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Argentina hits JACKPOT: In a significant discovery amid the global rise in the prices of copper, gold and silver, massive deposits of the critical minerals have been found in Argentina’s San Juan province, near the Chilean border of South America. Hailed as the largest such discovery of copper, gold and silver on a global level in the last 30 years, the discovery is expected to change the future of South America. Here are all the details you need to know about the recent discovery.
The recent discovery has been made by a joint venture between Lundin Mining and BHP on a site believed to have over 12 million tonnes of copper and nearly 80 million ounces of gold and silver worth billions of dollars.
“The initial Mineral Resource has highlighted the potential for one of the highest grade undeveloped open pit copper projects in the world and one of the largest gold and silver resources globally. This may affect the future of South America’s mining sector,” said Jack Lundin, CEO of Lundin Mining, in a quote carried by Indian Defence Review.
“We are in an excellent position to continue advancing the development of a mining district with great potential,” Dave Dicaire, the general manager of the Vicuña project was quoted by media reports.
The discovery of the crucial metals is expected to help the economy of Argentina in a significant manner. While copper can be used in wiring, electronics, machinery, and clean energy technologies, Gold and silver find their values in jewelry, medical devices, and chip manufacturing. The discovery is expected to help the economy of Argentina by leaps and bounds as it will help Argentina position itself as the vital agent of global supply chains for sustainable technologies.
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