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3h ago

Glencore Submits Two Copper Mega‑Projects Worth US$13.3 Billion to Argentina's RIGI

The filings increase RIGI's pipeline to 20 projects, awaiting Evaluator Committee approval to unlock long‑term fiscal, customs and foreign‑exchange incentives.

La minera anticipó una inversión de más de US$13.000 millones
En esta fotografía del 14 de abril del 2011, se ven las oficinas generales de Glencore en Baar, Suiza. La compañía minera Xstrata PLC anunció el martes 7 de febrero del 2012 planes para fusionarse con Glencore, un acuerdo que crearía un monstruo con cerca de 175.000 millones de dólares en ingresos. (Foto AP/Keystone/Urs Flueeler/Archivo) suiza zurich suiza empresa compra venta de materias primas Glencore sede edificio
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Overview

  • Glencore filed RIGI adhesion requests for two 100%‑owned projects: El Pachón in San Juan with an estimated US$9.5 billion of capital and Agua Rica/MARA in Catamarca with an estimated US$4.0 billion, totaling about US$13.3 billion.
  • The company projects the two developments will create more than 10,000 direct jobs during construction and over 2,500 direct jobs in operation, and provincial officials have publicly welcomed the filings on grounds of employment and local development.
  • Glencore reports large resource bases at both sites (roughly 6,000 million tonnes at El Pachón and 1,200 million tonnes at Agua Rica) and says Agua Rica would use the nearby Alumbrera processing complex for mineral treatment.
  • The submissions push the RIGI pipeline to about 20 projects worth roughly US$33.6 billion, and the regime offers long‑term fiscal, customs and FX incentives, transferable VAT credits and legal stability for eligible investments.
  • The requests now go to the Evaluator Committee and relevant national and provincial authorities for review, and approval is conditional on RIGI's size and disbursement requirements, technical and environmental assessments, and required social and provincial clearances.