Written by Ian Cardenas, Lawyer
The mining world is paying close attention after Lundin Mining Corporation, in partnership with global mining leader BHP, announced a major discovery in the Vicuña District, on the Argentina–Chile border: the Filo del Sol project.
This copper, gold, and silver deposit in the Andes is quickly emerging as one of the most strategic mineral resources of the 21st century. Backed by two of the industry’s biggest players, Filo del Sol is shaping up to be a key asset in the future of global mineral supply.
According to the latest estimates, this deposit ranks among the world’s ten largest copper resources, making it one of the most significant greenfield discoveries in over three decades.
A Landmark Discovery in Argentina
Jack Lundin, President and CEO of Lundin Mining, described Filo del Sol as “one of the most significant discoveries of the last 30 years,” emphasising its potential as an open-pit copper project with high-grade mineralization. The resource estimate confirms 13 million tonnes of measured and indicated copper, with an additional 25 million tonnes inferred. In addition, the deposit contains an extraordinary 32 million ounces of measured gold, 659 million ounces of measured silver, and even larger inferred resources.
The discovery comes as a result of years of exploration efforts by Lundin and BHP, culminating in the formation of Vicuña Corp., a 50/50 joint venture that also includes the Josemaría project, located just east of Filo del Sol. Together, these projects form the Vicuña District, a mineral-rich zone that may soon become a world-class mining complex.
Strategic Advantages and Investment Climate
Beyond the geological magnitude, the proximity of Filo del Sol and Josemaría offers compelling operational synergies: shared infrastructure, water access, transport routes, and scalability for phased expansions. This integrated approach supports the long-term vision of developing a flagship mining district in South America.
Argentina’s newly implemented Large Investment Incentive Regime (RIGI) has played a crucial role in unlocking the project’s development. With tax breaks, customs benefits, and guaranteed currency convertibility for 30 years, the RIGI framework has made Argentina a more attractive and stable destination for large-scale mining investment. In contrast, Chile, despite being the world’s top copper producer, is facing a slowdown in new greenfield project approvals, focusing more on brownfield extensions and optimisations.
Looking Ahead: A New Benchmark for the Region
With initial construction of the Josemaría project expected to begin by 2026 and requiring over US$5 billion in investment, Vicuña is poised to reshape the mining landscape not only in Argentina but across South America. Industry analysts and global investors are already paying close attention, as this discovery sets a new standard for mineral resource development in the region.
Filo del Sol and the Vicuña District are ready to become a world-class mining operation. This is not just a discovery, it’s the foundation of a long-term vision to generate economic value, employment, and technological advancement for Argentina and beyond.” – Jack Lundin
As global demand for copper surges, driven by the energy transition and the electrification of industries, Filo del Sol may soon prove to be one of the most strategically important mineral assets of the modern era.
Opportunities for Investors
The scale and momentum of the Filo del Sol project offer a wealth of opportunities for companies across the mining supply chain. With projected multi-billion-dollar investment and long-term development plans, firms involved in engineering, construction, equipment supply, environmental services, logistics, and workforce training are well-positioned to play a role in the buildout of the Vicuña District. The integrated development approach and infrastructure synergies between Filo del Sol and Josemaría create a unique ecosystem for contractors and service providers. In particular, companies with cross-border capabilities, technological innovations, and sustainability credentials will be in high demand as the joint venture seeks partners to deliver on its ambitious vision. With Argentina’s new RIGI regime reducing entry barriers, now is the time for suppliers and investors to engage and explore how they can support and benefit from one of the world’s most exciting mining developments.
Conclusion
Filo del Sol is a significant mining project, but also a turning point for the region’s resource development trajectory. Backed by industry giants Lundin and BHP, and supported by favourable policy reforms in Argentina, the project signals a renewed era of large-scale mining in South America. As global markets increasingly look to secure critical minerals for the energy transition, the Vicuña District stands out as a strategic hub for long-term investment, innovation, and collaboration. For companies, investors, and governments alike, this discovery offers a rare opportunity to be part of a generational project that promises to reshape the copper frontier and deliver lasting economic impact across borders.
Harris Gomez Group METS Lawyers ® opened its doors in 1997 as an Australian legal and commercial firm. In 2001, we expanded our practice to the international market with the establishment of our office in Santiago, Chile. This international expansion meant that as an English speaking law firm we could provide an essential bridge for Australian companies with interests and activities in Latin America, and to provide legal advice in Chile, Peru and the rest of Latin America. In opening this office, HGG became the first Australian law firm with an office in Latin America.
As Legal and Commercial Advisors, we partner with innovative businesses in resources, technology and sustainability by providing strategy, legal and corporate services. Our goal is to see innovative businesses establish and thrive in Latin America and Australia. We are proud members of Austmine and the Australia Latin American Business Council.
Disclaimer: This article is for general informational purposes only and does not constitute legal advice. It does not create a solicitor-client relationship, and readers should seek independent legal advice for their specific circumstances. Harris Gomez Group accepts no liability for reliance on this content.