First Quantum Minerals Announced Major Investment in Argentine Copper Project

SEATTLE (Scrap Monster): Canadian mining major First Quantum Minerals announced that it will invest $3.5 billion in Taca Taca copper project in Argentina. The announcement was made during the recently held Argentina Mining 2024 international mining sector event, following a meeting between the company representatives and Argentine government authorities.

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John Dean, General Manager of First Quantum Minerals, states that the construction is anticipated to start early in the next year. He continued by saying that the project is anticipated to create a significant number of direct and indirect jobs, which would further the socioeconomic development of the province of Salta.

According to reports, the Argentine Geological and Mining Service has an agreement with the provincial government that states it will give scientific and technical support for the assessment of the project's environmental and social impact studies. Furthermore, it has promised to take part in tasks like supervision and tracking.

Taca Taca, which is at an advanced exploration stage, is a copper-gold-molybdenum porphyry deposit. It was acquired by the Canadian miner from Lumina Copper Corporation in 2014 through its subsidiary, Corriente Argentina SA (CASA).