PROJECT

Projects

Summary of Collaboration or Co-Development Project

Project Number

610386

Sponsor

FIRST QUANTUM MINERALS (UK) LTD

Date SCCP Disclosed

May 5, 2026

Country

Argentina

Region

Latin America and the Caribbean

Last Updated Date

May 6, 2026

Industry

Infrastructure

Sector

B-B - Metal Ore Mining

Department

Regional Industry INF LAC & EUR

Project Description

International Finance Corporation (“IFC”) is entering into a collaboration agreement with First Quantum Minerals Ltd. (“FQM”), and Corriente Argentina SA (“Corriente Argentina”) whereby IFC will support FQM and Corriente Argentina to align?the Taca Taca copper project with IFC’s environmental and social standards?for future project financing and partnerships (the Collaboration). The Taca Taca project (“Taca Taca”) is a large-scale, pre-feasibility stage copper project located in the Salta province of Argentina with an estimated mine initial life of 35 years . Taca Taca is expected to produce up to 323,000 tonnes of copper per annum, representing significant copper export revenue for Argentina. It is regarded as one of the largest undeveloped copper projects globally. The project is expected to create around 4,000 jobs during construction and around 2,000 jobs once operational.

E & S Information

The environmental and social scope of work for the Collaboration Project will include: (i) an E&S site visit and a high-level E&S risk screening of the Project by the IFC E&S team, aiming to better understand the mining Project's potential environmental, health, safety, and social impacts on the natural environment and surrounding communities; (ii) the assessment of FQM’s plans and strategies to derisk the Project and determine if there are any gaps with respect to IFC requirements, E&S actions, and conditions for investment, including a review of current action plans and related materials, along with a review of progress to date in implementing these plans; (iii) development of an implementation plan by providing an initial set of E&S recommendations to reduce uncertainties around the main E&S risks of the Project, ensuring adequate prioritization of actions; (iv) Support the consultant identification and selection process, including reviewing technical proposals to address any identified E&S gaps (as required); (v) support during the implementation of action plans developed to address IFC PS gaps. IFC’s role in the Collaboration explicitly excludes the preparation of the IFC-compliant Environmental, Social, Impact Assessment report and/or any other Environmental and Social documentation.