Glencore is preparing to restart the Alumbrera copper-gold operation in Argentina, with the existing mining complex also providing infrastructure for the larger Agua Rica development. Restart activities are scheduled to commence in the fourth quarter of 2026, while first production is expected in the first half of 2028. Once fully operational, Alumbrera is projected to produce approximately 75,000 tonnes of copper, 317,000 ounces of gold and 1,000 tonnes of molybdenum annually.
The redevelopment benefits from infrastructure established during previous operations. Existing processing facilities, power systems, transport routes and operational knowledge can reduce the amount of new construction required compared with a greenfield mine and provide infrastructure for the planned return to production.
Existing infrastructure requires refurbishment
The condition of the dormant facilities remains an important part of the restart programme. Glencore must assess major equipment, tailings systems, pipelines, electrical installations and process-control infrastructure following the extended shutdown. Refurbishment requirements can increase when equipment is dismantled, inspected or subjected to load testing. The condition of existing assets will therefore influence both the scope and cost of the restart.
The planned production mix includes a substantial gold component. At projected output of 317,000 ounces of gold per year, gold revenue would form an important part of the operation’s production profile alongside copper and molybdenum.
Alumbrera infrastructure supports Agua Rica
Alumbrera’s role extends beyond the restart itself because its processing and logistics infrastructure can support the future Agua Rica development. Reusing infrastructure could reduce the amount of new capital required for development of the larger nearby deposit.
The restart programme spans approximately four years, allowing for staged refurbishment, resource confirmation and procurement of long-lead equipment. During that period, Glencore also faces potential cost pressures from inflation and contractor availability, while inspections could identify facilities requiring more extensive replacement than initially planned.
With first production targeted for the first half of 2028, Alumbrera is scheduled to return to operation after the existing infrastructure has undergone refurbishment and preparation. The planned output of 75,000 tonnes of copper, 317,000 ounces of gold and 1,000 tonnes of molybdenum annually forms the production basis for the restarted operation.
