Argentina Looks to Global Copper Needs to Boost Mining

---

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

---

Summary

Argentina's copper projects could lift output to 1.5 million tonnes by 2035, supplying 15% of the global deficit and making the country a top five copper producer. RIGI continues to attract investments as copper prices remain high.

---

Unearthing Potential

Michael Meding, the managing director of McEwen Copper, discussed Argentina's growing role in the international copper sector, its significant deposits, and its prospects in an interview with La Nacion.

Meding said that the copper supply deficit by 2040 could reach as much as 10 million tonnes per year, driven by the strong demand from key sectors such as electric vehicles (EVs) and data centers.

More importantly, he forecasted Argentina could address up to 15% of the global supply deficit by 2040 through its top five projects: Taca Taca, Los Azules, El Pachon, MARA and Vicuna.

Together, these projects could produce 1.5 million tonnes of copper per year by 2035, with potential for future expansions. With that capacity, Argentina could rank among the world's top five copper producers.

According to Industrial Info Resources data, these five developments account for more than US$32 billion worth of active and proposed projects. Industrial Info Resources offers more information in its Global Market Intelligence (GMI) Metals & Minerals Project Database, where readers can find details--including construction schedules, investment values and necessary equipment--in a list of project reports.

"Vicuña, El Pachon and Los Azules rank among the world's 10 largest copper projects by size," Meding said.

Attracting Investments

Meding also praised Argentina's Large Investment Incentive Regime (RIGI), a fiscal and legal scheme aimed at attracting infrastructure and export-oriented projects worth at least US$200 million by offering tax, customs and foreign exchange incentives for 30 years.

Several mining companies have had their projects approved under the RIGI, including McEwen's Los Azules copper project, Rio Tinto's Rincon lithium project, the San Jorge copper project, and Vicuña. Additional projects remain under evaluation.

With the RIGI, the Argentine government expects to attract billions in investment, generate thousands of jobs, and develop export-oriented industries.

Industrial Info Resources is tracking more than US$72 billion worth of mining-related projects in Argentina. Of those, more than US$38 billion worth are copper-focused. Readers can consult a full list of project reports.

Copper prices have remained elevated in 2026, moving above US$6 per pound in recent months, supported by a tight supply; strong demand linked to electrification and data centers; uncertainties surrounding U.S. tariffs; and operational disruptions at major mines.

Elevated prices and macroeconomic conditions are encouraging investments in new copper supply, although the development pipeline remains constrained by timelines. Countries like Argentina, Peru and Chile are likely to benefit from the new investment rush.

McEwen Los Azules

Canadian mining company McEwen owns the Los Azules project in Argentina's San Juan province. Los Azules is one of the most advanced projects in Argentina, with forecast copper cathode production averaging about 205,000 tonnes per year during its first five years and 148,200 tonnes per year over its 21-year base-case mine life. McEwen expects to invest about US$2.67 billion in the project, with construction beginning in 2027 and first production forecasted for 2030. Readers can learn more details about projects associated with Loz Azules from a list of project reports.

Meding projected that Los Azules could generate between US$2.6 billion and $2.8 billion in exports per year, based on current market conditions.

Key Takeaways

• Argentina could supply 15% of the projected global copper deficit by 2040.
• Argentina could become one of the world's top five largest copper producers with its current pipeline.
• The RIGI continues to attract investment in Argentina.

---

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).