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In brief

On 13 July 2023, Resolution No. 90/2023 (“Resolution“) of the National Mining Secretariat (“Secretariat“) was published, establishing the updated mining fee (canon) that considers the consumer price index (IPC) published by the National Institute of Statistics and Census (INDEC). The update will be carried out in December of each year and will be applicable to the value of the mining canon in the following year.

Considering that the IPC is an inflation index, it is expected that the higher mining canon will be considerable year on year (as of December 2022, the IPC at 94.8% year-round and already at 50.7% in 2023). This implies a direct increase not only in the mining canon but also with respect to the investment plans required under the Argentine Mining Code, which are calculated on the basis of the canon value.

In focus

The Resolution’s main points are as follows:

  • The canon updates, established in the current wording of Article 213 of the Mining Code, will be carried out through a resolution to be published every December by the Secretariat. 
  • The value of the mining canon will be based on the IPC index prepared and published by the INDEC, and the accumulated value of the 12 months prior to the report will be used for its calculation.
  • The canon update will be applicable for the fiscal years following the issuance of the administrative act of the Secretariat establishing its new value.

The Resolution regulates the provisions of Law No. 27,701 on the General Budget of the National Administration, which on 1 December 2022: (i) granted the Secretariat the power to issue the Resolution; and (ii) provided for a substantial mining canon increase for 2023.

Click here to access the Spanish version.


Adolfo has been a member of the Management Committee of Baker McKenzie’s Buenos Aires office since 2013 and the managing partner of that office since 2021. He has extensive experience working on corporate and commercial transactions for companies in the oil & gas, mining and natural resources industries. Adolfo has authored several reviews for various publications — including Sweet & Maxwell — usually involving Argentinean investments and mining.


Ezequiel Artola is a partner in the Energy, Mining and Infrastructure Practice Group in Buenos Aires. He advises clients on a variety of complex transactional, general commercial and regulatory matters, with emphasis on mergers and acquisitions, joint ventures, commercial agreements and corporate practice. Ezequiel was assistant professor of commercial and civil contracts at the Universidad de Buenos Aires, and has written articles related to mining, oil and gas, and distribution and agency agreements.


Delfina Ferrario is an Associate in Baker McKenzie, Buenos Aires office.

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