Lundin Mining Makes Huge
Investment in Josemarķa
Lundin Mining announced a $4.1 billion
investment to start up the Josemarķa project
north of San Juan, Argentina. The orebody
contains copper, gold and silver, and
is scheduled to start producing in 2026.
Josemarķa will generate exports of $7 billion
According to Lundin, this investment
will be divided into three phases: $3.1
billion until 2025, when the construction
of the project will be completed, a second
of $900 million for subsequent years,
and a third of $200 million upon closing.
Josemarķa will be an open-pit mine at an
altitude of 4,295 meters above sea level, in
the Iglesia department, in the north of San
Juan, in the middle of the Andes mountain
range. Based on the forecasts, the exploitation
will feed a conventional process
plant, with a production of 136,000 tons
of copper, 231,000 ounces (oz) of gold and
1,164,000 oz of silver per year.
Lundin has calculated a life span of
19 years for this new project, which will
be called Josemaria Resources.
As featured in Womp 2021 Vol 12 - www.womp-int.com