IBOV 172,758.89 ▼ 0.35% IPSA 10,877.68 ▼ 0.18% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL5.08▼ 0.29% USD/MXN17.39▼ 0.21% USD/CLP933.02▼ 0.16% USD/COP3,236▼ 1.01% USD/PEN3.40▲ 0.14% USD/ARS1,477▼ 0.30% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▲ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.84% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.73% USD/TTD6.73▲ 1.11% EUR/BRL5.79▼ 1.16% BRENT 91.63 ▲ 2.70% WTI 84.71 ▲ 1.78% IRON ORE 161.91 — — COPPER 6.54 ▲ 3.79% GOLD 4,080 ▲ 1.74% SILVER 59.23 ▲ 4.27% SOY 1,219 ▼ 0.57% CORN 472.75 ▲ 5.17% WHEAT 670.00 ▼ 0.59% COFFEE 326.65 ▼ 2.32% SUGAR 14.91 ▲ 0.61% ORANGE JUICE 148.55 ▲ 0.78% COTTON 80.03 ▲ 3.44% COCOA 5,587 ▲ 1.21% BEEF 223.80 ▼ 1.20% CATTLE 345.85 ▼ 1.75% LITHIUM 69.18 ▲ 3.38% PETR4 41.58 ▲ 1.05% VALE3 72.19 ▲ 0.36% ITUB4 42.35 ▲ 0.12% BBDC4 18.44 ▲ 0.16% ABEV3 15.82 ▲ 0.19% BBAS3 20.50 ▲ 1.64% B3SA3 15.03 ▼ 1.51% WEGE3 42.74 ▼ 0.90% PRIO3 58.66 ▲ 1.68% SUZB3 41.81 ▼ 0.19% RENT3 36.83 ▼ 1.76% AZZA3 17.76 ▼ 2.26% CSAN3 3.75 ▼ 1.83% RAIZ4 0.27 — 0.00% PCAR3 2.74 ▲ 5.38% GMAT3 3.83 ▼ 0.52% PSSA3 53.47 ▼ 1.35% CVCB3 1.14 ▲ 5.56% POSI3 3.77 ▲ 1.89% SLCE3 13.68 ▲ 0.81% NATU3 8.70 ▲ 0.81% BRKM5 5.89 ▼ 0.84% RANI3 7.87 ▼ 1.50% CSNA3 5.10 ▲ 0.59% CMIN3 5.44 ▲ 0.93% USIM5 8.31 ▲ 1.84% GGBR4 23.68 ▲ 0.25% ENEV3 25.26 ▼ 1.52% CPFE3 46.33 ▲ 0.02% CMIG4 10.98 ▼ 0.36% EQTL3 38.48 ▼ 2.06% LREN3 13.22 ▼ 0.68% VIVT3 35.59 ▼ 0.22% RAIL3 13.32 ▼ 1.84% KLABIN 17.41 ▼ 0.40% RAIA DROGASIL 18.43 ▼ 1.39% RDOR3 33.74 ▼ 4.82% HAPV3 11.27 ▼ 2.42% FLRY3 16.37 ▼ 1.15% SMTO3 15.41 — 0.00% UGPA3 31.48 ▼ 0.69% VBBR3 33.52 ▼ 1.73% BBSE3 41.07 ▲ 0.05% BPAC11 55.51 ▼ 0.59% CURY3 29.67 ▼ 1.72% AERI3 2.04 ▼ 1.45% VIVARA 21.44 ▼ 2.37% COMPASS 24.37 ▼ 0.94% VAMOS 3.13 ▲ 1.29% SANB11 27.32 ▲ 1.15% ASAI3 8.18 ▲ 0.49% SBSP3 28.47 ▼ 1.76% WALMEX 49.30 ▼ 0.16% GMEXICO 204.93 ▲ 2.04% FEMSA 226.93 ▼ 0.02% CEMEX 21.97 ▲ 0.41% GFNORTE 182.84 ▲ 1.58% BIMBO 59.25 ▼ 0.42% TELEVISA 9.81 ▲ 1.03% AMX 22.71 ▼ 0.13% GAP 378.91 ▲ 0.19% ASUR 272.45 ▼ 0.70% OMA 224.99 ▼ 0.64% KOF 181.36 ▲ 0.30% GRUMA 287.84 ▲ 0.08% KIMBER 38.06 ▼ 0.86% SQM-B 63,900 ▲ 1.23% COPEC 6,360 ▲ 2.58% BSANTANDER 78.70 ▲ 3.43% FALABELLA 5,885 ▲ 0.16% ENELAM 84.30 ▲ 0.23% CENCOSUD 2,015 ▲ 1.02% CMPC 1,085 ▲ 1.78% BANCO CHILE 189.86 ▲ 1.81% LATAM AIR 24.48 ▲ 0.29% YPF 80,550 ▲ 1.70% GGAL 7,955 ▲ 1.40% PAMPA 5,490 ▲ 4.17% TXAR 667.50 ▼ 0.45% ALUAR 967.00 ▲ 0.78% TGS 9,590 ▲ 0.95% CEPU 2,333 ▲ 1.92% MIRGOR 16,875 ▼ 1.46% COME 43.20 ▲ 0.58% LOMA NEGRA 3,650 ▲ 2.17% BYMA 293.50 ▼ 0.09% TELECOM ARG 4,195 ▲ 1.21% ECOPETROL 16.58 ▲ 3.43% BANCOLOMBIA 82.01 ▲ 1.47% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 393.19 ▲ 1.64% SOUTHERN COPPER 183.62 ▲ 4.88% BUENAVENTURA 31.09 ▲ 3.43% MERCADOLIBRE 1,811 ▼ 1.17% NUBANK 14.18 ▲ 1.32% XP 16.59 ▼ 1.28% PAGSEGURO 9.41 ▲ 1.24% STONE 11.07 ▼ 0.49% GLOBANT 32.33 ▲ 0.12% TECNOGLASS 45.76 ▼ 0.76% GAP AIRPORT 217.85 ▲ 0.34% ASUR 272.45 ▼ 0.70% OMA AIRPORT 103.62 ▼ 0.38% AMX ADR 26.07 ▼ 0.11% FEMSA ADR 130.50 ▲ 0.38% CEMEX ADR 12.64 ▲ 1.20% PETROBRAS ADR 18.43 ▲ 1.29% VALE ADR 14.19 ▲ 0.60% ITAU ADR 8.34 ▲ 0.18% SANTANDER BR 5.41 ▲ 0.65% AMBEV ADR 3.09 ▲ 0.44% CSN 1.02 ▲ 0.50% GERDAU 4.69 ▲ 0.21% LATAM ADR 52.51 ▲ 1.48% BTC 66,652 ▲ 2.18% ETH 1,930 ▲ 1.36% SOL 78.03 ▲ 0.31% XRP 1.15 ▲ 3.74% BNB 575.13 ▲ 0.77% ADA 0.17 ▲ 3.01% DOGE 0.07 ▲ 1.76% AVAX 6.61 ▲ 0.51% LINK 8.68 ▲ 1.14% DOT 0.86 ▲ 3.49% LTC 47.77 ▲ 0.91% BCH 225.33 ▲ 2.47% TRX 0.33 ▲ 0.56% XLM 0.19 ▲ 2.28% HBAR 0.07 ▲ 2.99% NEAR 1.95 ▼ 1.19% ATOM 1.49 — 0.00% AAVE 95.68 ▲ 6.58% SELIC 14.25% EMBRAER 82.94 ▼ 0.42% EMBRAER ADR 65.27 ▼ 1.01% JBS 11.82 ▼ 1.76% JBS BDR 59.91 ▼ 1.45% MBRF3 15.02 ▲ 3.44% MBRFY 2.96 ▲ 1.72% INTER 5.55 ▼ 1.33% IBOV 172,758.89 ▼ 0.35% IPSA 10,877.68 ▼ 0.18% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL 5.07 ▼ 0.31% USD/MXN 17.39 ▼ 0.23% USD/CLP 932.08 ▼ 0.26% USD/COP 3,238 ▼ 0.93% USD/PEN 3.40 ▲ 0.14% USD/ARS 1,477 ▼ 0.30% USD/UYU 40.11 ▲ 1.23% USD/PYG 6,045 ▲ 1.76% USD/BOB 10.80 ▲ 2.69% USD/DOP 58.02 ▲ 0.31% USD/CRC 446.12 ▲ 1.15% USD/GTQ 7.62 ▲ 2.33% USD/HNL 26.74 ▲ 1.61% USD/NIO 36.62 ▲ 0.84% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.73% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.79 ▼ 1.14% BRENT 91.63 ▲ 2.70% WTI 84.71 ▲ 1.78% IRON ORE 161.91 — — COPPER 6.54 ▲ 3.79% GOLD 4,080 ▲ 1.74% SILVER 59.23 ▲ 4.27% SOY 1,219 ▼ 0.57% CORN 472.75 ▲ 5.17% WHEAT 670.00 ▼ 0.59% COFFEE 326.65 ▼ 2.32% SUGAR 14.91 ▲ 0.61% ORANGE JUICE 148.55 ▲ 0.78% COTTON 80.03 ▲ 3.44% COCOA 5,587 ▲ 1.21% BEEF 223.80 ▼ 1.20% CATTLE 345.85 ▼ 1.75% LITHIUM 69.18 ▲ 3.38% PETR4 41.58 ▲ 1.05% VALE3 72.19 ▲ 0.36% ITUB4 42.35 ▲ 0.12% BBDC4 18.44 ▲ 0.16% ABEV3 15.82 ▲ 0.19% BBAS3 20.50 ▲ 1.64% B3SA3 15.03 ▼ 1.51% WEGE3 42.74 ▼ 0.90% PRIO3 58.66 ▲ 1.68% SUZB3 41.81 ▼ 0.19% RENT3 36.83 ▼ 1.76% AZZA3 17.76 ▼ 2.26% CSAN3 3.75 ▼ 1.83% RAIZ4 0.27 — 0.00% PCAR3 2.74 ▲ 5.38% GMAT3 3.83 ▼ 0.52% PSSA3 53.47 ▼ 1.35% CVCB3 1.14 ▲ 5.56% POSI3 3.77 ▲ 1.89% SLCE3 13.68 ▲ 0.81% NATU3 8.70 ▲ 0.81% BRKM5 5.89 ▼ 0.84% RANI3 7.87 ▼ 1.50% CSNA3 5.10 ▲ 0.59% CMIN3 5.44 ▲ 0.93% USIM5 8.31 ▲ 1.84% GGBR4 23.68 ▲ 0.25% ENEV3 25.26 ▼ 1.52% CPFE3 46.33 ▲ 0.02% CMIG4 10.98 ▼ 0.36% EQTL3 38.48 ▼ 2.06% LREN3 13.22 ▼ 0.68% VIVT3 35.59 ▼ 0.22% RAIL3 13.32 ▼ 1.84% KLABIN 17.41 ▼ 0.40% RAIA DROGASIL 18.43 ▼ 1.39% RDOR3 33.74 ▼ 4.82% HAPV3 11.27 ▼ 2.42% FLRY3 16.37 ▼ 1.15% SMTO3 15.41 — 0.00% UGPA3 31.48 ▼ 0.69% VBBR3 33.52 ▼ 1.73% BBSE3 41.07 ▲ 0.05% BPAC11 55.51 ▼ 0.59% CURY3 29.67 ▼ 1.72% AERI3 2.04 ▼ 1.45% VIVARA 21.44 ▼ 2.37% COMPASS 24.37 ▼ 0.94% VAMOS 3.13 ▲ 1.29% SANB11 27.32 ▲ 1.15% ASAI3 8.18 ▲ 0.49% SBSP3 28.47 ▼ 1.76% WALMEX 49.30 ▼ 0.16% GMEXICO 204.93 ▲ 2.04% FEMSA 226.93 ▼ 0.02% CEMEX 21.97 ▲ 0.41% GFNORTE 182.84 ▲ 1.58% BIMBO 59.25 ▼ 0.42% TELEVISA 9.81 ▲ 1.03% AMX 22.71 ▼ 0.13% GAP 378.91 ▲ 0.19% ASUR 272.45 ▼ 0.70% OMA 224.99 ▼ 0.64% KOF 181.36 ▲ 0.30% GRUMA 287.84 ▲ 0.08% KIMBER 38.06 ▼ 0.86% SQM-B 63,900 ▲ 1.23% COPEC 6,360 ▲ 2.58% BSANTANDER 78.70 ▲ 3.43% FALABELLA 5,885 ▲ 0.16% ENELAM 84.30 ▲ 0.23% CENCOSUD 2,015 ▲ 1.02% CMPC 1,085 ▲ 1.78% BANCO CHILE 189.86 ▲ 1.81% LATAM AIR 24.48 ▲ 0.29% YPF 80,550 ▲ 1.70% GGAL 7,955 ▲ 1.40% PAMPA 5,490 ▲ 4.17% TXAR 667.50 ▼ 0.45% ALUAR 967.00 ▲ 0.78% TGS 9,590 ▲ 0.95% CEPU 2,333 ▲ 1.92% MIRGOR 16,875 ▼ 1.46% COME 43.20 ▲ 0.58% LOMA NEGRA 3,650 ▲ 2.17% BYMA 293.50 ▼ 0.09% TELECOM ARG 4,195 ▲ 1.21% ECOPETROL 16.58 ▲ 3.43% BANCOLOMBIA 82.01 ▲ 1.47% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 393.19 ▲ 1.64% SOUTHERN COPPER 183.62 ▲ 4.88% BUENAVENTURA 31.09 ▲ 3.43% MERCADOLIBRE 1,811 ▼ 1.17% NUBANK 14.18 ▲ 1.32% XP 16.59 ▼ 1.28% PAGSEGURO 9.41 ▲ 1.24% STONE 11.07 ▼ 0.49% GLOBANT 32.33 ▲ 0.12% TECNOGLASS 45.76 ▼ 0.76% GAP AIRPORT 217.85 ▲ 0.34% ASUR 272.45 ▼ 0.70% OMA AIRPORT 103.62 ▼ 0.38% AMX ADR 26.07 ▼ 0.11% FEMSA ADR 130.50 ▲ 0.38% CEMEX ADR 12.64 ▲ 1.20% PETROBRAS ADR 18.43 ▲ 1.29% VALE ADR 14.19 ▲ 0.60% ITAU ADR 8.34 ▲ 0.18% SANTANDER BR 5.41 ▲ 0.65% AMBEV ADR 3.09 ▲ 0.44% CSN 1.02 ▲ 0.50% GERDAU 4.69 ▲ 0.21% LATAM ADR 52.51 ▲ 1.48% BTC 66,652 ▲ 2.18% ETH 1,930 ▲ 1.36% SOL 78.03 ▲ 0.31% XRP 1.15 ▲ 3.74% BNB 575.13 ▲ 0.77% ADA 0.17 ▲ 3.01% DOGE 0.07 ▲ 1.76% AVAX 6.61 ▲ 0.51% LINK 8.68 ▲ 1.14% DOT 0.86 ▲ 3.49% LTC 47.77 ▲ 0.91% BCH 225.33 ▲ 2.47% TRX 0.33 ▲ 0.56% XLM 0.19 ▲ 2.28% HBAR 0.07 ▲ 2.99% NEAR 1.95 ▼ 1.19% ATOM 1.49 — 0.00% AAVE 95.68 ▲ 6.58% SELIC 14.25% EMBRAER 82.94 ▼ 0.42% EMBRAER ADR 65.27 ▼ 1.01% JBS 11.82 ▼ 1.76% JBS BDR 59.91 ▼ 1.45% MBRF3 15.02 ▲ 3.44% MBRFY 2.96 ▲ 1.72% INTER 5.55 ▼ 1.33%
since 2009
Tuesday, July 21, 2026

Argentina Latin America

Argentina Passes Glacier Law Reform, Opening Andes to Mining

By · April 9, 2026 · 3 min read

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Key Points

Argentina’s Chamber of Deputies approved the reform of the Glacier Law on Wednesday, delegating to provinces the power to decide which of the country’s nearly 17,000 ice bodies to protect and which to open for mining

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The vote hands Milei his first legislative victory of the year after a month dominated by corruption scandals — and gives mining companies access to Andean areas that had been off-limits since 2010

Opposition lawmakers announced immediate court challenges, warning the reform is unconstitutional and will create legal uncertainty that deters the very investment it was designed to attract

The Argentina glacier law passed Wednesday night after a tense session in which the Adorni property scandal, the $LIBRA crypto collapse, and the future of Andean water reserves competed for airtime — delivering Milei’s ruling coalition a victory it needed badly after weeks of political damage, El País and Infobae reported.

The bill, which already had Senate approval from February 26, becomes law immediately. Under the new framework, provinces will evaluate each of Argentina’s nearly 17,000 glaciers and ice bodies — covering 8,484 square kilometers, an area 41 times the size of Buenos Aires — on a case-by-case basis. Only those deemed to serve an “effective hydrological function” will retain protection. The rest become available for extractive activities, including open-pit mining for copper, gold, silver, and lithium across the Andes.

What’s New Since Yesterday

The session itself became a showcase of Argentina’s political fractures. Government deputies argued the reform was essential for competitiveness — pointing out that Chile, which shares 5,000 kilometers of Andean border, generated over $60 billion in mining exports in 2025, ten times Argentina’s output. Opposition lawmakers countered that the original 2010 law never blocked mining investment and that delegating glacier protection to mining-friendly provincial governments is a conflict of interest. Former cabinet chief Miguel Ángel Pichetto warned that the constitutional questions would generate litigation and uncertainty — the opposite of what investors need.

The Adorni scandal — which our Session 14 coverage detailed — loomed over the debate. The opposition attempted to summon cabinet chief Adorni for questioning over unexplained property purchases, but the motion failed. Peronist deputy Juan Grabois captured the mood with a line that connected all of Milei’s vulnerabilities at once, calling the government’s scientific arguments less credible than Adorni’s mortgages and Milei’s cryptocurrency.

Live Market IntelligenceArgentina — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Argentina — Live Market Board

BYMA · Buenos Aires
Jul 21, 2026 · 12:55

S&P MERVAL · benchmark
3,281,489
+1.79%
L 3,223,652day rangeH 3,285,823

+60.38% over 12 months

Market breadth · 14 names
71% advancing

10 ▲ advancing4 declining ▼

Currencies, rates & key inputs
USD / ARS
1,477
-0.30%

Brent crude
91.63
+2.70%

Soybeans
1,219
-0.57%

Sector heatmap · average move today
Utilities
+3.05%
PAMPA, CEPU

Materials
+1.48%
ALUAR, LOMA NEGRA

Energy
+1.33%
YPF, TGS

Telecom
+1.21%
TELECOM ARG

Financials
+0.63%
GGAL, COME, BYMA

Technology
+0.12%
GLOBANT

Mining
-0.45%
TXAR

Consumer Disc.
-1.32%
MIRGOR, MERCADOLIBRE

Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil
172,758.89
-0.35%

S&P/BMV IPCMexico
66,125.27
-0.74%

S&P IPSAChile
10,877.68
-0.18%

S&P MERVALArgentina
3,281,489
+1.79%

MSCI COLCAPColombia
2,309.56
+0.49%

BVL S&P PerúPeru
56,620.35

Full instrument board
Instrument Last Change YoY Prev. High Low Volume
MERVAL 3,281,489 +1.79% +60.38% 3,223,652 3,285,823 3,223,652
USD/ARS 1,477 -0.30% +15.87% 1,482 1,481 1,470
YPF 80,550 +1.70% +104.31% 79,200 80,975 79,250 111,371
GGAL 7,955 +1.40% +31.79% 7,845 8,005 7,870 378,814
PAMPA 5,490 +4.17% +52.72% 5,270 5,505 5,280 521,947
TXAR 667.50 -0.45% +5.71% 670.50 679.50 664.00 225,033
ALUAR 967.00 +0.78% +36.58% 959.50 972.00 945.50 133,843
TGS 9,590 +0.95% +45.30% 9,500 9,730 9,415 26,415
CEPU 2,333 +1.92% +59.79% 2,289 2,341 2,256 181,191
MIRGOR 16,875 -1.46% -20.87% 17,125 16,975 16,600 4,589
COME 43.20 +0.58% -12.36% 42.95 43.50 42.84 5,750,597
LOMA NEGRA 3,650 +2.17% +32.94% 3,573 3,650 3,480 27,573
BYMA 293.50 -0.09% +54.07% 293.75 296.75 291.50 971,889
TELECOM ARG 4,195 +1.21% +80.82% 4,145 4,233 4,093 12,830
GLOBANT 32.33 +0.12% -62.48% 32.29 32.75 31.31 233,403
MERCADOLIBRE 1,811 -1.17% -24.00% 1,832 1,840 1,798 83,866

Largest moves today
PAMPA
5,490
+4.17%
LOMA NEGRA
3,650
+2.17%
CEPU
2,333
+1.92%
MERVAL
3,281,489
+1.79%
YPF
80,550
+1.70%
MIRGOR
16,875
-1.46%
GGAL
7,955
+1.40%
TELECOM ARG
4,195
+1.21%

The session read
The S&P MERVAL rose 1.79%, with breadth positive — 10 of 14 names higher. Utilities led, while Consumer Disc. lagged.

100,000 Tried to Be Heard

Perhaps the most striking number from the process was the public hearing: more than 100,000 people registered to participate — a record for any Argentine legislative proceeding. At five minutes per speaker, hearing them all would have taken 340 uninterrupted days. The Câmara asked them to submit written or video statements instead. Greenpeace delivered a petition with 67,000 signatures and hung banners on the Congressional monument reading “Don’t betray the Argentines.” Street protests accompanied the vote, but none changed the arithmetic that the government had locked in before the session began.

What Happens Next

The opposition confirmed it will challenge the law in court, arguing it violates constitutional environmental protections and the principle of non-regression in environmental law. Environmental organization Círculo de Políticas Ambientales called the reform unconstitutional and warned that a legislative process conducted without scientific evidence, transparency, or meaningful public participation cannot strengthen either water security or legal certainty. In 2019, the Supreme Court rejected a challenge from Barrick Gold and upheld the original law, ruling that glaciers are public goods and that collective water rights prevail over private interests. Whether the reformed version survives the same scrutiny will determine whether the $40 billion mining pipeline Milei is selling to international investors actually materializes — or becomes another Argentine promise tangled in courts.

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