Canada's Lundin group sees Argentine gold and silver mine opening in 2026

Canada's Lundin group sees Argentine gold and silver mine opening in 2026

24/02 Canadian mining group Lundin plans to begin operating its Argentine silver-gold-copper project Josemaria in 2026, after an investment of $ 3.09 billion, a company spokesman told Reuters on Wednesday.

Argentina is pointed out by many experts as a country with great untapped mineral wealth, mainly along the Andes mountain range. If San Juan province approves an environmental study this year, as expected, construction of the mine will begin in 2022.

“In 2021 the approval of the environmental impact report is expected”, said Ivan Grgic, head of institutional relations for the Josemaría Project. “The approvals will allow the start in 2022. The projection is to operate the mine commercially from 2026,” Grgic added.

With an estimated useful life of 19 years, the site has 31 million ounces of silver, 7 million ounces of gold and 6.7 million pounds of copper.

San Juan Mining Minister Carlos Astudillo recently said he wants the approval to be handed down as soon as possible.

“Our commitment is that this request will be answered over the next few months,” Astudillo said. (Reporting by Hernan Nessi; writing by Hugh Bronstein; Editing by David Gregorio)

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