South America has extremely unique natural wonders and is home to more than one country with picturesque natural beauty, eclectic landscapes, and vigorous cultures. Renowned for the Amazon, the Atacama Desert, Machu Picchu, and the Andes Mountains, South America is unlike any other continent. Now, a massive discovery was made under its land, which might even make one of its countries the next Dubai.
A massive discovery was made under this land
The longest mountain range in the world, the Andes Mountains, is located along the Argentina-Chile border. Now, these mountains are set apart from the rest again, as a massive discovery of precious metals was made. The discovery was specifically made in the Vicuña Mineral Resource, which is located in the San Juan Province of Argentina and the Atacama Region of Chile.
How precious metals are made
Over a significant amount of time, vast geologic processes form precious metals. It begins with the tectonic plates moving, which results in magma and lava rising and transporting mineral-rich fluids across the Earth’s crust. The crust has various cracks and faults, in which these mineral-rich fluids begin to cool, forming precious metal veins. After millennia, processes such as erosion and water movement transfer the deposits even further, producing seabeds and floodplains’ placer deposits.
13,000,000 tons of this and more will change everything
South America is known for its precious metals, but it seems this specific area may have an even greater deposit than anticipated. In fact, it is the largest deposit discovery in the past three decades. The latest estimates from Lundin Mining and BHP, which control the Vicuña Mineral Resource, indicate that a massive deposit of the following precious metals was discovered:
- 13,000,000 tons of copper
- 32,000,000 ounces (907,000 kilograms) of gold
- 659,000,000 ounces (18.6 million kilograms) of silver
“The initial Mineral Resource has highlighted the potential for one of the highest grade undeveloped open pit copper projects in the world and one of the largest gold and silver resources globally.” – Jack Lundin, President and CEO of Lundin Mining.
These specific precious metals are crucial, not just for their brilliance in jewelry, but for their application in our technological world as well. Gold, for example, is utilized in computers, communications tools, aircraft engines, spacecraft, and many other technological tools. Copper is widely utilized for its electrical and thermal conductivity abilities. Silver is popular in electronics and solar technology due to its excellent electrical conductivity.
It will make this country the next Dubai
Filo del Sol, with 600 million tons at 1.14% Copper Equivalent (CuEq), and Josemaría, with 200 million tons at 0.73% CuEq, are the primary copper deposit resources of the Vicuña Mineral Resource, which places the region among the ten biggest copper deposits in the world, according to IFL Science.
“We see the potential for Vicuña to be not only a significant copper producer but also one of the world’s largest gold and silver mines as well. Filo del Sol and the Vicuña district are poised to develop into a world-class deposit that will support a globally ranked mining complex.” – Lundin.
These numbers indicate that this region could easily transform into the next Dubai. According to Earth.com, this discovery holds tremendous promise for both Argentina and Chile, including:
- Increased job creation
- Increased trade opportunities
- Massive infrastructure development potential
- Improved essential services in underdeveloped regions, such as schools, roads, and medical centers
Massive discoveries like this result in hope in numerous local communities, especially when the government manages the federal revenue responsibly to ensure the well-being of the country as a whole. However, while mining opportunities may boost the economy, it is extremely important to consider the overall impact on the environment and ecosystem as well. Proper management systems will have to be implemented as the mining industry expands.
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