IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,866.61 ▼ 0.87% MERVAL 3,049,121 ▼ 0.29% COLCAP 2,544.56 ▲ 0.40% BVL PERÚ 59,978.22 ▼ 0.31% USD/BRL5.12▼ 0.03% USD/MXN16.88▼ 0.26% USD/CLP933.68— 0.00% USD/COP3,124▼ 1.12% USD/PEN3.35▼ 0.34% USD/ARS1,509▲ 0.01% USD/UYU40.24▲ 1.26% USD/PYG5,947▲ 2.52% USD/BOB12.40▲ 3.51% USD/DOP59.00▲ 0.85% USD/CRC448.67▲ 1.62% USD/GTQ7.63▲ 2.29% USD/HNL26.84▲ 0.28% USD/NIO36.62▲ 0.07% USD/VES805.37▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.91% EUR/BRL5.95▲ 0.91% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 64,866.61 ▼ 0.87% MERVAL 3,049,121 ▼ 0.29% COLCAP 2,544.56 ▲ 0.40% BVL PERÚ 59,978.22 ▼ 0.31% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Saturday, September 5, 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 Facts

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

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

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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.

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.

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
Sep 5, 2026 · 07:57

S&P MERVAL · benchmark
3,049,121
-0.29%
L 2,991,150day rangeH 3,042,365

+30.51% over 12 months

Market breadth · 14 names
29% advancing

4 ▲ advancing10 declining ▼

Currencies, rates & key inputs
USD / ARS
1,493
+0.10%

Brent crude
88.88
-0.03%

Soybeans
1,184
+3.20%

Sector heatmap · average move today
Utilities
+1.27%
PAMPA, CEPU

Energy
+0.05%
YPF, TGS

Materials
-0.57%
ALUAR, LOMA NEGRA

Telecom
-0.70%
TELECOM ARG

Financials
-1.07%
GGAL, COME, BYMA

Technology
-2.26%
GLOBANT

Mining
-2.35%
TXAR

Consumer Disc.
-2.40%
MIRGOR, MERCADOLIBRE

Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil
185,147.15
-0.02%

S&P/BMV IPCMexico
64,866.61
-0.87%

S&P IPSAChile
11,315.26
-1.14%

S&P MERVALArgentina
3,049,121
-0.29%

MSCI COLCAPColombia
2,544.56
+0.40%

BVL S&P PerúPeru
59,978.22
-0.31%

Full instrument board
Instrument Last Change YoY Prev. High Low Volume
MERVAL 3,049,121 -0.29% +30.51% 3,022,485 3,042,365 2,991,150
USD/ARS 1,493 +0.10% +12.96% 1,491 1,494 1,480
YPF 7,810 +0.26% +72.84% 7,790 7,850 7,600 1,763,858
GGAL 6,980 -0.78% +1.82% 7,035 7,115 6,920 1,564,062
PAMPA 5,115 +0.69% +26.70% 5,080 5,140 5,000 721,190
TXAR 747.50 -2.35% +18.67% 765.50 770.00 742.50 771,892
ALUAR 938.00 -1.21% +29.83% 949.50 951.00 932.50 135,426
TGS 8,870 -0.17% +15.05% 8,885 9,075 8,720 143,546
CEPU 2,156 +1.84% +28.36% 2,117 2,165 2,086 404,146
MIRGOR 1,650 -1.20% -92.90% 1,670 1,670 1,635 20,877
COME 40.93 -0.73% -30.47% 41.23 41.60 40.50 4,258,884
LOMA NEGRA 3,130 +0.08% +5.80% 3,128 3,205 3,090 182,992
BYMA 275.00 -1.70% +35.14% 279.75 282.50 272.00 1,409,575
TELECOM ARG 4,233 -0.70% +55.19% 4,263 4,335 4,160 31,896
GLOBANT 38.10 -2.26% -49.65% 38.98 38.70 36.77 793,552
MERCADOLIBRE 1,870 -3.59% -20.71% 1,940 1,927 1,870 329,640

Largest moves today
MERCADOLIBRE
1,870
-3.59%
TXAR
747.50
-2.35%
GLOBANT
38.10
-2.26%
CEPU
2,156
+1.84%
BYMA
275.00
-1.70%
ALUAR
938.00
-1.21%
MIRGOR
1,650
-1.20%
GGAL
6,980
-0.78%

The session read
The S&P MERVAL eased 0.29%, with breadth negative — 4 of 14 names higher. Utilities led, while Consumer Disc. lagged.

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.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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