🇦🇷 Glencore, one of the world’s largest natural resource companies, has formally requested Argentina to include its two major copper mining projects, El PachĂłn and Agua Rica, under the country’s new Regimen de Incentivos para Grandes Inversiones (RIGI). These projects represent a combined investment of approximately US$13.3 to US$13.5 billion, marking a significant commitment to Argentina’s mining sector and economic development.
El PachĂłn, located in San Juan province, is estimated to require around US$9.5 billion in capital investment during its first phase over the next decade. This project boasts measured and indicated mineral resources of about 6 billion tonnes of ore with an average copper grade of 0.43%, along with valuable molybdenum and silver content. Agua Rica, also known as the MARA project in Catamarca province, is expected to involve an investment of about US$4.0 billion. It contains approximately 1.2 billion tonnes of ore with 0.47% copper, gold, silver, and molybdenum, and plans to utilize the nearby Alumbrera processing facilities to optimize operational efficiency.
These projects are among the largest undeveloped copper deposits globally and are projected to create over 10,000 direct jobs during construction and more than 2,500 jobs during operation. The developments are poised to significantly boost local and national economies, supporting Argentina’s ambition to become a major global copper producer.
The RIGI program, introduced under President Javier Milei’s administration and Economy Minister Luis Caputo, offers fiscal, customs, and currency incentives aimed at attracting substantial foreign investment in key sectors such as mining. Glencore’s CEO Gary Nagle praised this framework as transformative, highlighting the company’s over two decades of commitment to Argentina and emphasizing collaboration with government entities to realize these projects.
Glencore Argentina’s CEO MartĂn PĂ©rez de Solay underscored the mining sector’s potential to drive Argentina’s economic growth and identified RIGI as a crucial platform for harnessing the country’s natural resources. The company’s Capital Projects Group is advancing project development with a focus on sustainable, responsible mining practices and regulatory compliance.
This landmark investment under the RIGI program not only strengthens Argentina’s position in the global copper market but also presents significant business opportunities for investors and stakeholders in the mining sector. The projects’ scale and government backing signal a promising future for operational development and economic impact in the region.
Source(s): https://www.infobae.com/economia/2025/08/18/una-gigante-minera-internacional-anuncio-las-mayores-inversiones-en-cobre-bajo-el-rigi-por-usd-13300-millones/, https://energiminas.com/2025/08/19/glencore-pide-incluir-proyectos-mineros-por-us-13-500-millones-en-regimen-de-incentivos-de-argentina/, https://www.panorama-minero.com/en/news/glencore-submits-rigi-applications-in-respect-of-its-argentine-copper-projects, https://www.ambito.com/energia/glencore-presento-dos-rigi-mineria-cobre-mas-us13000-millones-n6179704, https://econojournal.com.ar/2025/08/glencore-solicito-la-adhesion-al-rigi-para-sus-proyectos-de-cobre-el-pachon-y-agua-rica/
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