We’ve mentioned the project on these pages previously this year, last week came more solid
evidence that the big Taca Taca project in Salta is going to happen, starting next year. On
Tuesday, FM.to co-founder (with his recently deceased brother) Matt Pascal, along with the
head of its Argentina team Germn Prez, met Argentina’s Cabinet Chief Guillermo Francos (a
level above even the mining minister) in a public meeting that suited both sides. First Quantum
at Taca Taca got more publicity for its project now in the Environmental Assessment stage (the
EIa permit scheduled to be awarded in 1q25) and the Milei government got more evidence that
its policies to attract large-scale FDI were working. Cabinet Chief Guillermo Francos said for the
record (quote translated) (13):
“This project, on which I’ve spoken with (Salta) governor Gustavo Senz, aimed at the production
of copper, gold and molybdenum, will be the biggest ever mining project in the province of Salta.”
“The development of this key project for the population of Salta and of Argentina is set on the
RIGI laws that were passed as part of the “Bases Law” reform package, aimed at generating the
right conditions of stability, clear rules and a competitive playing field that are needed for this
type of investment in Argentina.”
The presser also confirmed the capex ticket price of U$3.6Bn, would generate around 10,000
jobs during the construction phase and would cover exports of around U$2Bn per annum once
in operation. The cabinet chief also noted that the development would also mean upgrades to
Salta’s electricity transmission, railway and airport systems.