Argentina’s Minister of Economy, Luis Caputo, said that the application for the Agua Rica project to join the RIGI could be ready for approval in the coming weeks. The initiative involves processing ore from Agua Rica using the Bajo La Alumbrera facilities in Catamarca, giving rise to the MARA project. The official emphasized that the operation will complement the work already underway at Bajo La Alumbrera, which is currently being reactivated, and projected a significant impact on job creation.
By Panorama Minero
During his visit to Catamarca for the signing of the agreement marking the start of construction of the Albigasta Aqueduct—a project that will benefit Catamarca and Santiago del Estero—Minister of Economy Luis Caputo raised expectations regarding RIGI approval for the MARA project, which is included in the megaproject submitted by Glencore in August last year.
“Alumbrera is already underway, and now, in the coming weeks, a very important project for the development of MARA will move forward, which will complement very well what is already being done,” Caputo said. According to the minister, the development of MARA will generate more than 6,000 direct and indirect jobs: 3,100 direct jobs and another 3,200 indirect jobs, in addition to the impact from infrastructure works associated with the project.
The head of the Economy Ministry framed MARA’s progress within a long-term economic vision. “We believe that the country moves forward through production, investment and job creation. That is what truly generates sustained long-term growth, not an illusion created through monetary issuance, subsidies, or something that may ultimately produce some short-term monetary illusion,” he stated.
Along those lines, Caputo outlined the pillars of the economic policy linked to the sector: “The approach we are taking is this: investment, employment, the creation of better jobs, education. This is what will ultimately drive the country’s reconstruction process.”
The Project
In August 2025, Glencore, which owns 100% of the Agua Rica (Catamarca) and El Pachón (San Juan) projects, formally submitted applications for both initiatives to join the RIGI, with planned capital investment of US$4 billion for the development of Agua Rica and US$9.5 billion for Phase 1 of El Pachón over the next decade.
According to information released by the company, the two projects combined are expected to generate more than 10,000 direct jobs during the construction phase and more than 2,500 direct jobs during the operational phase. Once their RIGI applications are approved by the relevant authorities, both initiatives will gain access to a long-term investment framework and greater investor protections.
