Andes Corporación Minera S.A., owner of the Los Azules copper project, and Banco de San Juan S.A., together with Grupo Petersen’s Mining Unit, signed a framework cooperation agreement aimed at strengthening the capabilities of companies, workers and producers in San Juan, with particular attention to the department of Calingasta.
By Panorama Minero
The agreement seeks to expand opportunities for suppliers and workers from San Juan to participate in the value chain associated with the Los Azules project, developed by McEwen Copper in Calingasta.
The initiative forms part of the local supplier development commitments undertaken by the project following its admission to the Large Investment Incentive Regime (RIGI), approved in 2025.
The agreement provides for financial tools, training programmes and technical assistance to address the needs of companies and individuals seeking to enter or expand their participation in activities related to mining development.
Four Areas of Cooperation
The agreement establishes four areas of cooperation aimed at strengthening San Juan’s productive and workforce capabilities.
The first focuses on local suppliers, through credit and guarantee instruments designed to increase their opportunities to participate in the Los Azules value chain.
The second covers technical and vocational training, financial education and other educational initiatives primarily aimed at workers and residents of Calingasta and the rest of the province.
A third area focuses on local development, drawing on local technical expertise to address infrastructure and service needs in coordination with the relevant authorities.
Finally, the agreement includes assistance for producers to introduce irrigation technologies, improve water-use efficiency and diversify their productive activities beyond mining.
Developing Local Capabilities
Michael Meding, President of Andes Corporación Minera S.A. and Managing Director of McEwen Copper, highlighted the opportunities the agreement aims to create for companies and workers in the province.
“Los Azules will be built with talent and companies from across Argentina and around the world, but we want San Juan to play a leading role. This agreement adds tools to help more suppliers and workers from Calingasta and the province increase their participation and their ability to compete,” he stated.
For her part, Silvina Bellantig, Head of Grupo Petersen’s Mining Unit and Director of Banco San Juan, said:
“We know the companies and families of San Juan. We are making our financing, guarantee and training tools available so that more companies and people from San Juan can grow alongside mining investment.”
Following the signing, the organisations will proceed to define priorities and assess the first initiatives. Each initiative must be formalised individually, with specific objectives and monitoring mechanisms.
The agreement will be implemented in accordance with Provincial Law 2827-M on Local Mining Development, the International Finance Corporation (IFC) Performance Standards and the Principles of the United Nations Global Compact.
The parties clarified that the agreement complements Los Azules’ existing policies and does not modify the project’s procurement procedures.
Los Azules and Its Development Outlook
Los Azules has a Feasibility Study published in October 2025, which envisages an initial investment of US$3.17 billion and a 22-year production life.
The study forecasts average annual production of 148,200 tonnes of copper cathodes, with an average of 204,800 tonnes during the first five years.
The project has an approved Environmental Impact Declaration and plans to produce high-purity copper cathodes through heap leaching, solvent extraction and electrowinning.
Grupo Petersen’s Mining Unit, meanwhile, brings together financial tools, industry expertise and a local presence to address the needs of companies, suppliers and communities associated with mining activities.
