Glencore participated in the first RIGI Business Matchmaking Event, held in Rosario and organised by Argentina’s Ministry of Economy, where it highlighted the importance of strengthening value chains and increasing the participation of national suppliers in major investment projects.
By Panorama Minero
According to the company, the event brought together more than 45 major companies, 2,500 suppliers and representatives of financial organisations, as well as national government officials and provincial governors.
Held under the theme “Connecting National Suppliers with Major Investors”, the event aimed to link projects covered by the Large Investment Incentive Regime (RIGI) with companies supplying goods, services, technology and construction works.
Representing Glencore Argentina, Jorge Montaldi, Institutional Relations Manager, participated in presentations on local development and opportunities within the copper value chain.
Outlook for the Copper Industry
During his presentation, Montaldi addressed the expected growth in global copper demand and Argentina’s potential to increase production.
“Today, the main focus of the discussion is future global copper demand, which will double by 2050, driven by electromobility, renewable energy, data centres and artificial intelligence. With more than 116 million tonnes of identified copper resources, Argentina has a major opportunity, as it is the only country in the world with the capacity to contribute between 1.5 million and 2 million tonnes of copper annually over the next decade,” he stated.
During the event, procurement teams from Glencore Pachón and MARA held meetings with suppliers interested in participating in future contracts associated with both projects.
Planned Investments in San Juan and Catamarca
In August 2025, Glencore submitted applications for admission to the RIGI for El Pachón, in San Juan, and MARA, in Catamarca.
In the case of MARA, which involves developing Agua Rica using Alumbrera’s existing infrastructure, admission to the regime was approved in October 2026.
The project envisages an estimated investment of US$4 billion and submitted its Environmental Impact Report in September.
According to the company’s announced schedule, operations are expected to begin in 2031–2032, with average annual copper production exceeding 200,000 tonnes during the first ten years.
El Pachón, meanwhile, envisages an estimated investment of US$9.5 billion over its first decade.
The company plans to begin construction between 2028 and 2029, with the objective of commencing production in 2034.
Initial estimates indicate annual copper production exceeding 350,000 tonnes, with the potential for progressive expansion to one million tonnes per year, subject to the development of the necessary infrastructure.
Training and Financing for Suppliers
Glencore also highlighted the need to strengthen technical and professional training to meet the requirements of mining projects.
The company stated that it is coordinating initiatives with educational institutions at different levels to promote training and specialisation for workers and future professionals.
Regarding supplier development, Montaldi stated:
“It is essential to strengthen the value chain so that it can meet the mining industry’s high standards. That is why we intend to support suppliers in making this qualitative leap. It is also important to develop a strong mining ecosystem that incorporates financing tools, enabling SMEs to acquire equipment, train their personnel and leverage their growth.”
Glencore’s participation in the RIGI Business Matchmaking Event forms part of its engagement activities with national suppliers, in the context of the development plans for El Pachón and MARA and the resumption of operations at Alumbrera in Catamarca.
