The treaty, originally signed in 1997 but largely dormant for nearly three decades, was formally reactivated in July 2026 as both governments seek private capital to accelerate a new generation of copper projects. Chilean Mining Minister Daniel Mas indicated the arrangement enables Argentine projects near the frontier to leverage existing Chilean mining infrastructure, including desalination plants, logistics networks, and port facilities tied to the world’s leading copper industry. The Vicuña protocol encompasses the Josemaría deposit in Argentina, Tamberías in Chile, and Filo del Sol straddling both countries. NexoAndino integrates Chile’s Los Helados with Argentina’s Lunahuasi. Filo Sur, already conducting exploration on both sides, will now unify operations under the new framework.
Chilean Undersecretary of Mining Álvaro González stated the protocols advance from treaty reactivation toward concrete results, with the project portfolio set to develop progressively over coming years. Joaquín Villarino, president of Chile’s Mining Council, emphasized binational projects create opportunities for Chilean suppliers and expand use of national infrastructure while supporting Argentina’s mining service needs. The cooperation gains relevance as Argentina builds its copper project pipeline and Chile offers accumulated expertise in large-scale mining processing, logistics, and services.
Argentina’s Mining Secretary Luis Lucero noted the country must maximize its copper opportunity within ten years, positioning Argentina to contribute over half the region’s copper output alongside Chile. However, political risk shadows the investment outlook. Citi’s Global Head of Metals and Mining William Husband warned that while Argentina’s RIGI incentive regime offers 30-year stability for investments exceeding US$200 million, projects not yet protected face uncertainty from potential policy shifts following Argentina’s October 2027 presidential election. Despite President Javier Milei’s pro-mining stance, polling shows declining support amid economic pressures. No fixed timeline exists for implementing the regulatory and technical measures both governments continue evaluating to exploit shared Andean geological potential.
This article was curated and published as part of our South American energy market coverage.
