Argentina’s Earth Yields 13 Million Tons Of Copper: Global Markets Tremble At Historic Find

While mining in the remote Andes mountains, Lundin Mining Corp and BHP Group have uncovered what experts are calling Argentina’s most significant mineral discovery in decades. The joint venture, named Vicuña, has uncovered the largest copper, gold, and silver deposit found in 30 years along the Argentina-Chile border.

The discovery spans two adjacent deposits, Filo del Sol and Josemaría. Measurements reveal 13 million tonnes of copper in measured and indicated resources, alongside 32 million ounces of gold and 659 million ounces of silver. Inferred resources add even more value, with an additional 25 million tonnes of copper, 49 million ounces of gold, and 808 million ounces of silver.

The high-grade sulphide core at Filo del Sol contains 4.5 million tonnes of copper, 9.6 million ounces of gold, and 259 million ounces of silver. There’s also valuable oxide mineralization at the surface, with high-grade oxide layers containing 911 thousand tonnes of copper. The extraction methods will likely resemble the advanced mining technologies being developed for underwater mineral harvesting in the Pacific.

BHP acquired Filo Corp for US$3 billion in 2024, with each company now holding a 50% stake in the project. They’ve conducted exploration with 400 additional holes, revealing the deposit may hold five times more metals than first estimated. CEO Jack Lundin has emphasized the exceptional significance of this discovery in recent announcements.

This discovery positions Argentina to become a leading copper exporter within a decade. The green energy sector driving global copper demand presents an unprecedented opportunity for Argentina’s economic transformation. The economic benefits could be substantial, potentially funding schools, medical centers, and roads in remote regions while creating jobs and boosting infrastructure.

The project faces challenges, including extreme altitudes, severe weather conditions, and environmental concerns. Some advocates worry about potential violations of Argentina’s Glacier Law and water usage in the already dry region near the Atacama Desert.

Exploration continues with promising results. The drilling remains open at depth and to the south, with the nearby Flamenco zone showing additional mineralization. Experts believe further exploration may reveal even greater mineral wealth, reshaping global perception of Argentina as a mining powerhouse in the copper industry.