First Quantum Eyes Argentina Copper Project by Year-End

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

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Summary

First Quantum plans to submit a RIGI application for its Taca Taca project by the end of 2026. Taca Taca is expected to average 209,000 tonnes of copper annually over 35 years.

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Taca Taca Takes Off

Argentina's Minister of Foreign Affairs, Pablo Quirno, met with First Quantum Minerals Limited's Chief Executive Officer Tristan Pascall in Argentina to discuss the company's Taca Taca copper project in Salta Province.

Taca Taca is one of Argentina's largest copper projects, with estimated investments of US$4.1 billion and expected average annual production of 209,000 tonnes of copper over a 35-year mine life.

Industrial Info Resources offers more information on Taca Taca in its Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases, where readers can find details--including construction schedules, investment values and necessary equipment--in a plant profile and a list of project reports.

First Quantum is working on the feasibility of the mine and expects to receive environmental impact approval (EIA) in the first quarter of 2027. Construction of the mine could start in September 2027 and be completed in September 2029.

The project is expected to create up to 4,000 jobs during construction and about 2,000 during operations, based on the minister's announcement.

Beyond the mine, Taca Taca's plan also includes the development of related infrastructure such as electricity substations, power lines, water pipelines, and rail routes to connect the site to existing railway network connecting Salta to the Mejillones port in Chile.

According to Quirno, First Quantum is preparing to submit the project for approval under Argentina's Incentive Regime for Large Investments (RIGI) before year-end. The RIGI provides tax, foreign exchange, and customs benefits, along with long-term stability for projects in Argentina involving investments of at least US$200 million.

The regime has attracted significant interest from mining companies with copper projects, such as BHP and Lundin's Vincuna, McEwen Copper's Los Azules, and PSJ's Cobre Mendocino (Uspallata) already approved by the RIGI. Subscribers can consult detailed lists of project reports regarding Los Azules, PSJ Cobre and Vicuña.

Argentina has a substantial pipeline of large copper projects in different stages. Industrial Info Resources is tracking 53 copper-specific projects in Argentina, representing investments of US$38.15 billion. Subscribers can learn more from a detailed list of project reports.

According to Industrial Info Resources data, 52 of these projects, accounting for nearly all of the tracked investment, have projected completion dates by the end of 2035. Subscribers can consult a detailed list of project reports.

A study by the Argentine Mining Chamber (CAEM) suggests that Argentina could produce more than 1 million tonnes of copper annually, if six of its most advanced projects are developed. If these projects are completed, the South American nation could become one of the world's largest players in the copper market.

To reach that goal, part of Glencore's MARA project could be among the first copper projects to come online. The international miner is currently working on the restart of its Alumbrera mine, part of MARA, and could begin production in the second half of 2027. The restart of the Alumbrera mine is intended to support the subsequent development of the RIGI approved MARA project.

Strong copper demand, along with operational disruptions and geopolitical tensions, has lifted copper prices in 2026 to new records. Demand for the red metal is expected to remain strong in the next few years, driven by the transition to cleaner technologies and growing electrification.

Key Takeaways

• First Quantum expects to submit its Taca Taca project for RIGI approval by year-end.
• Taca Taca could represent investments of US$4.1 billion and have a capacity to produce 209,000 tonnes of copper per year.
• New copper projects could start coming online in Argentina in 2027.

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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 verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).