San Juan Province
Los Azules: world's 9th largest copper deposit, could = 35% of provincial GDP. $2.7B + $15B+ investments approved. Wine industry opposition over water. By 2026: copper vs. wine coexistence test.
San Juan Province positions itself for transformative copper extraction—Los Azules (world's 9th largest undeveloped copper deposit) alone could account for 35% of provincial GDP when operational, producing 327 million pounds of copper cathode annually over 21 years. The December 2024 Environmental Impact approval and September 2025 RIGI admission signal regulatory pathway clearing.
The investment scale is unprecedented: Los Azules's $2.672 billion RIGI commitment, Vicuña Argentina's $15-17 billion decade plan (BHP/Lundin joint venture), and Josemaría's $4-5 billion pre-construction stage project targeting 2026-27 operation with $1.1 billion annual exports. Combined copper development could generate $30+ billion in export revenues—potentially the largest mining boom in Argentine history.
San Juan is classified among Argentina's "most mining-friendly" provinces, explaining investment concentration. The regulatory environment accepts projects that other jurisdictions might reject, creating comparative advantage for extraction.
Yet tension with the wine industry reveals the environmental-economic tradeoff. Wine producers argue mining threatens fresh water resources essential for vineyards. Los Azules's projected 150-250 liters/second water consumption sparks debate: mine proponents compare to single vineyard requirements, opponents emphasize cumulative watershed impact.
By 2026, San Juan tests whether copper can coexist with wine, or whether provincial economic transformation comes at the cost of the traditional industry that defined regional identity.