Glencore’s MARA copper project secures Argentina investment-regime approval
Glencore’s Minera Agua Rica-Alumbrera project in Catamarca, Argentina, has been approved under the country’s RIGI large-investment regime. The project combines the Agua Rica deposit with the idle Alumbrera processing complex. One report puts planned investment at $4B and says MARA is targeting annual copper output of more than 200,000 tonnes, with construction due in late 2027 and production in 2031.
Why it matters
RIGI approval gives MARA access to the regime’s fiscal and tax provisions, removing a regulatory step for Glencore’s planned copper development. Glencore expects the integrated operation to rank among the top 25 copper producers once fully developed.
Key facts
- 1Argentina approved Glencore’s Agua Rica project, known as MARA, under the RIGI regime. news.metal.com
- 2MARA links the Agua Rica deposit with the processing facilities at Minera Alumbrera. miningdigital.com
- 3The project is associated with $4B of investment. news.metal.com
- 4MARA is intended to produce over 200,000 tonnes of copper annually. news.metal.com
- 5Construction is expected to begin in late 2027, with production planned for 2031. news.metal.com
- 6Glencore moved the expected first production from the Alumbrera restart to H2 2027. news.metal.com
Open questions
- The reported Agua Rica mineral-resource estimate conflicts: material 1 states 1.2 billion tonnes, while material 3 states 12 billion tonnes.
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.