BHP (ASX, NYSE: BHP) and Lundin Mining’s (TSX: LUN) joint venture in Argentina is investing more than $400 million near the Chilean border, aiming to develop a multibillion-dollar copper project that could become the country’s next major production hub.
The venture, Vicuña Corp, was created in January after the partners acquired Filo Corp. It controls both the Filo del Sol deposit straddling the Argentina-Chile border and the Josemaría deposit in Argentina’s San Juan province.
Since the acquisition, Vicuña has carried out tests and pre-construction work at Josemaría, with plans to seek approvals and begin production in 2030. The company also extended the mine’s useful life from 19 to 25 years after confirming higher-than-expected resources and set ore processing capacity at 175,000 tonnes per day.
The budget already places Vicuña among Argentina’s largest foreign investors this…
