Wedoany.com Report-Dec.4, Glencore announced on Wednesday that it intends to restart operations at its Alumbrera copper and gold mine in Argentina by the end of next year, marking the resumption of activity at a site that was the country's last operating copper mine before it ceased production in 2018.

Located in Catamarca province in northern Argentina, the Alumbrera project is expected to begin producing again during the first half of 2028, according to the company's statement.

Glencore explained that the decision to bring the mine back into operation reflects several favorable factors currently supporting the Argentine mining sector.

"The decision to resume operations ... is based on the context of a robust tax regime, which provides greater support for investment in the Argentine mining industry, in addition to the sustained increase in copper and gold prices, and the positive outlook for both commodities," Glencore said.

The company highlighted that elevated prices for copper and gold, combined with an improved investment environment, have created suitable conditions for reactivating the long-idled asset. Alumbrera, which operated successfully for two decades until 2018, still holds significant remaining mineral resources that can now be developed profitably under present market conditions.

The restart of Alumbrera will involve the reconditioning of existing infrastructure and the implementation of updated operating plans. Once in full production, the mine is expected to contribute meaningful volumes of copper concentrate and gold to Glencore's global supply chain.

The announcement comes at a time when global demand for copper continues to grow, driven primarily by applications in renewable energy infrastructure, electric vehicles, and power transmission networks. Industry forecasts indicate that supply from new and restarted projects will be needed to meet anticipated demand in the coming decade.

Glencore's move also underscores growing confidence among major mining companies in Argentina's potential as a copper-producing nation. The country hosts several world-class deposits, many of which are advancing through various stages of development and construction.

By bringing Alumbrera back online, Glencore will strengthen its position as one of the leading suppliers of copper at a time when the metal is viewed as critical for the ongoing transition to cleaner energy technologies worldwide. The project is expected to generate employment opportunities in Catamarca province and contribute to regional economic activity through local procurement and services.

The planned restart represents a significant milestone for Argentina's mining industry, demonstrating that large-scale copper projects can be successfully revived when supported by stable economic policies and strong commodity markets.