Glencore submits RIGI applications for two massive Argentine copper projects

[Glencore Company Headquarters in Zug/Baar (Switzerland)]
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Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) said Monday it filed applications [https://www.bloomberg.com/news/articles/2025-08-18/glencore-seeks-incentives-for-13-billion-argentina-copper-mining-projects] with Argentina's government for two copper projects with a combined $13B-plus in planned capital spending to be included in the RIGI investment incentive program, which offers tax, customs and currency exchange benefits.

Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) joins a growing list of miners seeking access to the program in a country that was once a pariah for foreign investment, but Argentina is regaining the confidence of companies as President Milei tries to protect capital commitments.

"This framework has changed the investment landscape in Argentina, providing a key catalyst to attract major foreign investment to the country," Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) CEO Gary Nagle said. "Today's submission marks a significant step towards the development of El Pachon and Agua Rica."

The two projects are expected to require investments of $9.5B and $4B, respectively, if Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) decides to move forward with their development.

El Pachon has the potential to become one of the world's biggest copper mines and is located in a cluster of deposits that is poised to become a new production hub as copper demand grows.

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