BHP-Lundin JV Minera Vicuna Announces $18B Copper, Gold, Silver Project in Argentina; Phase 1 Invests $7B

Published: Feb 25, 2026 16:00

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The first phase of investment, totaling $7 billion, is allocated to the Josemaria and Filo del Sol projects, with construction scheduled from 2027 to 2030. Upon full operation, the project is expected to produce an average annual output of 395,000 mt of copper, 711,000 ounces of gold, and 22.2 million ounces of silver over the first 25 years; cumulative production in the first decade is projected to reach 2.5 million mt of copper, 5.5 million ounces of gold, and 214 million ounces of silver. Development will proceed in three phases: the first phase focuses on the Josemaria deposit, while the second and third phases prioritize the Filo del Sol deposit.

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