A monumental discovery in the Andes Mountains along the Argentina-Chile border has unveiled one of the world's largest and highest-grade undeveloped deposits of copper, gold, and silver, marking the biggest find of its kind in the past three decades. The Vicuña Mineral Resource, encompassing the Filo del Sol and Josemaria projects, is poised to significantly alter South America’s mining landscape and bring substantial economic benefits to Argentina.
The massive deposit, controlled by a joint venture between Lundin Mining and BHP, contains an estimated 13 million tons of copper, 32 million ounces of gold, and 659 million ounces of silver. This places the Vicuña district among the world’s top ten known copper deposits. Jack Lundin, President and CEO of Lundin Mining, expressed the project's immense potential, stating, “The initial Mineral Resource has highlighted the potential for one of the highest grade undeveloped open pit copper projects in the world and one of the largest gold and silver resources globally.” He added that the Vicuña district is "poised to develop into a world-class deposit that will support a globally ranked mining complex."
The significance of this discovery extends beyond its sheer volume. Copper, a vital component in wiring, electronics, machinery, and increasingly, clean energy technologies like electric vehicles and renewable power installations, is in high demand globally. Gold and silver, prized for their applications in jewelry, medical devices, and chip manufacturing, further solidify the deposit’s economic importance.
While the economic prospects are bright, the companies involved, Lundin Mining and BHP, are emphasizing a cautious and responsible approach to development. Future plans include carefully scaled production and the utilization of advanced technology to ensure profitability while mitigating environmental concerns. Environmental organizations are calling for strict supervision to protect the fragile Andean ecosystems in this sensitive border region. Furthermore, indigenous populations residing in the Andes have voiced concerns regarding land rights and the preservation of their cultural heritage, necessitating open consultations and fair treatment as per Argentina’s national laws.
The discovery also has the potential to foster greater collaboration within the broader Andean mining belt, encouraging the exchange of knowledge, labor, and capital between Argentina, Chile, and Peru, who have historically dominated copper production. Improved transportation infrastructure, including highways, railways, and customs facilities, will be critical for efficient operations and enhanced regional connectivity.
A comprehensive technical report outlining the exploration strategy, project timeline, and economic forecasts for the medium and long term is expected by the first quarter of 2026. This landmark discovery promises a transformative future for Argentina and the South American mining sector, balancing economic growth with environmental and social responsibility.
