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How can Milei unlock Argentina s copper riches? Fix the economy | Hellenic Shipping News Worldwide
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Global mining heavyweights including Lundin Mining, Glencore and First Quantum Minerals are piling into Argentina as a new government intent on luring foreign investment propels the companies closer than ever to opening up vast copper deposits in the red-hued Andes.
It’s part of a colossal wave of spending needed worldwide to prevent a supply crunch for the metal, a critical component of the electrification push to slow climate change.
Canadian miner First Quantum Minerals, which lost the right to operate its copper mine in Panama last year following protests by environmental groups and a court ruling deeming its contract void, is seeking to speed its copper projects in Peru, a company executive said on Wednesday.
One of the three largest global copper producers, First Quantum in Peru controls the La Granja project, worth at least $2.5-billion, and the $1.86-billion Haquira project.
"These are projects that need to be accelerated," said the mining company's project development director, Steven Lewis, during a speech at a mining forum in Lima.