Vicuña, a joint venture formed by mining companies BHP and Lundin Mining, announced an investment of US$18 billion to develop Argentina's largest copper project. The project is located in the province of San Juan and is expected to begin its first operational phase by 2030.
Of the total projected investment, US$7 billion will be invested between 2027 and 2030, the estimated period for the start of production in the first phase. The remainder will be disbursed in stages throughout the complete development of the operation.
Copper is considered a strategic input for the global energy transition, with intensive use in... electric vehiclesTransmission networks, energy storage systems, and renewable energy generation projects, such as solar and wind power.
According to industry estimates, low-carbon technologies require significantly larger volumes of the metal compared to traditional fossil fuel-based systems. The project integrates the Josemaría and Filo del Sol deposits, consolidated under the Vicuña structure after the unification of assets.
The initial phase will prioritize Josemaría, which has the most advanced technical studies and infrastructure. The project is expected to contribute to strengthening the supply chain linked to electrification and energy modernization, aligning with the expanding international demand for large-scale copper production.
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