Mendoza: World's Largest Mining Company Awards El Seguro Project
Impulsa Mendoza Sostenible S.A. announces that the Company's Board of Directors has resolved to award Public Tender No. 2/2026, called for the execution of an Exploration Contract with Option to Purchase for the mining project "El Seguro", to the company Cerro Quebrado S.A., part of the BHP group.
The Process
The "El Seguro" project was the subject of a Private Initiative submitted to Impulsa for the development of exploration activities with option to purchase. Based on the technical and economic analysis conducted, the Company's Board declared the Initiative to be of interest and approved the implementation of a Public Tender as a mechanism for selecting the co-contractor, ensuring open competition among interested parties. The tender was published in the Official Gazette of Mendoza Province, the Official Gazette of the Argentine Republic, and on Impulsa's institutional website, providing appropriate visibility to the process.
The Tender bases established the technical, economic, and sustainability requirements that Impulsa considers appropriate for the mining industry, in line with sector reference standards, with the aim of selecting a bidder that demonstrates the necessary capacity and environmental, social, and governance commitment.
Evaluation and Award
The sole proposal received was analyzed by the Evaluation Committee, which issued a Pre-Award Report recommending the award of the Tender to Cerro Quebrado S.A. (the only bidder presented), after verifying compliance with all requirements specified in the tender documents and obtaining the maximum rating in the technical and economic aspects evaluated. Notwithstanding that only one offer was submitted, the Evaluation Committee specially analyzed its economic convenience, contrasting it with market benchmarks and comparable operations, concluding that the proposal was advantageous to the Company's interests.
Subsequently, Impulsa's Board unanimously resolved to approve the award of the Tender to Cerro Quebrado S.A., taking into consideration the recommendation made by the Evaluation Committee. The process was conducted in full compliance with the regulations applicable to the Tender, respecting at all stages the principles of transparency, publicity, and equal treatment among interested parties.
About the Awarded Company
Cerro Quebrado S.A. is part of the BHP group, one of the world's largest mining companies, whose parent company is BHP Group Limited. In the context of the Tender, the technical, economic, and sustainability track records of the BHP group and companies belonging to the group were considered, as expressly provided for in the Tender Terms and Conditions.
Next Steps
Impulsa is currently advancing negotiations on the Exploration Contract with Option to Purchase with the awarded company, through which the specific terms thereof will be defined.