US$ 13 Mcopper exports in 2025: almost nothing
US$ 18,700 Mcould export in 2035, according to the Mining Secretariat
~395,000 t/yearof copper is what Vicuña plans to produce
The large projects
| Project | Provincia | Company | Estado (Oct-2026) |
|---|---|---|---|
| Vicuña (Josemaría + Filo del Sol) | San Juan | BHP and Lundin Mining | RIGI aprobado (Jul-2026): US$ 9,737 M iniciales |
| Los Azules | San Juan | McEwen Copper | RIGI aprobado: US$ 2,672 M |
| PSJ Cobre Mendocino (San Jorge) | Mendoza | — | RIGI aprobado: US$ 891 M |
| El Pachón | San Juan | Glencore | In development |
| MARA (Alumbrera + Agua Rica) | Catamarca | Glencore | In development, uses the Alumbrera infrastructure |
| Taca Taca | Salta | First Quantum | Under study |
Why now
- Price: copper averaged about US$ 13,600 per ton in June of 2026, 38% more than a year earlier, driven by electrification, grids and data centers.
- Stability: RIGI provides 30 years of fixed tax and exchange rules, key for projects of 5,000 to 10,000 million dollars that take a decade to pay back the investment.
- Challenges: power (500 kV lines), water, logistics to Pacific or Atlantic ports, the Glaciers Law and the social license.
What it means for a supplier
- A copper project of this scale is a multi-year construction effort with thousands of workers: high-altitude roads, camps, concentrator plants, slurry pipelines, power lines and ports.
- It is the biggest opportunity for the country's workshops, erection contractors and service companies over the next decade.
Fuentes
Updated as of October 9, 2026. Anything to correct or add? Write to us.