Argentina has granted regulatory approval for the Vicuña copper project, a joint venture between BHP and Lundin Energy.
The development represents a US$9.737 billion initial investment in the San Juan province, with potential to scale to US$18 billion.
The project is now the largest mining investment in the country's history.
The approval comes under the RIGI framework, signaling a renewed push by the Argentine government to attract foreign capital into its mining sector.
For global copper markets, the green light removes a significant regulatory hurdle for a major new supply source.
The project is expected to contribute substantially to global copper output in the coming years, adding to the supply side of a market that has faced tightness amid rising demand from the energy transition.