BHP's Vicuna could double investment in Argentina copper project to $800 mln in 2026, executive says

Record ID: 2338954

  • Title: BHP's Vicuna could double investment in Argentina copper project to $800 mln in 2026, executive says
  • Date: 9th February 2026
  • Summary: IGLESIA, SAN JUAN PROVINCE, ARGENTINA (FEBRUARY 3, 2026) (REUTERS) BATIDERO CAMP VARIOUS OF MINE SITE IN AN ANDEAN MOUNTAIN VARIOUS OF BATIDERO CAMP FACILITIES VARIOUS OF TRUCKS VARIOUS OF GEOLOGISTS AND MINE STAFF SORTING SAMPLES OF MINERAL EXTRACTED FROM THE MINE (SOUNDBITE) (Spanish) VICUNA COMMUNICATIONS DIRECTOR, CATERINA DZUGALA, SAYING: "Well, in 2025, nearly 400 mi
  • Embargoed:
  • Keywords: ARGENTINA COPPER GOLD MINE MINING SILVER VICUNA CORP
  • Location: IGLESIA, SAN JUAN PROVINCE, ARGENTINA
  • City: IGLESIA, SAN JUAN PROVINCE, ARGENTINA
  • Country: Argentina
  • Topics: Company News Markets,South America / Central America,Economic Events
  • Reuters ID: LVA001372808022026RP1
  • Aspect Ratio: 16:9
  • Story Text: High in the Andes Mountains, more than 4,200 meters above sea level on the Argentina–Chile border, mining company Vicuna Corp aims to double its investment this year in one of the world’s biggest copper bets, a company executive said.
    Vicuña Corp., formed by Australia’s BHP and Canada’s Lundin Mining, could invest about $800 million this year in the Filo del Sol and Josemaria mines, according to communications director Caterina Dzugala. The two projects could turn out to be among the most consequential copper developments globally.
    "In 2025, almost $400 million was invested... and we aspire to double that figure this year," Dzugala said during a visit to the Batidero camp, the project’s operational base in San Juan province.
    The projects form the Vicuna District, one of the world’s largest undeveloped copper, gold and silver deposits, according to the company. Vicuna estimates total investment at $5 billion, though local officials and industry sources put the figure as high as $15 billion.
    Argentina has not produced copper since the Alumbrera mine closed in 2018. It is seeking to re‑enter the global market as governments and automakers warn of looming shortages of the metal critical to electrification.
    Geologists sort freshly extracted samples as crews advance along rough mountain roads toward the self‑contained Batidero camp, built to house more than 1,000 workers on a stark landscape of foxes and roaming vicunas.
    The project is expected to begin production in 2030, with both mines processing concentrate at a central plant in Josemaría, which has an estimated lifespan of 25 years.
    (Production: Juan Bustamante, Agustin Marcarian, Anna Portella)
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