Key facts
- First Quantum plans to apply for Argentina's large-investment incentive regime for its Taca Taca copper project.
- The investment could reach $5.25 billion.
- The project is located in the northwestern province of Salta.
- Taca Taca could produce about 209,000 metric tons of copper annually over a 35-year mine life.
First Quantum Minerals plans to apply before year-end for Argentina's large-investment incentive regime for its Taca Taca copper project, Foreign Minister Pablo Quirno said on Friday. The investment could reach $5.25 billion for the project, which is expected to produce about 209,000 metric tons of copper annually over a 35-year mine life.
Argentina's RIGI tax-break mechanism is part of President Javier Milei's drive to attract foreign capital to the country, including in its mining sector. The push aims to turn Argentina into a bigger supplier of copper, a metal vital for power grids, electric vehicles and data centers.
The project involves an initial investment of $4.2 billion that could rise to $5.25 billion, creating as many as 4,000 construction jobs and 2,000 operating jobs. Located in the northwestern province of Salta, Taca Taca is a large, long-life copper project that First Quantum has said could produce about 209,000 metric tons of copper annually over a 35-year mine life, with scope for future expansion.