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Market Chatter: US to Fund $7 Billion in Argentine Minerals, Energy Projects

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The US will fund up to $7 billion in investments in Argentina critical minerals and energy via the US Export-Import Bank, Reuters reported on Tuesday, based on a document it has obtained, as the leaders of both countries seek to foster deeper economic ties.

The plan, which would offer the US greater access to coveted rare minerals in its own neighborhood, will be announced at the UN General Assembly on Wednesday, the news agency said, citing a person with knowledge of the matter.

Argentina has significant lithium, shale oil and other resources and the US money will enable companies investing their to obtain loans to buy equipment from US manufacturers for their operations, within the next two years, the article said.

The government of Argentine president, Javier Milei, has established incentives for large foreign investments, known as RIGI, to lure foreign capital more easily into its resource extraction sectors.

Neither Argentina's energy ministry nor the US Export-Import Bank immediately replied to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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