Copper Mining Projects Continue to Gain Traction in Argentina

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)

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Summary

The San Jorge copper project moves forward as Argentina's copper prospects continue to gain traction. The country could soon become a major copper producer.

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San Jorge Copper Project Receives Environmental Approval

The senate in Mendoza province has approved the environmental impact assessment (EIA) for PSJ's San Jorge copper project, also known as Cobre Mendocino. With this approval, the project moves into the feasibility stage, which the company estimates will take about a year.

The project, located in Uspallata, in the Mendoza province, has undergone more than 13 years of studies and analysis to obtain approval. The San Jorge copper mine will entail investments of US$560 million and a construction timeline of 18 to 24 months to achieve a total capacity of 40,000 tons of copper per year.

"This institutional decision allows us to take another step in a process that has been long, transparent, and deeply participatory. Now begins a phase of technical feasibility work, where we will continue building the project together with the community, institutions, and productive stakeholders. Our commitment is to move forward responsibly, through ongoing dialogue, and with the conviction that development must be shared by all," said Fabian Gregorio, chief executive officer of PSJ.

In an interview with local newspaper Mendoza Minera, Gregorio also highlighted that PSJ could submit the San Jorge project to the Incentive Regime for Large Investments (RIGI), which grants fiscal and legal benefits to mining projects with investments over US$200 million.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read the related project report.

Under the right-wing president, Javier Milei, who has implemented the RIGI, several companies have expressed interest in proceeding with mining projects to boost exports.

Argentina's Copper Prospects

San Jorge is only the latest announcement in Argentina's dynamic copper scene. IIR is tracking 57 copper-related projects worth US$29.7 billion across the country. Companies such as Glencore (Baar, Switzerland), Lundin (Vancouver, British Columbia), and McEwen (Toronto, Ontario) have been clear about their interests in developing their copper projects in the South American nation.

Currently, Argentina does not have a large-scale copper mine in operation. However, among the most advanced projects in Argentina that could begin production in the next years are Lundin's Josemaria project, Glencore's El Pachon and MARA mines, and First Quantum's Taca Taca mine.

According to a 2025 document published by the mining secretary on the copper sector, Argentina could receive about US$3 billion in copper exports starting in 2029, with a projected peak of US$11.7 billion by 2033. Copper exports could account for 33.1% of all Argentine mining exports from 2023 to 2035.

The report projects US$5 billion in copper investments by 2026, reaching a maximum of US$6 billion by 2028.

In its 2023 Coyontura report, the mining secretariat forecasted that the eight most advanced copper projects could reach an annual production of 1.2 million tons of copper, requiring investments of US$22.2 billion.

Key Takeaways

• The environmental impact assessment for the San Jorge copper project has been approved.
• The mine could produce 40,000 tons of copper per year and require US$560 million in investments.
• Argentina could reach 1.2 million in annual copper output across eight projects.

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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).