Vicuña Corp, a partnership between Australia’s BHP and Canada’s Lundin Mining, announced on Thursday an extension of the operational life of its Josemaria copper, gold, and silver project in Argentina. The mine’s lifespan is now projected at 25 years, up from 19 years, due to increased exploitable resources.

A small toy figure and mineral imitation are seen in front of the BHP logo in this illustration taken November 19, 2021.

Located in San Juan province near Chile’s border, the Josemaria site is expected to process 175,000 metric tons of ore daily. This aligns with Argentina’s efforts to develop mining in its north-western provinces to support economic growth through foreign currency inflows.

In a recent update to provincial authorities, Vicuña submitted a revised environmental impact report, addressing water management and other studies. The project, currently in pre-construction, is set to begin production in 2030, with a technical report due in early 2026 to finalize timelines.

The announcement may bolster Vicuña’s bid to join Argentina’s Large Investment Incentives Regime (RIGI), aimed at attracting investment. Earlier estimates indicated that Josemaria and Vicuña’s Filo del Sol deposits hold 13 million metric tons of measured copper and 25 million tons of inferred copper.

Though Argentina has not produced copper since 2018, upcoming projects could elevate it to a top 10 global copper producer.