In late February 2026, Argentina’s senate approved a reform to the country’s Glaciers Law, to potentially weaken the restrictions on mining around the Andean glaciers.
The Senate returned a vote 40-31 in favour of reforming the law, which now moves to the chamber of deputies, where it requires another approval vote.
If approved, the various provinces within Argentina will be given decision-making rights to decide which glaciers are important for water supply and which are not, with the “non-functional” glaciers then allowed to become mining sites.
The law itself is the first of its kind prohibiting mining, oil drilling, and similar activities on the nearly 17,000 glaciers and periglacial areas that surround Argentina and are a key source of water supply for the country.
Glaciers account for less than 1% of Argentina’s territory, but they overlap significantly with large mineral deposits, including copper, which is currently in big demand.
The revised bill proposal comes just days after President Javier Milei signed a critical minerals supply deal with the US, meant to drive economic growth and new investment into projects.
According to the International Energy Agency, demand for copper is currently driving a supply shortage that could reach 30% by 2035.
Argentina does not currently produce copper, but has several major projects on hold that, if Milei’s revised bill is approved by congress, could potentially move forward.
Environmentalists have spoken up about the bill’s revisions, noting that it puts business interests ahead of environmental and community safeguards.
A group of Greenpeace activists were arrested protesting the revisions of the bill in February, the argument being that the reform would weaken protections for crucial water sources, especially at a time when climate change is dramatically changing the landscape of these glaciers.
Other industry leaders have called for technical criteria to be established to protect water supply and ensure that crucial glaciers are left intact.
According to FARN, an environmental and natural resources based Argentine NGO, opening mining to areas that are currently projected could clear the way for four new large copper projects that have been on hold since the law went into place.
Environmental policy coordinator Leandro Gómez at FARN has said that “today, some projects violate the glaciers law and that, with this regulatory change, could potentially begin operating”.
Those projects include El Pachón and Agua Rica, both owned by Glencore (LON:GLEN), who has noted an intention to spend US$4 billion to develop Agua Rica and $9.5 billion to develop El Pachón.
With regards to Agua Rica, anti-mining activities have been holding marches against the mine’s development since 2010, noting the mine development would endanger the region’s water supply and cause “irreparable consequences”.
Glencore is working to complete the exploitation phase environmental impact report for the project, noting that they’re engaging with their host community to understand their concerns, especially with regards to environment, economy, and social development.
The proposed reforms could potentially unlock billions in copper investment, but come with the cost of heightened environmental concerns.
Write to Amy Rotman at Mining.com.au
Images: Reuters/Ramiro Gomez
