Glencore Argentina Copper Output: 1mn t Target Sets New Andean Ambition

Glencore Argentina mine

Glencore Argentina copper output is set to scale as the miner targets 1mn t over 10–15 years. Glencore Argentina copper output will lean on El Pachón and Agua Rica under Argentina’s RIGI incentives. Therefore, Glencore Argentina copper output could reposition the country as a serious copper supplier. Argentina has lacked copper since Alumbrera’s 2018 closure. However, pro-investment reforms now catalyze large-scale project pipelines.

RIGI-backed pipeline anchors capital, jobs, and timelines

Glencore applied to RIGI for El Pachón and Agua Rica this week. The framework cuts tax and customs risk for 30 years. The company plans combined capacity of 500,000 t/yr when fully operational. El Pachón Phase 1 requires about $9.5bn. Agua Rica requires about $4.0bn. The build-out will create over 10,000 construction jobs. Operations will sustain about 2,500 direct roles. As a result, local content, logistics, and power needs will rise.

Strategic implications for global copper supply and Argentina

Argentina could supply 2mn t within a decade as more projects advance. This would complement Chile and Peru in the Andean copper corridor. Meanwhile, Glencore’s plan diversifies supply during mine-grade decline elsewhere. New output would help smelters amid variable concentrate availability. OEMs will watch for ESG, water balance, and community agreements. Midstream investments in ports and transmission will be decisive. Therefore, bankable schedules and fiscal stability remain critical execution risks.

The Metalnomist Commentary

Glencore’s target is credible if permitting, power, and capex discipline hold. Watch early works, EPC awards, and offtake signals through 2026. Argentina’s RIGI lowers risk, but delivery hinges on infrastructure and social license.