BHP’s Vicuna unveils $25 billion mining investment
Miner Vicuna Corporation, controlled by Australia’s BHP and Canada’s Lundin Mining, has announced an US$18 billion ($25 billion) multi-year investment plan to develop copper, gold and silver mining projects in northern Argentina.
Vicuna said on Monday that the initial investment in the Josemaria and Filo del Sol projects in San Juan state will be US$7 billion ($A9.9 billion), with capital deployment planned from 2027 to 2030, when production will begin.
It is estimated that the project will produce an average of 395,000 tons of copper, 711,000 ounces of gold and 22.2 million ounces of silver annually in its first 25 years.
Production in the first decade is estimated to be approximately 2.5 million tonnes of copper, 5.5 million ounces of gold and 214 million ounces of silver.
The development of the Josemaria and Filo del Sol mining projects will be carried out in three phases.
The first phase will focus on the Josemaria deposit, while the last two will focus on Filo del Sol.
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