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A historic discovery in the heart of the Andes Mountains promises to transform Argentina’s economy and position the country as a new global player in the mining sector. It is the largest deposit of gold, copper and silver in the last 30 years.
Argentina, traditionally recognized for its strength in agribusiness, has just entered the global mining radar with force. The mining company Vicuña, formed by the union between the Australian BHP and the Swedish-Canadian Lundin Mining, announced the discovery of the largest deposit of gold, copper and silver in the last 30 years, located in the province of San Juan, in the western region of the country.
The projects, named Philo del Sol e Jose Maria, extend to the Chilean region of Atacama and encompass an area of extremely high strategic value for mineral exploration. According to Vicuña, the new deposit represents one of the largest mineral reserves in the world, both in volume and economic potential. See also – Gold galore! New gold deposit discovered could be the largest in the world, with 330 tons hidden deep in the Earth's layers
Mineral resources revealed: the dimensions of the megadeposit
The numbers impress even the most seasoned industry experts:
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- Copper:
- Confirmed (measured): 12,8 million tons
- Estimated (inferred): 25,1 million tons
- Gold:
- Confirmed: 32,2 million ounces
- Estimate: 48,7 million ounces
- Prata:
- Confirmed: 659 million ounces
- Estimate: 808 million ounces
Adding up the data, the discovery represents more than 80 million ounces of gold and silver e tens of millions of tons of copper. With these dimensions, the project becomes one of the largest in the modern history of mining.
San Juan: from expectation to global prominence
The province of San Juan, where the deposit is located, was already recognized for its mineral potential. However, this new discovery completely changes the scenario. According to Jack Lundin, CEO of Lundin Mining, Filo del Sol is one of the most significant discoveries of the last three decades.
The project not only strengthens Argentina's role in the sector, but also transforms the province into the epicenter of a new era of Latin American mining, competing directly with giants such as Chile, Peru and Canada.
Economic impact: Argentina targets global top 10 in copper production
According to the newspaper Clarín, Argentina expects that, with the advancement of operations, the country will join the list of the 10 largest copper producers in the world by the end of the next decade. To give you an idea of the potential, Chile, the current largest producer, exported around US$50 billion in copper in 2023 — the equivalent of the entire Argentine agro-industrial sector.
The discovery of the largest deposit of gold, copper and silver in the last 30 years could represent a structural leap in Argentina's trade balance, generating thousands of jobs, increased tax revenue and economic diversification at a crucial time for the country.
What does Vicuña say about the future of the project?
In an official statement, Vicuña’s general manager, Dave Dicaire, said that the new discovery substantially expands the company’s resource base and strengthens its strategic position in the Andean region. “We are in an excellent position to continue advancing the development of a mining district with great potential,” he said.
The next step will be the completion of a integrated technical report, planned for the first quarter of 2026, which will detail the exploration plan, implementation schedule and medium and long-term economic projections.
Vicuña also highlighted that its commitment is to generate sustainable long-term shareholder value, respecting local communities and the environment.
Geopolitical dispute and strategic resources in the Cordillera
The announcement rekindles the international community's attention to the strategic reserves of the Andes Mountains, a region rich in minerals used in the technology, energy and construction industries. Copper, gold and silver are critical inputs for sectors such as:
- Green energy (solar panels, wind turbines, batteries)
- Cutting edge technology (microchips, semiconductors, circuits)
- Jewelry, automotive and electronics industries
Experts believe that the discovery could lead to a geopolitical repositioning of Argentina, opening doors for international investments, bilateral agreements and greater participation in global natural resource supply chains.
Comparisons with other historical discoveries
The new deposit discovered in San Juan can be compared to some of the largest metals discoveries on the planet. In terms of combined volume of gold, copper and silver, it surpasses several known deposits in Latin America and approaches the large reserves found in Congo, Russia and parts of Australia.
The discovery is even more significant because it occurs at a time of growing global demand for strategic metals, especially copper, essential for the energy transition and the electrification of the global economy.
Largest deposit of gold, copper and silver – sustainability and socio-environmental challenges
While the economic potential is undeniable, the project also raises discussions about environmental and social impacts. The Andes region is home to indigenous communities, sensitive ecosystems and nature reserves that must be carefully preserved.
According to Vicuña, the project will continue international environmental protocols, in addition to maintaining ongoing dialogue with local communities and Argentine authorities. The company states that it will “develop a modern, clean and inclusive mining model, based on scientific evidence and active listening to society.”
Gold deposit found in Argentina could change regional balance
The discovery of the gold deposit found in Argentina not only impacts the country, but also alters the regional balance of mining in South America. Chile, which shares part of the deposit in the Atacama region, could benefit from integrated operations or future bilateral partnerships.
Furthermore, Bolivia and Peru, other countries rich in natural resources, are closely monitoring developments and possible movements by investors, governments and mining companies.
Expectations with the discovery of the largest deposit of gold, copper and silver
Argentina's mining sector could gain new momentum with:
- Incentives for the export of strategic metals
- Increase in foreign direct investment
- Modernization of logistics infrastructure
- Creation of mineral technology and foundry hubs
The expectation is that the exploration of the largest deposit of gold, copper and silver will also encourage regulatory and environmental reforms, making Argentina more attractive to investors and safer for local communities.
The discovery of the largest gold, copper and silver deposit in 30 years in Argentina is a milestone not only for the mining sector, but for the country’s recent history. Amid economic challenges and the search for new sources of growth, this discovery offers a strategic opportunity for structural transformation.
With 80 million ounces of gold and silver and more than 12 million tons of copper confirmed, Argentina enters the map of the world's great mineral powers — and raises global alerts about the geological value of the Andes Mountains.
What comes next will depend on the ability of government, business and civil society to balance economic development with social and environmental responsibility.But one thing is certain: San Juan will never be the same again.
