First Quantum advances US$5.3 billion Taca Taca copper project in Argentina

First Quantum Minerals (FQM) is moving forward with its flagship Taca Taca copper project in Argentina's Salta Province. The company plans to apply for the country’s Large Investment Incentive Regime (RIGI) before the end of the year to leverage tax and investment incentives designed to attract foreign capital into strategic industries.

The project requires an initial capital investment of approximately US$4.2 billion, with total expenditures potentially reaching US$5.25 billion over its lifespan. Once operational, the mine is expected to produce around 291,000 tonnes of copper annually during its first ten years, with an estimated mine life of 35 years. The first phase aims to process 40 million tonnes of ore per year.

Economically, the project is expected to create up to 4,000 jobs during the construction phase and approximately 2,000 permanent positions during operations. The development is positioned as a strategic asset to meet rising global copper demand driven by renewable energy, electric vehicles, and data centers.