Copper Majors Are Taking Another Look at Argentina, McEwen Says – by James Attwood (Bloomberg News – January 20, 2022)

(Bloomberg) — Vast deposits and more welcoming policies have turned Argentina into a lithium hot-spot in recent years. Now the global copper industry is taking another look at the South American nation.

That’s the view of Rob McEwen, whose namesake company is drilling a property in San Juan province near the border with Chile. Called Los Azules, it’s attracted the attention of large producers such as Vale SA, Anglo American Plc and Barrick Gold Corp. as a potential acquisition, he said. All three companies declined to comment.

While McEwen is looking to advance the project further before considering a sale, the interest from majors is a sign of copper’s auspicious outlook as a key building block in the clean-energy transition, as well as Argentina’s growing appeal as a mining jurisdiction, he said in an interview Wednesday.

Argentina, where interventionist policies have held back the industry, is becoming a more attractive setting for foreign investors, at least in some of its mineral-rich provinces.

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