Glencore, one of the world's largest mining companies, has submitted applications to include two major copper projects, El Pachón in San Juan and Agua Rica in Catamarca, in Argentina's Incentive Regime for Large Investments (RIGI). The combined capital expenditure for these projects is estimated at more than $13 billion, with $9.5 billion allocated for El Pachón (Phase 1) and $4 billion for Agua Rica over the next decade. These projects are expected to create approximately 10,000 construction jobs and more than 2,500 operational jobs. Glencore anticipates producing around 1 million tons of copper from these projects over the next 10 to 15 years. The company is seeking tax, customs, and currency exchange benefits through the RIGI program, which aims to encourage large-scale investments in Argentina. The announcement aligns with Argentina's ongoing efforts to boost its mining sector, complementing its status as a major lithium producer and enhancing global supplies of critical battery metals.
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Glencore targets 1 million tons of copper in Argentina over coming decade https://t.co/tMIIy4pLbM https://t.co/tMIIy4pLbM