prospecting studies, with the company funding geological assessments," Jalil stated after the signing. The agreement also includes provisions for social responsibility, respect for indigenous communities, and the promotion of local employment.
As a next step, both parties will develop a work agenda, identify priority areas, approve preliminary study plans, and assess the feasibility of specific exploration or development agreements, in line with CAMYEN's 2026 objectives. The agreement framework may utilize large-scale investment incentive systems and the Memorandum of Understanding signed between Argentina and the United States in August 2024 to strengthen critical mineral cooperation.
Previously, Salta Province signed a similar public-private agreement with American Minerals LLC in February, involving the state-owned company Salta Energía y Recursos Minerales, aimed at assessing the province's critical mineral and rare earth potential. The Salta government clarified that the agreement does not grant automatic mining rights, and any future development would require specific agreements and compliance with legal procedures, including environmental approvals.
Rare earth elements, also known as critical minerals, are materials with magnetic and conductive properties used to enhance the electrical performance of technologies, typically found in low concentrations and dispersed deposits. They are essential for developing electric motors, wind turbines, batteries, electronic devices, and metal alloys, and are also used in the chemical industry for petroleum refining.
