Massive Andes discovery promises economic boom for Argentina

A groundbreaking mineral discovery in the Andes Mountains is poised to transform South America’s mining industry and significantly boost Argentina’s economy.

The newly identified Vicuña Mineral Resource, located along the Argentina-Chile border in San Juan Province and the Atacama Region, contains enormous reserves of copper, gold, and silver—potentially one of the largest finds in the past 30 years, Caliber.Az reports via Daily Galaxy.

The deposit boasts an estimated 13 million tons of copper, 32 million ounces of gold, and 659 million ounces of silver, ranking it among the world’s biggest sources of these essential metals. Mining giants Lundin Mining and BHP spearhead the project, marking a significant milestone for both companies and the region.

The resource is divided into two main zones: Filo del Sol, with over 600 million tons at 1.14 per cent copper equivalent, and Josemaria, containing nearly 200 million tons at 0.73 per cent copper equivalent. This vast deposit could establish a globally important mining district capable of supplying strategic metals for decades.

Jack Lundin, CEO of Lundin Mining, commented, “We see the potential for Vicuña to be not only a significant copper producer but also one of the world’s largest gold and silver mines as well.”

For Argentina, the discovery represents a critical economic opportunity. It is expected to create jobs, boost trade, and accelerate infrastructure development, especially in underfunded areas like San Juan Province. Copper’s role in green energy and electric vehicles positions Argentina to become a key global supplier amid growing demand.

However, the project also raises environmental and social concerns. The Andes region hosts fragile ecosystems vulnerable to mining impacts, prompting calls from environmental groups for strict oversight. Indigenous communities have voiced worries about preserving their ancestral lands and cultural heritage, emphasizing the importance of fair consultation as required by Argentine law.

To address these challenges, the involved companies have pledged to use advanced environmental management methods, including real-time monitoring and water treatment, aiming to avoid ecological damage seen in other mining operations.

This discovery may also foster greater collaboration across the Andean mining belt, where Chile and Peru have historically led copper production. With its vast copper, gold, and silver reserves, the Vicuña project highlights the region’s growing strategic importance in global metals markets.

By Naila Huseynova