Antofagasta Minerals apuesta por el cobre argentino: Pachón en la mira

**Chilean Mining Giant Eyes San Juan Copper**

Copper Mining in the Region

Copper, abundant in Chile, is attracting interest in Argentina, particularly from the Chilean group Luksic, owner of Antofagasta Minerals. The company has expressed interest in investing in the Pachón project in San Juan province, which contains copper and molybdenum deposits and is considered one of the most important in the world. The project is currently owned by the Swiss mining company Glencore.

Antofagasta Minerals' Plans

Iván Arriagada, CEO of Antofagasta Minerals, stated that the company is observing the potential for attractive investment opportunities in Argentina, including the Pachón project. He highlighted the government's economic measures but emphasized the need for greater certainty and stability to support the development of the mining sector.

Global Ambitions

Antofagasta Minerals aims to become one of the world's top 10 copper producers, seeking investments in both Chile and Latin America. The company recently acquired a 19% stake in the Peruvian project Buenaventura, the largest Peruvian mining company by market capitalization and mining concessions.

Chilean Mining Operations

“The copper business is global, and while our operations are primarily in Chile, we aspire to develop and continue growing our business in the Americas, which we have defined as the area where we see the most attractive investment opportunities.” — Iván Arriagada, CEO of Antofagasta Minerals

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In Chile, the company plans to invest US$7.5 billion over the next three years in projects such as Nuevo Centinela and Los Pelambres Futuro, which will increase production from 700,000 to 900,000 tons. Antofagasta is also seeking to extend the lifespan of Los Pelambres, with an estimated permit approval in 2024 and an additional investment of US$1 billion.

Exploration and Future Projects

Antofagasta has two exploration projects in Chile for development after 2030: Cachorro, located in the coastal zone of the Atacama Desert, and Encierro, in the Andes Mountains in the Atacama region, which is part of a joint-venture with Canadian company Barrick Gold.

Copper Production in the Region

Chile leads copper production in the region with 5.2 million tons annually, followed by Peru with 2.2 million tons. Other countries with copper production include Brazil (324,000 tons), Colombia, and Bolivia. In Argentina, the main copper operation was Bajo la Alumbrera, which ceased production in 2018. Currently, there are six projects with potential construction dates in four provinces that could provide copper for the next 50 years: Josemaría, San Jorge, Taca Taca, Los Azules, Pachón, and Proyecto MARA.

Fuente: https://www.clarin.com/economia/mineria-gigante-chileno-mira-cobre-san-juan_0_1azKcQ6pDb.html

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