Overview
- Glencore confirmed a restart of the Alumbrera copper mine by late 2026, with production likely beginning in the first half of 2028.
- The company plans to lift copper output to about 1.6 million metric tons a year by 2035, up from roughly 950,000 tons last year.
- Executives cited Argentina’s investment regime and stronger copper and gold prices as key reasons for the restart.
- The restructuring behind the copper-focused strategy includes about 1,000 job cuts, according to company briefings to investors.
- Alumbrera, located in Catamarca, had been Argentina’s last producing copper mine before its 2018 shutdown.