Argentina will resume copper production with a US$4 billion investment

RIO DE JANEIRO, BRAZIL – The Undersecretary of Mining, Andrés Vera, highlighted that the country “will produce copper again” from an investment of “more than US$4 billion” in the province of San Juan to exploit the Josemaría project.

“Argentina is going to produce copper again. The start-up of Josemaría will contribute, only in investment, more than US$4 billion to the Argentine economy. This means more jobs and more stability for everyone”, said Vera through his account on the social network Twitter.

Likewise, the Secretary of Tax Policy, Roberto Arias, considered the approval by the government of San Juan of the Environmental Impact Statement for the beginning of the exploitation stage of the Josemaría mine as “extraordinary news”.

“The exploitation of a new mining project with a huge potential begins. It will generate quality private employment, bring much needed foreign currency to the country and resources to the provincial and national treasury”, Arias emphasized.

On the other hand, the Governor of San Juan, Sergio Uñac, underlined that “this important mining project will generate more than 4,000 jobs during the construction stage, being one of the largest investments in the country”.

On Monday, the government of San Juan approved the Environmental Impact Statement for the start of the mine’s exploitation stage.

Josemaría is a copper and gold mining project located in the department of Iglesia, 410 kilometers from the city of San Juan and 10 kilometers from the border with Chile.

The project, owned by the Canadian Lundin Group, has resources of 6.7 million pounds of copper, 7 million ounces of gold, 31 million ounces of silver, and an estimated useful life of the deposit of 19 years.

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