Argentina’s $40 Billion Copper Boom Hinges on Glacier Law Revamp

The way Argentina’s president and some of the world’s biggest miners see it, all that stands between them and billions in copper riches are hunks of icy rock and overzealous legislation.

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That’s why, over the last year, executives from Glencore Plc, Lundin Mining Corp. and partner BHP Group have filed into Javier Milei’s presidential palace in Buenos Aires. These companies and others are keen to invest about $40 billion in Argentina’s untapped copper belt when miners worldwide struggle to keep pace with accelerating demand for the wiring metal.

A protest against the amendment of the glacier law outside the National Congress in Buenos Aires, on Feb. 26.

Photographer: Pablo E. Piovano/Bloomberg

Milei has plenty of reason to ...