Construction of Josemaría access road to start in 2025

Construction of the main road for the Josemaría copper project, operated by Canadian company Lundin's Argentine unit Deprominsa, is planned to start in the second quarter of 2025 and take two or three years.

The length of the construction period depends on whether sections E and F of the US$375mn, 220km Northern Corridor, key to reach the mine in Argentina's San Juan province, will be built in parallel or in stages, local media reported.

A tender to award construction remains open until year-end, and Deprominsa will prioritize construction companies that hire local labor and partner with provincial suppliers.

The local government scheduled a public meeting for November 14 as part of the authorization process and to inform residents about the route's environmental impact statement, which has been approved by the provincial highway department.

One objective of the Northern Corridor is to avoid having to cross neighboring La Rioja province to reach the mine.

Four embankments and a bridge will be installed along the route, which starts in the town of Angualasto and leads to the mine site 4,230m above sea level.

The 20km section E will be of medium complexity and involve new sewers and pavement, while 30km section F will be more complex and involve channeling rivers and raising slopes, building docks, ditches and reinforced walls.

JV

In July, Australia's BHP and Lundin agreed to form a JV to develop Josemaría and Filo del Sol, on the Chile/Argentina border, and all regulatory approvals for the arrangement are expected in 1Q25.

Josemaría is planned to produce 136,000t/y of copper, 231,000oz/y gold and 1.16Moz/y silver.