Challenger Draws Down First US$2M Under a US$20M Project Finance Facility

The initiative, located in the south of the province, proposes to produce copper oxide for agricultural fungicides, using controlled processes, with low environmental impact and an operational scheme typical of small-scale mining.

Cancambria is a project located in southern Malargüe that is beginning its prospecting phase through desk-based studies, with potential drilling exploration subject to results. The public hearing is scheduled for December 20.

With the activation of the UGA for PSJ Cobre Mendocino, the province adds its second environmental management unit—and the first for an exploitation project—in a key step toward unlocking mining activity after two decades of stagnation.

This initiative is moving forward in coordination with the National University of Catamarca (UNCA), within the framework of the transfer process and the new restructuring of Yacimientos Mineros de Agua de Dionisio (YMAD), a step that will grant the province majority control over the management of the state-owned mining company, together with the National University of Tucumán (UNT).

With projects beginning to move forward, the sector’s main constraint is no longer regulatory or geological, but rather the logistical capacity needed to sustain exploration.

While other jurisdictions negotiate with the federal government, Mendoza supports the bill that strengthens the provincial role in identifying protected areas and seeks to provide predictability for mining investment.