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Global copper rush draws investors to Argentina’s untapped deposits

Financial Times LogoFinancial Times1w ago

Global copper rush draws investors to Argentina’s untapped deposits - Financial Times

Quick Summary:

When Argentina adopted its modern mining code in 1995, and opened La Alumbrera copper mine two years later, the copper industry looked like it might soon take off.

As a result, Argentina has produced almost no copper, despite sharing the Andean geography that has made neighbouring Chile the world’s largest producer, with 5mn tonnes a year.But that is changing.

Muñoz at CRU says mining companies will need currency and capital controls to be lifted before starting construction.“Pre-construction investment is one thing, in the hundreds of millions, but the real test will come when a miner is ready to start building,” he says.“Will the economy be in the right place for them to put down billions?

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Article Details

Author / Journalist: Ciara Nugent

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 06:00:30 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 1149 words

Reading Time: 7 minutes read

Sentences: 14 lines

Sentence Length: 83 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23212214

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 9 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 10 hours ago

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