BHP and Lundin Mining Lead $400M Investment in Argentina Copper Hub

BHP and Lundin Mining Drive Copper Growth in Argentina

BHP and Lundin Mining jointly invest over $400 million through their venture, Vicuña Corp, to develop a major copper project in Argentina. The project centers on the Filo del Sol and Josemaría deposits, located near the Chilean border in San Juan province. Vicuña aims to start production by 2030 and has extended the mine life from 19 to 25 years after confirming richer-than-expected resources. The project plans an ore processing capacity of 175,000 tonnes per day, positioning it among Argentina’s largest mining investments this year.

Strategic Moves to Boost Project Viability

Vicuña Corp is actively pursuing tax, customs, and currency exchange benefits under Argentina’s RIGI investment incentives program. These incentives will help ensure the project remains competitive against other Latin American jurisdictions. Meanwhile, the company appointed mining veteran Ron Hochstein as CEO to oversee upcoming development phases. Hochstein brings extensive leadership experience, including his recent tenure as Chair and CEO of Lundin Gold. His appointment aims to strengthen operational planning ahead of a technical report due in March.

SuperMetalPrice Commentary:

This joint venture signals a strategic pivot toward revitalizing Argentina’s copper industry, which has remained dormant since 2018. The significant investment by BHP and Lundin Mining reflects growing global demand for copper amid the energy transition. The extension of mine life and capacity plans indicate long-term confidence in the region’s resource potential. As tax incentives shape competitiveness, this project could become a vital copper hub, enhancing supply security for global markets.