San Juan accelerates its “second mining revolution”
and positions itself as a strategic copper hub in the region
The province of San Juan is at a historic turning point. Driven by a new wave of investments, the development of major projects and a political strategy focused on sustained growth, the Cuyo region is establishing itself as Argentina’s leading mining hub and one of the most promising in Latin America.
The current landscape combines the maturity of traditional operations with the emergence of a new generation of copper projects that could redefine the province’s productive matrix.
In this context, initiatives such as Veladero —a historic gold and silver deposit operated by Barrick Gold and Shandong Gold— coexist with world-class developments such as Josemaría, which marks the province’s full entry into the copper era.
A new era driven by copper
The paradigm shift is clear: San Juan is moving from gold-centred mining to a diversified mining economy, with copper as the key player. Projects such as Los Azules, El Pachón, Altar and Filo del Sol are part of a portfolio which, taken together, exceeds an estimated US$17 billion in investments.
These initiatives are led by global giants such as Glencore, Lundin Mining, BHP and Río Tinto, placing the province firmly on the international radar.
Should these developments materialize, Argentina could regain a significant position in the global copper market, with potential exports from San Juan reaching US$15 billion annually.
Vicuña: the heart of mining investment
At the centre of this transformation lies the Vicuña district, considered one of the most significant copper discoveries of recent decades. Large-scale projects with a production outlook of over 70 years are converging there.
Governor Marcelo Orrego described this process as a ‘second mining revolution’, highlighting the early investments of US$900million, have already begun. He also emphasized the structural impact of the activity: employment, infrastructure and population settlement in historically neglected departments.
Key players and sector governance
Mining development in San Juan is driven not only by its geological wealth but also by institutional coordination. The Minister of Mining, Juan Pablo Perea, together with the San Juan Mining Chamber chaired by Iván Grgic, are leading the strategy to attract investment and strengthen the local value chain.
It is complemented by the involvement of business leaders such as Eduardo Elsz, who is committed to the sector’s growth through projects such as Hualilán, recently launched after 17 years without the opening of any new mines in the province.
Economic impact: figures pointing to a transformation
The economic potential is striking. It is estimated that the main projects could generate around US$290 billion in production over their lifetime, with a direct impact of US$37 billion on San Juan’s economy.
Beyond royalties (which stand at around 3%) the true multiplier effect is seen in employment, the development of local suppliers and infrastructure funded through mining trusts.
Drinking water projects, irrigation canals and roads in districts such as Jáchal demonstrate how mining is beginning to be translated into tangible improvements in quality of life.
RIGI and the investment climate
The Large Investment Incentive Scheme (RIGI) is establishing itself as a key tool. San Juan accounts for nearly 60% of the projects approved in the country, reinforcing its leadership as a reliable destination for international capital.
This positioning was also backed by the Fraser Institute ranking, which placed the province as the most attractive jurisdiction for mining investment in Latin America.
A historic opportunity
Mining in San Juan is no longer merely an extractive activity: it is emerging as a key driver of development. With a combination of resources, investment, technology and public policy, the province is on track to become one of the continent’s most important mining hubs.
The challenge, as the authorities point out, will be to transform this wealth into sustainable and equitable development.
But the starting point is clear: San Juan is at the heart of a historic opportunity.
