The Vicuña JV controls Filo del Sol deposit on the Argentina-Chile border and the Josemaría project in San Juan, Argentina.
Since the acquisition, Vicuña has been carrying out tests and pre-construction activities at the Josemaría project. The company plans to seek the necessary approvals and begin production by 2030. Additionally, the mine's expected operational life has been extended from 19 to 25 years due to higher-than-expected resources. The ore processing capacity is set at 175,000 tonnes per day, a key factor in the project’s projected growth.
The investment already positions Vicuña as one of Argentina’s largest foreign investors for 2025, although the final development costs are still being assessed, according to the company’s senior country manager for Argentina and Chile in an interview with Bloomberg News. Vicuña is also preparing to apply for tax, customs, and currency exchange benefits under Argentina's large investment incentives program, known as RIGI. Vicuña's senior official emphasized the importance of RIGI, stating: “RIGI is critical. It levels the playing field and allows for the project to be competitive in tax terms when compared to other jurisdictions in Latin America and across the world.”
In terms of leadership, Vicuña appointed mining veteran Ron Hochstein as CEO, effective November 7. Hochstein, who brings over 30 years of experience, most recently served as Chair and CEO of Lundin Gold. The company expects to submit a technical report by March 2026, outlining production forecasts, timelines, and processing methods for the project.
Argentina has not produced copper since 2018, but the growing pipeline of copper projects, including Vicuña’s, could potentially place the country among the world’s top 10 copper producers in the near future.
