Wrap Text
Glencore receives RIGI approval for Agua Rica (MARA)
Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration
number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland
2 October 2026
Glencore receives RIGI approval for Agua Rica
(MARA)
Glencore is pleased to announce that it has received approval for MARA under the
Incentive Regime for Large Investments (“RIGI”) in Argentina.
The approval comes as we continue to make good progress with the restart of
Alumbrera, with first production now expected in H2 2027 compared to the original
guidance of H1 2028. The operation is currently providing work for close to 2,000 people,
with most of the workforce coming from the province of Catamarca. The restart is a
natural enabler for Minera Agua Rica – Alumbrera (MARA). It is designed to reduce
ramp-up risk for the concentrator and downstream logistics, maintain and retrain the
workforce ahead of MARA first ore and keep in operation critical infrastructure that is
ultimately expected to be shared with MARA, thereby generating operational synergies.
Martín Pérez de Solay, CEO of Glencore Argentina, commented:
“RIGI approval is a significant milestone for MARA and a clear sign of confidence in
Argentina’s long-term investment framework, helping to underpin the country’s
ambition to be one of the world’s leading copper producers.
“The RIGI provides the fiscal and regulatory certainty needed to commit capital of this
scale, and we thank the national authorities and the province of Catamarca for their
constructive engagement throughout the process. Together with the restart of
Alumbrera and our plans for El Pachón, Argentina represents a key pillar of Glencore’s
copper growth, supporting our efforts to enable skilled employment, build local supply
chains and deliver the copper the world requires.”
About Agua Rica
The Agua Rica Project is a large-scale copper, gold, silver and molybdenum deposit
located in the province of Catamarca, Argentina. The Agua Rica Project currently has
estimated measured and indicated mineral resources of c.1.2 billion tonnes of ore, with
average grades of 0.47% copper, 0.20 g/t gold, 3.40 g/t silver and 0.03% molybdenum.
The project plans to use the Alumbrera processing facilities, located 35km from the
Agua Rica pit, for processing the ore, giving rise to the MARA project. The project has the
potential to produce an average of more than 200,000 tonnes of copper in concentrate
per annum during its first ten years of operation.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
Francis de Rosa t: +61 8247 6352 m: +61 417 074 751 francis.de.rosa@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 60 commodities. Through a network of assets, customers and suppliers that
spans the globe, we produce, process, recycle, source, market and distribute the commodities that advance
everyday life.
With over 140,000 employees and contractors and a strong footprint in over 30 countries in both established
and emerging regions for natural resources, our marketing and industrial activities are supported by a
global network of offices.
Glencore’s customers are principally industrial consumers, such as those in the automotive, steel, power
generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to
producers and consumers of commodities.
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Important information
This material does not purport to contain all of the information you may wish to consider. For further important
information, including in connection with forward-looking statements and other cautionary information, refer to the
Important notice section of Glencore’s 2025 Annual Report, which is available at glencore.com/publications. By their
nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements to differ materially from any future events, results, performance,
achievements or other outcomes expressed or implied by such forward-looking statements. This document does not
constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for
any securities.
Other information
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this
document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to
Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not
imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer
collectively to members of the Group or to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 02/10/2026 02:47:00
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