A giant copper, gold and silver mine has been identified in the Andes: a strategic turning point for the Argentine economy.
- An estimated 12 million tonnes of copper and 80 million ounces of gold and silver have been located in the province of San Juan.
- The project is being led by BHP and Lundin Mining through their joint venture Vicuña.
- Argentina could become a major player in global copper mining by 2035.
- The stakes go beyond the economy: local employment, infrastructure, environmental pressure and regional diplomacy are all at stake.
Argentina is entering a new era. A huge reserve of copper, gold and silver has just been identified in the Andean highlands of the province of San Juan, marking the largest metal discovery recorded in more than three decades.
A strategic reserve with exceptional potential
According to initial data released by the Vicuña consortium, which includes BHP and Lundin Mining, the site is estimated to contain more than 12 million tonnes of copper, along with more than 80 million ounces of gold and silver. This estimate instantly positions Argentina among the future mining powers of the South American continent.
Lundin Mining CEO Jack Lundin sees this breakthrough as a unique opportunity to strengthen the country’s position in the global supply chain for industrial and monetary metals.
Analysts are already scrutinising the economic benefits. In the short term, this discovery could generate thousands of direct and indirect jobs, while stimulating the transport, infrastructure and logistics sectors.
In a historically isolated region, local authorities hope that the revenues from this operation will help finance schools, hospitals and roads, thereby closing a persistent structural gap.
A turning point for San Juan, the future copper hub
The province of San Juan, hitherto more associated with its mountainous terrain than its resources, could become a strategic hub in the global supply of copper, a material that is now critical to the global energy transition.
With this breakthrough, Argentina could rival Chile and Peru, the historic leaders in mining in the Andes.
Structured international cooperation
The Vicuña project, the result of a partnership between BHP and Lundin Mining, is committed to technologically advanced and environmentally friendly mining. Project representatives emphasise the need for open dialogue with local communities to ensure the social and ecological legitimacy of the operation.
The companies involved mention the implementation of strict protocols for water treatment and mining waste management, as well as real-time monitoring of mining activities.
Copper, at the heart of this discovery, is essential for the manufacture of batteries, electric vehicles, solar panels and electronic equipment. Global demand for this metal continues to grow.
Gold and silver, meanwhile, retain their status as safe-haven assets, but are also essential components in the medical industry, semiconductors and jewellery. This triple component gives the San Juan mine a rare strategic value.
Environmental tensions under scrutiny
Environmental organisations are closely monitoring this project. The proximity of the Chilean border and the fragility of Andean ecosystems require rigorous management of impacts. Companies are required to comply with Argentine laws on consultation with indigenous communities and to preserve ancestral lands.
While some communities hope for positive spin-offs in terms of public investment, others are concerned about water consumption, soil stability, and the transformation of local economies centred on agriculture and tourism.
A new regional geopolitical ambition
This development could lead to a strategic rebalancing in South America. Argentina now has leverage to strengthen its trade relations and attract foreign investment, particularly in extraction and transport technologies.
Infrastructure will need to keep pace: roads, railways, ports and customs facilities require rapid modernisation to streamline the transport of minerals, while improving worker safety and mobility for residents.
Local educational and entrepreneurial potential
Beyond mining, the momentum generated is sparking young people’s interest in careers in geology, engineering, logistics and extractive finance. Local universities could adapt their programmes to meet this new demand.
Local micro-enterprises and SMEs also see opportunities in the hospitality, transport, industrial maintenance and equipment sales sectors.
The prospects are immense, but those involved in the project are realistic: avoiding a classic boom and bust cycle remains a challenge. Experts are calling for responsible development plans capable of transforming natural resources into shared progress rather than concentrated rents.
Argentina has a rare economic lever at its disposal, which could reduce its external debt and improve its public finances if managed rigorously and transparently.
