Latest news with #GlacierLaw
India.com
2 days ago
- Business
- India.com
Gold, silver, copper; world's biggest treasure discovered at..., two countries set to become super rich, they are...
(Representational image/AI generated) Buenos Aires: The discovery of the world's biggest treasure in the Andes mountains has created a stir in the mining world. Discoveries have revealed that huge reserves of copper, gold and silver have been found in a special area of the high mountains of the Andes, which is attracting the attention of the whole world. This huge reserve is located near Chile and Argentina. After the latest study, experts believe that it contains 13 million tonnes of copper, about 1 million kilograms of gold and more than 180 million kilograms of silver. has revealed this in its report. While these estimates may be surprising for some people, for those associated with the mining industry, it tells that there is still a lot hidden in the Andes. This major discovery was mentioned by Jack Lundin, CEO of Lundin Mining, who described Filo del Sol as one of the most important greenfield discoveries in the last 30 years. Lundin Mining is actively working with other partners in the area to explore the area and possibly turn it into a large-scale operation. Mining companies have been eyeing some sites in the Andes for decades. The Filo del Sol deposit is about 16,400 feet (5,000 meters) above sea level, making it difficult for logistics. Weather extremes and a lack of oxygen also make operations challenging. The region's high altitude requires special training, health checks and extra support for anyone working there. Critics say mining in the Andes is not wise or safe. There are also environmental concerns. Argentina's Glacier Law, which protects the country's freshwater reserves, 70 percent of which come from glacier sources, is also at the center of the debate. Activists say mining should not be put above water security.
Yahoo
19-05-2025
- Business
- Yahoo
Scientists Found a Massive Copper Deposit That Could Change the Future of Energy
Here's what you'll learn in this story: An initial mineral resource estimate, exploring deeper mineralization of the Filo del Sol copper deposit in northwest Argentina, found that the area likely contained five times more metals that previously believed, making it one of the largest deposits in the world. Although a boon for many industries in need of copper, gold, and silver, mining in the high Andes is far from easy due to high altitudes, harsh climates, and environmental concerns. Environmentalists worry that some mines in the region may violate the country's Glacier Law—designed to protect Argentina's largest source of a freshwater—and use a lot of groundwater during the mining process. Located along the border of Chile and Argentina, the Filo del Sol copper deposit has been under investigation for years for potentially being one of the largest copper deposits in the world. And that makes sense, considering this deposit is nestled along the Atacama Desert—long known for its immense copper reserves due to its location in the Andes and its placement within the eastern portion of the Ring of Fire. However, a new initial mineral resource estimate completed earlier this month suggests that the companies in charge of mining this area—the U.S.-based Lundin Mining and BHP—may have stumbled upon five times more metal than they bargained for. According to a statement from Lundin Mining, the new assessment estimates the presence of up to 13 million tonnes of copper, 907,000 kilograms (32 million ounces) of gold, and 18.6 million kilograms (659 million ounces) of silver. This new update, gathered from data collected from 400 additional exploration holes, came from the discovery that deeper mineralization of copper far exceeded the estimates that were closer to the surface. According to AFP, Filo del Sol could prove to be richer still, as experts dig deeper and explore the resource's northern and southern boundaries. 'Filo del Sol has been one of the most significant greenfield discoveries in the last 30 years and an amazing journey for all those that have been involved,' Jack Lundin, CEO of Lundin Mining, said in a press statement. '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.' This mine is particularly lucrative, as many of the metals found there will be vital to both the green energy revolution and other industries (such as aerospace and telecommunications) that need precious metals like gold. Of course, discovering the existence of these resources is one thing, and extracting them is something else entirely—especially due to this open pit mine's particular location. Located at roughly 5,000 meters (16,400 feet) above sea level, the mine and its high elevation (not to mention the overall punishing environment) can take a toll on workers and even induce altitude sickness, according to AFP. As with mining any hard-to-reach location, the logistics of moving equipment up to those altitudes will also be difficult. Extracting the metals from this portion of the Andes—an initial mineralization that occurred during the Late Cretaceous—will also cause lasting damage to an already fragile ecosystem. Mining operations on both sides of the border have tried to clean up their act, and mines in other areas of Chile's Atacama Desert are working toward transitioning to mining powered by renewable energy, according to Mining Technology. In December of 2024, Argentina's largest private electricity generator Central Puerto began a feasibility study to figure out the best way to build transmission lines capable of ferrying renewable energy to mining sites in the northwest. Lundin also announced in 2022 that they'd be building high-voltage power lines to bring renewable energy to the area and keep diesel consumption to a minimum. However, concerns remain. In a report from Dialogue Earth, the environmental NGO Fundación Ambiente y Recursos Naturales (FARN) has accused Lundin Group of flouting the country's Glacier Law, which prohibits the establishment of mining pits within the periglacier area (the country's current president is actively seeking to undermine that law). Some 70 percent of the country's drinking water comes from glaciers. It also doesn't help that mining itself requires lots of water. For example, one of the country's biggest mining sites—La Alumbrera—uses 25 billion liters of water every year, which is equal to 34 percent of the water consumed by the region's nearly half a million inhabitants in a year, according to FARN. It's no secret that humanity needs minerals hiding within the Earth if it has any hope of transitioning away from fossil fuels. But in the quest for those minerals, it's best not to kill the patient to cure the disease. You Might Also Like The Do's and Don'ts of Using Painter's Tape The Best Portable BBQ Grills for Cooking Anywhere Can a Smart Watch Prolong Your Life?
