Canadian mining group announced to Alberto Fernández investments for US $ 4.1 billion

Also, at that stage, approximately 3,000 direct and indirect jobs will be created. In the operation stage, it is estimated that 2,500 direct and indirect jobs, consolidating the generation of employment linked to the mining activity in that province. The governor of San Juan, Sergio Uñac, said that “we are committed to responsible mining because this will help lower the unemployment rate”.

During the meeting, the head of state was able to learn about the details of the project that will imply that Argentina once again has a copper production plan at the national level, from the growing demand for this mineral based on the energy transition that occurs globally. “Argentina has enormous potential to continue our ccommitment to a sustainable environmental position ”said Lundin.

Josemaria Resources Inc. belongs to the Lundin Group and is focused on the development of the copper and gold mining project in San Juan, whose environmental standards, policies for the prevention and mitigation of impact on the territory, and control of environmental risks are in line with national and international requirements in this area. The company claims to be committed to lto implementation of local supplier development policies, whose main objective is to incorporate goods and services produced at the national and provincial level.

In that line, The Ministry of Productive Development reported that it will make all the available tools available to the company to strengthen the processes of acquisition of local goods, particularly through the National Supplier Development Program (PRODEPRO) that assists numerous companies linked to mining activity in the country.

The keys to the Josemaría investment project

• The Lundin Group will invest US $ 4.2 billion to produce copper, gold and silver in the Province of San Juan, in the Josemaría Project.
• The metallurgical extraction process in Josemaría will be simple and conventional and will use conventional flotation reagents without the use of cyanide.
• Argentina will once again have a copper production project, the demand of which will grow significantly in the coming years given that it is a key mineral for the global energy transition (renewable energy, electromobility, etc.).

Foreign exchange earnings

• It implies an inflow of foreign currency as Foreign Direct Investment for a total of US $ 3,100 million between 2021 and 2025.
• As of its entry into operation, it will generate a flow of foreign exchange from net exports of US $ 1.7 billion annually for the next 19 years.
• From the beginning, the project contributes to the generation of genuine foreign exchange to finance the needs of the local economy.

job

• During the construction process, more than 3,000 direct jobs will be generated.
• During the operation, 2,500 direct and indirect jobs will be generated.
• This project consolidates the generation of employment linked to mining activity, which has made San Juan position itself as one of the provinces with the best socioeconomic results in the region.

Provider development

• The company is committed to implementing a local supplier development policy, in order to incorporate goods and services produced provincially and nationally.
• The Ministry of Productive Development will make available all the tools available to strengthen said process, especially the National Supplier Development Program (PRODEPRO), which today assists numerous companies linked to mining activity.
• In this way, work continues to ensure that activities related to natural resources are a lever for national productive and industrial development.

Environmental Standards

• The project will be carried out in compliance with and respecting the highest environmental standards, both national and international.
• The national government and the local government will control compliance by the company with the policies of prevention and mitigation of impacts on the territory, control of environmental risks and environmental restoration and compensation, throughout the investment and operation process. from the mine.