The Vicuña copper mining project in San Juan, Argentina, aims to invest US$7.1 billion over three years, potentially becoming one of the world's largest mining operations.
The Vicuña project, led by an investment of US$7.1 billion over the next three years, aims to establish a major copper mine in San Juan at an altitude of over 4200 meters. The project, backed by international companies Lundin Mining and BHP, underscores the rising demand for copper due to the global transitions towards renewable energy and artificial intelligence technologies, which are expected to sustain high copper prices.
If successful, the initiative would initially be the largest foreign direct investment in Argentina, with forecasts suggesting total expenditures could reach US$18 billion over the next decade. The investment would position the Vicuña mine among the top five mines globally for copper, gold, and silver, significantly impacting the local economy while responding to the escalating demand for metals.
As the company prepares for construction beginning in 2027, stakeholders are keenly observing the implications of this investment on both local and national levels, particularly in terms of job creation and infrastructure development. The project reflects a broader trend in the mining sector where international companies are seeking to exploit mineral resources in high-demand markets, especially in light of the ongoing energy transition.
