Argentine province eyes copper boom with up to $20 billion in exports by 2035

By Lucila Sigal

BUENOS AIRES, March 18 (Reuters) - Argentina's San Juan mining province aims to become a major copper exporter by 2035, the province's production minister told Reuters, projecting that the province's annual copper exports could reach a value of between $15 billion and $20 billion by that year.

Situated in the Andes Mountains near Argentina's border with Chile, San Juan does not currently produce copper, but is home to four significant copper projects: Vicuña (a joint venture between BHP BHP.AX and Lundin Mining LUN.TO), Los Azules (McEwen Copper MUX.TO), El Pachón (Glencore GLEN.L), and Altar (Aldebaran Resources ALDE.V).

Vicuña and Los Azules have received environmental approval and are expected to begin production around 2030.

Gustavo Gonzalez, San Juan's production minister, said the province accounts for 80% of Argentina's potential copper supply over the next decade, representing $32 billion in investments across these four projects.

He added the province aims to produce 1.2 million tons of copper annually by 2035, leading to the projected export figures.

"In terms of exports, we are talking about between $15 billion and $20 billion (annually)," Gonzalez said, speaking to Reuters at the IEFA Latam Forum in Buenos Aires on Tuesday.

Argentina has not produced copper since 2018, but it boasts a number of world-class projects. In 2025, the country's total mining exports reached $6.04 billion, driven by rising gold prices and new lithium projects.

Vicuña alone plans to invest $18 billion in its copper, gold, and silver ventures, the miner said in February. This is expected to yield approximately 395,000 tons of copper, 711,000 ounces of gold, and 22.2 million ounces of silver annually for the first 25 years.

Gonzalez said San Juan's total exports were about $2.2 billion, with mining contributing $1.7 billion, primarily from gold and lime. He also highlighted the potential impact on employment, suggesting the four copper projects could nearly double the province's formal workforce in 10 years, adding 70,000 jobs to the current 84,000.

However, challenges remain, particularly concerning infrastructure such as road and energy networks, which the mining projects are addressing. The provincial government will be responsible for housing needs, Gonzalez said.