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History in Argentina

Long History in the Region


Lundin Group’s International Musto Exploration Ltd. wins the bid for the Bajo de Alumbrera copper-gold deposit in Catamarca Province, Argentina. Musto advances the project through Feasibility Study to a construction decision.


Lundin Group’s Argentina Gold stakes the ground in the San Juan Province and begins planning an exploration program.


International Musto sells the Bajo de Alumbrera Project to Rio Algom and North Limited who have the means to develop the massive deposit. It becomes one of the top 10 copper-gold mines in South America from 1997-2018.


Argentina Gold makes the discovery at drill hole 55 that will lead to the development of the Veladero Gold Mine


Argentina Gold fends off a hostile takeover bid by Barrick, and negotiates a friendly deal with Homestake Mining for the sale of Argentina Gold. Barrick eventually acquires Homestake to takeover the Veladero Project and still operates it today, as one of the largest gold mines in South America.


Lundin Group Geologists stake and acquire a large, diversified portfolio of quality exploration properties in Argentina.  The total land package encompasses over 1.2 million hectares and covers key prospective gold and base metal regions and mineralized belts in the country.


Exploration program begins at Josemaria deposit and a discovery is made.


Exploration continues in the Vicuna Region.


The founder of the Lundin Group, Adolf H. Lundin passes away at the age of 73. He was a pioneer in the oil and mining industries whose vision and entrepreneurial spirit was instrumental in the success of many natural resources sector companies.


Suramina Resources is created to hold South American exploration projects in Argentina and Chile including Josemaria, Filo del Sol and Los Helados (Chile).


In honor of the late Adolf H. Lundin, NGEx Resources (“No Guts, No Glory Exploration”) is created by combining Suramina Resources Inc., Canadian Gold Hunter and Sanu Resources.


Seasonal exploration continues at Josemaria, Filo del Sol and Los Helados (Chile).


NGEx Resources makes a discovery at Los Helados (Chile).


NGEx spins out the Filo del Sol project into Filo Mining Corp, and begins engineering studies. 

January 2019

Filo Mining announces positive PFS Results for Filo del Sol with a US$1.3 Billion After-Tax NPV and 23% IRR at Cu $3.00, Au $1500, Ag $18.00.

August 2019

NGEx Resources changes its name to Josemaria Resources and spins out Los Helados project into NGEx Minerals.

September 2019

NGEx Minerals acquires Valle Ancho gold project in Catamarca Province, Argentina.

January 2020

Adam Lundin, CEO and Lukas Lundin, Advisor to the Board, meet with President Alberto Fernandez, Alberto Hensel, Federal Mining Secretary, Sergio Unac, Governor of San Juan in Buenos Aires.

October 2020

Josemaria announces a positive Feasibility Study results showcasing a conventional, robust and rapid pay-back, open-pit copper-gold project.


ESIA is submitted to San Juan Authorities. Josemaria focuses on building strong community relationships, opening offices in San Juan, assembling construction team, and camp expansion begins.


Batidero Camp winterization is completed to allow for year-round operations, and camp expansion is well underway.