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Argentina approves $9.7 billion Vicuna copper mine project

Argentina's government has approved a $9.7 billion main investment plan for the Vicuna copper project high in the Andes near the Chilean border. Co-developed by Lundin Mining and BHP, the project ranks among the decade's largest mining bets aimed at filling a structural shortfall in global copper supply.

Open-pit copper mine in a high-altitude mountain setting
Open-pit copper mine in a high-altitude mountain settingPhoto: Usame Dzinovic / Pexels
Investing.com Americas60 d agoBHP LUN
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Argentine authorities approved a $9.7 billion main investment programme for the Vicuna copper project developed jointly by Lundin Mining and BHP, Investing.com reported. The site, high in the Andes in San Juan province, hosts one of the world's largest undeveloped copper deposits, and the partners will set out annual production targets for the coming decade.

The project is being assessed under President Milei's RIGI incentive regime for large investors, which offers predictability on tax, currency transfer, and customs treatment. Discussions are also underway on integrated logistics corridors with neighbouring projects in Chile.

Global copper demand is rising structurally on energy transition and data-center construction, while supply-side discoveries have been limited. Whether large projects such as Vicuna ease the post-2030 global deficit is the question the sector is watching. Not investment advice.

CommoditiesEnergyTradeBHPLUNSouth AmericaInvesting.com Americas
Source: Investing.com Americas
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This article is an AI-curated summary of the original story published by Investing.com Americas. The illustration is a stock photo by Usame Dzinovic from Pexels and is not from the original story.

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