The Lundin mining group will invest 4.2 billion dollars in Argentina

The Toronto-based Lundin mining group will invest a total of $4.2 billion dollars for the development of a copper, gold and silver project in the Argentine province of San Juan (west of the country), through the “Josemaría project” - according to official sources reported this Thursday.

According to an official statement, this investment will be divided into three phases: with the first tranche of $3.1 billion dollars until 2025, during construction of the project.

This initiative will operate from 2026 and is expected to last 19 years - during which time net exports worth $1.7 billion will be generated annually, according to official estimates.

The investment was announced after a meeting between Argentine President Alberto Fernández, and Josemaría CEO Adam Lundin - a meeting at the Casa Rosada also attended by Economy Minister Martín Guzmán and the Minister of Productive Development, Matías Kulfas.

“Argentina has enormous potential. We are very excited about this project because copper is needed to be able to electrify the entire planet and Josemaría has the potential to be one of the great green projects,” Adam Lundin said.

At: https://marketresearchtelecast.com/the-lundin-mining-group-will-invest-4-2-billion-dollars-in-argentina/200495/

Adam, Lukas, Harry and Jack Lundin in San Juan Province, Argentina.

Canada's Lundin mining group announced a record $4.2 billion, 19-year investment in the country's mining sector - which has grown to over $4 billion in exports this year.

"Copper is central to the coming green revolution," Production Minister Matías Kulfas added.

"Electric vehicles use 5 or 6 times more copper than conventional vehicles, so this is a very important investment for Argentina."