COPPER: Taca Taca at a decisive stage

Taca Taca consolidates its position as one of Argentina’s largest copper projects

The Taca Taca project, located in the Puna region of Salta province, is advancing toward a key phase of its development, reaffirming its position as one of the most significant copper ventures in Argentina and the region. In a global context shaped by the energy transition and steadily rising demand for critical minerals, the development led by First Quantum Minerals combines scale, a long-term horizon, and strong territorial integration.

A recently updated technical report under NI 43-101 international standards, effective as of December 2025, confirms the project’s geological, technical, and economic robustness. According to the report, Taca Taca hosts measured and indicated resources exceeding 2 billion tonnes, along with proven and probable reserves supporting at least 35 years of operation at a processing rate of 60 million tonnes per annum, with an initial development phase of 40 Mtpa. This phased strategy enables optimized capital allocation, risk management, and flexibility to adapt to key operational variables such as water and energy availability.

From a production standpoint, the project is shaping up as a world-class copper operation, with gold and molybdenum as by-products. During the first decade, average annual copper production is estimated at approximately 291,000 tonnes, accompanied by around 125,000 ounces of gold and 3,500 tonnes of molybdenum. Over its life of mine, the deposit could yield more than 7 million tonnes of contained copper, with metallurgical recoveries aligned with top industry standards.

The project’s scale is also reflected in its investment level. Initial CAPEX for the 40 Mtpa stage is estimated at approximately USD 4.232 billion, with an additional USD 1.019 billion for expansion to 60 Mtpa. Altogether, total investment exceeds USD 5.25 billion, making Taca Taca the largest mining investment ever projected in Salta.

Infrastructure is a key strategic pillar. On the energy side, plans include the construction of a new 345 kV transmission line extending over 120 kilometers to connect the project to the national grid and enable future integration of renewable energy sources. For concentrate logistics, the design contemplates the use of existing rail infrastructure, including a new branch line and the reactivation of the C14 corridor, allowing production to be transported to the ports of Mejillones in Chile, revitalizing a strategic railway axis for the region.

Environmental and social components also play a central role. The Environmental and Social Impact Assessment is currently under review by provincial authorities, following a lengthy process that included technical evaluations, stakeholder workshops, and site visits. The project incorporates international standards for tailings management, responsible water use, ecosystem monitoring, and a progressive closure plan. From a social perspective, it promotes early engagement focused on local development, workforce training, and strengthening regional suppliers.

With the potential to generate up to 4,000 jobs during construction and around 2,000 permanent positions during operations, Taca Taca is poised to become a long-term driver of economic development. Its combination of technical progress, economic strength, and territorial integration positions the project as a key pillar in Argentina’s efforts to secure a place in the global copper and strategic minerals market in the decades ahead.