BHP and Lundin’s Argentina copper projects target 2030 start

With global copper demand rising due to its critical role in renewable energy and electric vehicles, Argentina’s emerging production capacity could play a pivotal role in the global supply chain.

Miner Vicuna Corp, a joint venture backed by Australia’s BHP and Canada’s Lundin Mining, has announced plans to begin production at two major copper projects in Argentina by 2030. The company shared this development during ArMinera, one of the country’s most significant mining events.

Argentina, which has not produced copper since 2018, holds a promising portfolio of copper projects that could soon propel it into the ranks of the world’s top 10 copper producers. Among the most advanced initiatives are Vicuna’s Josemaria and Filo del Sol mines, which together contain an estimated 13 million metric tons of measured copper and 25 million tons of inferred resources.

According to Jose Morea, Vicuna’s country head, each project will require approximately three years or more for construction once the green light is given. “The construction timelines for this type of project, for each deposit, would take around three years, maybe a little more,” he told Reuters. “It wouldn’t be sensible to think that, if approved sometime after the presentation of that technical report, we could accelerate it before 2030.”

The company expects to submit its technical report to Vicuna’s board in the first half of 2026. The report will determine the production startup date and projected lifespan of the projects.

Vicuna is also preparing to apply for Argentina’s Large Investment Incentives Regime, a policy launched by President Javier Milei’s administration to attract substantial foreign investment. The company has earmarked $400 million for investment in Argentina this year, as part of a larger $5 billion commitment to develop both sites.

Josemaria, currently in the pre-construction phase, is considered one of the country’s most advanced copper projects. Filo del Sol, which contains copper, gold, and silver, is still in the exploration stage and lies just 11 kilometers from Josemaria, near the border with Chile.