Copper Mining Projects Continue to Gain Traction in Argentina

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

First Quantum expects to invest US$5.25 billion to develop the Taca Taca mine in Argentina, which is set to produce 291,000 tonnes of copper per year in its first decade. The company is working to submit the project to RIGI, as several other mining projects have done.

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First Quantum expects to produce 291,000 tonnes of copper per year during the first decade of operation from its Taca Taca project in Argentina's Salta province. Throughout the mine's life, the company forecasts an annual output of 209,000 tonnes of copper.

Initial processing capacity is set at 40 million tonnes per year, rising to 60 million tonnes by year five.

Average gold production from copper mining is projected at 133,000 ounces per year for the first 10 years, dropping to 96,000 ounces per year during the full mine's life.

Initial project costs are US$4.23 billion, with the 20-metric-ton-per-annum (MTPA) processing expansion requiring an extra US$1.02 billion. Pre-stripping and construction would take 3.5 years, and the asset is expected to operate for 35 years.

First Quantum expects to complete the environmental and social impact assessment for Taca Taca in the first half of 2026.

"Taca Taca is one of the world's premier undeveloped copper assets, and the updated technical study reaffirms the substantial value and potential of the project as a major, long-life copper mine with meaningful gold production, that is competitively positioned on the global cost curve," said Tristan Pascall, chief executive officer of First Quantum.

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

RIGI at the Center of Argentina's Copper Projects

First Quantum plans to submit the Taca Taca project for Argentina's Incentive Regime for Large Investments (RIGI) before the new extended deadline set for July 2027. The RIGI allows companies making investments of US$200 million or more in mining projects to access financial incentives, such as access to foreign exchange, specific tax and customs regimes, and legal certainty over the project's duration.

Among the mining projects already approved to enter the RIGI are McEwen's Los Azules copper project and Rio Tinto's Rincon lithium development.

Other projects with submitted applications under evaluation include Glencore's Pachon and Agua Rica copper developments, Lundin's Vicuna copper project, and the lithium projects Sal de Oro and Sal de Vida.

By the end of 2025, a total of 10 projects had been approved for entry into the RIGI, while over 27 applications were submitted, according to Infobae.

Argentina's Copper Prospects

The South American country could soon become the newest copper nation as multiple companies move forward with their projects. Industrial Info is tracking 48 copper mining projects in Argentina worth US$23.56 billion. From those, Industrial Info has identified six projects with a high probability of execution.

Argentina stopped producing copper in 2018, with the closure of the Alumbrera mine, now owned by Glencore and part of the MARA project. However, the country could soon produce over 1 million tons of copper as several projects develop.

"Argentina is emerging as a competitive mining jurisdiction, supported by recent economic reforms aimed at attracting sustainable and long-term foreign direct investment," added Pascall in a statement.

Key Takeaways

• Taca Taca aims to reach 291,000 tonnes of annual copper production in its first decade.
• The project's capital development costs have been set at US5.25 billion.
• First Quantum plans to submit a RIGI application for Taca Taca.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
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 250,000 current and future projects worth $30.2 Trillion (USD).

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