Overview
- Glencore and Argentina announced the Agua Rica project entry to the Régimen de Incentivo para Grandes Inversiones (RIGI) during Argentina Week in Paris on Friday, Oct. 2, 2026, with the company formally committing to a US$4.0 billion development.
- The company plans an initial disbursement of US$771 million over the first two years and will finance the project with a mix of Glencore capital and external debt.
- Agua Rica is projected to average about 200,000 tonnes of copper a year, produce exports of roughly US$2.17 billion annually, and send all output to international markets.
- Planned logistics call for ore processing at the existing Alumbrera plant, a mineral pipeline to Tucumán and rail shipments to Rosario, with construction set to begin in November 2027 and operations eyed for October 2031.
- Officials say the project will create up to 3,500 construction jobs and about 1,250 direct operational roles plus 3,750 indirect positions, and the announcement forms part of a broader RIGI-driven package of foreign investment pledges unveiled during Argentina Week.