Vicuña Corp, a joint venture between BHP and Lundin Mining, is aiming to double its investment this year to about $800 million in the massive Filo del Sol and Josemaría copper projects high in the Andes on the Argentina–Chile border. Company officials say roughly $400 million was deployed in 2025, with spending set to accelerate as development advances in what could become one of the most significant new copper districts globally. The projects, based out of the Batidero camp in Argentina’s San Juan Province, are part of the broader Vicuña District, believed to host one of the world’s largest undeveloped copper, gold, and silver deposits.
The high-altitude operations — more than 4,200 meters above sea level — pose extreme logistical and environmental challenges, including thin air, sudden weather shifts, and complex infrastructure needs. Workers operate from a self-contained camp built for over 1,000 personnel, while geologists continue evaluating fresh samples that could further expand the resource base. The integrated project is expected to begin production around 2030, with ore from both mines processed at a central plant in Josemaría, which has an estimated operational lifespan of 25 years.
The investment push comes as Argentina seeks to reestablish itself as a copper producer after output ceased when the Alumbrera Mine closed in 2018. President Javier Milei’s government is promoting mining through incentive regimes designed to attract foreign capital, and Vicuña has applied for benefits under the large investment framework. Company estimates suggest the district contains 13 million metric tons of measured copper and 25 million inferred, alongside substantial gold and silver, positioning the project as a strategic bet amid growing global demand for metals essential to electrification.
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