Argentina approves $9.7B Vicuna mine development for tax break scheme

Argentina approved the $9.7 billion Vicuna copper project for the country’s large investment tax mechanism, Economy Minister Luis Caputo said on Tuesday.

The mine, to be operated by Australia’s BHP and Canada’s Lundin Mining, is set to be Argentina’s largest ever mining development and one of the world’s five largest copper mines. Investment in the project could reach $18 billion, with the mine projected to generate exports of more than $2.6 billion a year, Caputo said.

(By Iñigo Alexander; Editing by Kylie Madry)