In a major mineral discovery across the Andes Mountains, there is something exciting cropping up that may permanently alter the trajectory of mining when it comes to South America. Geologists have gone on to identify the largest deposit of copper, gold and silver ever in the past 30 years, which is located along the San Juan province in Argentina and the Atacama region across Chile.
The site, which is known as the Vicuña mineral resource, is getting developed by Lundin Mining as well as BHP. It happens to contain almost 13 million tons of copper, 659 million ounces of silver, and 32 million ounces of gold. These staggering figures position it as the largest deposit of copper, gold and silver in the world.
It is well to be noted that the deposit comprises two major sections – FILO Del Sol, which happens to hold over 600 million tons at 1.14% copper equivalent, and Josemaria, with almost 200 million tons at around .73% copper equivalent. The industry experts believe that the area could as well become a top global mining district, having decades of output potential.
According to the CEO of Lundin Mining, Jack Lundin, they indeed see the potential for Vicuña to be not just a prominent copper producer but also one of the largest gold and silver mines in the world.
Economic growth along with strategic positioning for Argentina
The discovery is anticipated to boost the economy of Argentina by way of expanded trade, job creation, and also development in infrastructure. With copper playing a major role when it comes to green energy technologies along with electric vehicles, Argentina could as well emerge as a superpower when it comes to being major suppliers across the global markets.
It is well to be noted that the local communities in San Juan province have already expressed their optimism when it comes to the potential advantages, which include enhancement in education, healthcare, and also transportation. There are regional authorities that hope that the mining activity is going to attract new investments and also give a boost to long-term economic development when it comes to underserved areas.
Interestingly, the demand when it comes to copper remains robust because of its extensive usage within renewable energy systems along with electrification. The strategic significance of copper, silver, and gold reinforces the growing relevance of Argentina across international mineral supply chains.
Consideration based on the environmental and regional elements
While the project happens to offer prominent economic promise, it also brings with it certain environmental as well as social challenges. The Andes Mountains happen to host a very fragile ecosystem, which could very well get affected due to the mining activity. Environmental organizations have already urged stringent tracking as well as mitigation so as to preserve biodiversity.
In addition to this, indigenous groups within the region have also voiced out their concerns when it comes to the possible impact on cultural heritage along with land rights. It is worth noting that the Argentine law mandates consultation with local populations before coming up with large-scale resource extraction. The project stakeholders are anticipated to go ahead and prioritize compliance along with transparency as this development marches forward.
In response to this, Lundin Mining, along with BHP, has already gone on to pledge to execute advanced environmental practices, which include wastewater treatment and also real-time environmental tracking so as to minimize any sort of ecological disruption.
Interestingly, this project is also likely to encourage cooperation throughout the broader Andean mining corridor, which includes neighboring countries such as Peru and Chile. Experts go on to suggest that it may as well result in growing knowledge sharing along with labor mobility throughout the region.
The fact is that the substantial gold and silver reserves highlight the broader importance of the deposit. Gold happens to remain essential when it comes to electronics as well as aerospace applications. While silver, on the other hand, is used across solar energy along with industrial manufacturing.