🇦🇷 Argentina is set to invest approximately $19.5 billion in six advanced copper mining projects, aiming to enter production between 2027 and 2031. This ambitious plan seeks to leverage the country’s vast mining potential and position Argentina among the top 10 global copper producers, a metal critical for the global energy transition.
The $19.5 billion investment focuses on the six most advanced copper projects across key provinces including San Juan, Mendoza, La Rioja, Salta, Catamarca, and Jujuy. These projects are led by major mining groups such as Lundin Mining and BHP (Vicuña), McEwen (Los Azules), Glencore (El Pachón and Mara), Zonda Metals GmbH and Alberdi Energy (PSJ), and First Quantum (Taca Taca). By 2031, these initiatives could yield over 1,080,000 tons of copper annually, surpassing historical production levels.
Investment peaks are expected in 2030 and 2031, with around $6.3 billion and $6.2 billion allocated respectively, highlighting strong capital commitment. Earlier years show significant investments as well, with $4.56 billion in 2028 and $2.46 billion in 2029.
Historically, Argentina was a notable copper producer, peaking in 2002 at 203,700 tons. However, production declined sharply after the closure of the Bajo La Alumbrera mine in 2018. Current copper output is marginal, estimated at 14,500 tons in 2024, primarily as a byproduct from the Lindero gold mine in Salta. Copper exports have similarly fallen from a peak of $1.939 billion in 2007 to just $3.5 million in 2024.
This revitalization effort aligns with the global surge in copper demand driven by energy transition technologies such as electromobility, smart electrical infrastructure, and clean tech. The recently approved Large Investment Incentive Regime (RIGI) with tax and currency benefits is expected to be instrumental in attracting the necessary investments.
Export projections are optimistic, with copper exports anticipated to reach $3.03 billion by 2029 and peak at $11.74 billion in 2033, reflecting the sector’s growth potential. Copper leads Argentina’s mining investment plans, ahead of lithium, silver, gold, and uranium.
The government and industry stakeholders recently convened at the Argentina Cobre 2025 forum in San Juan, emphasizing financing, sustainability, infrastructure, and governance to strengthen the copper sector.
Geographically, the projects are concentrated in the Andean and Altiplano regions, particularly San Juan, Catamarca, Mendoza, Salta, La Rioja, and Jujuy. The mining boom is expected to transform regional economies, create thousands of jobs, and integrate Argentina more deeply into global copper value chains alongside Chile and Peru.
This large-scale investment signals significant business opportunities, promising to revitalize Argentina’s mining sector, attract foreign direct investment, and support the global clean energy transition by increasing copper supply from a strategically important region.
Source(s): https://www.swissinfo.ch/spa/argentina-prev%C3%A9-inversiones-por-20.000-millones-de-d%C3%B3lares-en-la-miner%C3%ADa-de-cobre/89788936, https://www.redimin.cl/argentina-impulsa-21-proyectos-mineros-de-cobre-con-inversiones-millonarias/, https://mase.lmneuquen.com/mineria/argentina-apuesta-fuerte-al-cobre-el-camino-ser-una-potencia-minera-n1202903
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