Swiss mining giant Glencore has announced the reactivation of Minera Alumbrera in Catamarca province, marking Argentina’s return to large-scale copper production and export after a full decade without it. The news has a direct impact on the Industrial Corridor of Santa Fe: Glencore owns a mineral loading dock in Puerto General San Martín, located right next to Terminal 6, which historically handled the mineral concentrates arriving by train from northwest Argentina (NOA).
According to the official statement, the operation will restart by the end of 2026, reaching full production capacity in the first half of 2028, thanks to two decisive factors:
- The Large Investment Incentive Regime (RIGI), which, according to the company, provides long-term fiscal predictability and legal certainty.
- A favorable global context, with rising copper and gold prices and sustained demand driven by energy transition technologies, electric mobility and industrial production.
A comeback that changes Argentina’s export scale
After years of inactivity, Alumbrera expects to produce – in its first four years of reactivation phase – 75,000 tonnes of copper, 317,000 ounces of gold and 1,000 tonnes of molybdenum.
For scale: the country’s only currently operating copper mine, Martín Bronce in Jujuy, produces just 1,500 tonnes per month, and even that small volume must be exported through Chile.
The return of Alumbrera, combined with the advancement of the MARA (Agua Rica) and El Pachón projects – both now under the RIGI regime with a combined investment of approximately USD 13.5 billion – once again positions Argentina as a serious contender on the global copper producers map.
Regional impact: the mining corridor returns to the Paraná River
The reactivation restores a leading role to Glencore’s dock in Puerto General San Martín, an infrastructure that for two decades served as the strategic export point for mineral concentrates. Trains from Catamarca arrived there and loaded ships bound for international markets.
The decision means the reopening of that rail + Paraná River port logistics corridor, once again diversifying the cargo mix of the agro-export hub with high-value mining products.
Synergies for Argentina’s mining future
Martín Pérez de Solay, CEO of Glencore Argentina, stated that reactivating Alumbrera “facilitates” the development of the MARA project by keeping critical infrastructure operational – such as the concentrator plant and railway access – and allowing the retraining of the local workforce.
“These projects will support the country’s ambition to become one of the world’s leading copper producers,” the executive emphasized.
In Catamarca, the MARA project alone is expected to average over 200,000 tonnes of copper concentrate per year during its first decade, partly using Alumbrera’s existing infrastructure.
A strategic opportunity for the country and the region
The copper supply chain will once again link the Andes mountains with the river ports of the Paraná River littoral. The announcement not only boosts the economy of northwest Argentina but also puts the Puerto General San Martín port complex back in the spotlight as a key node for exports beyond agriculture.
After 10 years of absence, Argentina re-enters the global copper map, and the Santa Fe industrial corridor once again plays a starring role in that route.