US EditionGlencore Submits RIGI Applications for Two Massive Argentine Copper Projects
Glencore seeks tax and currency benefits for $13 billion copper projects as Argentina's program attracts $33.6 billion in investment applications, officials said.
- On Monday, Glencore Plc filed applications to include El Pachon in San Juan and Agua Rica in Catamarca in Argentina’s investment incentive program, seeking tax, customs and currency exchange benefits.
- Amid reforms, the new framework changed Argentina's landscape, providing a key catalyst for foreign investment as the country was once a pariah due to capital controls and state intervention.
- The projects carry a combined capital expenditure exceeding $13 billion, with $9.5 billion for El Pachon in San Juan province and $4 billion for Agua Rica, as San Juan province attracts major mining investments.
- Economy Minister Luis Caputo wrote the filings bring the Rigi program to two applications totaling $13 billion, marking a significant step toward developing El Pachon and Agua Rica.
- With copper demand rising for electrification, San Juan province is poised to become a new mining hub, though copper projects are larger, costlier and more destructive than Argentina's traditional farming and oil focus.
18 Articles
18 Articles
Glencore seeks incentives for US$13-billion Argentina copper mining projects
Switzerland-based commodities firm Glencore files applications to have two copper projects with combined capital expenditure estimated at more than US$13 billion included in RIGI investment incentive scheme.
Glencore plans $13.5 billion copper expansion in Argentina
Key PointsGlencore to invest $13.5 billion in Argentina copper mining projects, boosting global supply for the clean-energy transition. Gary Nagle-led Glencore targets El Pachón and Agua Rica, creating 10,000 jobs and securing tax stability under Argentina’s RIGI framework. Argentina positions as copper powerhouse as Glencore expands mining footprint to meet rising demand from electric vehicles and renewable energy industries.Glencore Plc, the S…
Now there is no doubt that the decision to eliminate copper export duties – among other minerals – was taken to facilitate the announcement of a large investment. Swiss corporation Glencore announced that it requested to include its El Pachón and Agua Rica projects –dedicated to copper mining – in the Large Investment Incentive Regime (RIGI) with an estimated total investment of $13.5 billion within a decade, which would be equivalent to an aver…
Glencore Plc submitted a request for two copper projects, with an estimated total investment of more than US$ 13 billion, to be included in Argentina's Large Investment Incentive Regime (RIGI).The Swiss commodity marketer seeks access to tax, customs and exchange benefits offered by the government program for El Pachón, in the province of San Juan, and Agua Rica, in Catamarca, according to a statement on Monday.Glencore joins a growing list of m…
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