The Return of Alumbrera and the Historic Copper Window
“Argentina Is Back on the Global Mining Radar”
Interview with the National Senator Flavio Sergio Fama, Chair of the Mining, Energy and Fuels Committee Vice Chair of the Education and Culture Committee
Glencore’s announcement that it will restart operations at the La Alumbrera mine toward 2026 represents far more than the reopening of an emblematic deposit for Argentine mining. According to National Senator Flavio Sergio Fama, it is a clear signal that the country is once again being considered by major international investors and that a decisive new stage is opening for the development of metal mining, particularly copper.
“The reactivation of Alumbrera is very good news for two fundamental reasons,” Fama states. “In the short term, it generates local employment, boosts regional suppliers and services, and increases provincial revenues through royalties. But beyond that, it sends a very strong signal at both the national and international levels: global investors are once again looking at Argentina as a viable destination for developing large-scale mining projects.”
A More Attractive Framework for Investment
The senator emphasizes that the current context is significantly more favorable than in previous years. The combination of rising international prices for copper and gold, together with a more predictable regulatory framework, explains much of the renewed interest. In this regard, he highlights the impact of the Large-Scale Investment Incentive Regime (RIGI), approved under the Bases Law, as a key tool for attracting long-term capital.
“Openings, structural reforms and new rules that favor investment are taking place. This is the path for Argentina to develop its metal mining industry, particularly copper, gold and silver,” he argues.
Regional Impact and Spillover Effects
Alumbrera is expected to produce around 75,000 tonnes of copper, 317,000 ounces of gold and 1,000 tonnes of molybdenum over four years. For Catamarca and the NOA region, the impact will be significant. Fama stresses that employment, the strengthening of local suppliers and royalty revenues will be the main benefits, with an inevitable regional spillover effect.
“Not everything can be sourced from a single province: specialized human resources, services and inputs are required, mobilizing local, regional and national economies,” he explains.
Synergies and a Strategic Vision
One of the central aspects of the announcement is Alumbrera’s role as a “natural facilitator” for the MARA project and the Agua Rica deposit. For Fama, this is a smart strategy: restarting the Alumbrera complex first will allow infrastructure and logistics to be brought back online, which will later serve MARA—Glencore’s true long-term project in the region.
“The reopening of Alumbrera is just the beginning. The major bet is MARA, and this synergy reduces risks, optimizes resources and accelerates timelines,” he notes.
The Role of the State and Oversight
Fama is clear in defining the role of the State: it should not become involved in the business itself, but it must ensure effective oversight. The national, provincial and municipal governments must act in a coordinated manner, aligning interests and exercising their policing authority over environmental, labor and tax matters.
“There is no incompatibility between the remediation processes that began in 2018 and the decision to restart the mine. Companies operating at this level cannot evade international standards. That is where the State must be present—monitoring and ensuring that the rules are enforced,” he emphasizes.
A Historic Opportunity for Copper
The restart of Alumbrera coincides with progress on other major projects such as Los Azules, Vicuña and Taca Taca. In a world that is demanding increasing amounts of copper for electrification, renewable energy and data centers, Fama believes Argentina is facing a unique window of opportunity.
“The country has enormous potential that went untapped for decades. Today there are fiscal and legal conditions, as well as an international scenario, that facilitate mining development. It is time to compete seriously with the world’s leading producers,” he affirms.
Employment, Training and Sustainable Development
For the senator, the success of the new mining cycle will depend on the genuine participation of local communities. “If there is no local employment, no local suppliers and no training of human resources, mining development will be a failure,” he warns. Coordination among governments, companies and universities will be essential to train the population and sustain employment throughout the decades-long life of these projects.
Finally, Fama delivers a clear message to investors, the productive sector and communities: “Argentina has resources and is beginning to show that it can also be a country where it is possible to invest with confidence. To the local productive sector, I say: prepare and align yourselves with the demands of the mining industry. And to communities: get involved, monitor and participate—there is no better steward of the environment and development than those who live in and love their land.”
Flavio Sergio Fama is a National Senator for the province of Catamarca (term 2021–2027), a member of the UCR – Radical Civic Union bloc, elected under the Juntos por el Cambio coalition.
He is a Surveying Engineer, graduated from the National University of Catamarca in 1986, where he received the Diploma of Merit for the highest academic average. He has been a university professor since 1986 and currently serves as a tenured Full Professor.
Between 1992 and 1996 he served as Director of Information Technology for the Province of Catamarca. He later became Dean of the Faculty of Technology and Applied Sciences at UNCA (1999–2007). He was a member and President of the Federal Council of Deans of Engineering (CONFEDI) and Vice President of the Ibero-American Association for Engineering Education (ASIBEI).
He served as Rector of the National University of Catamarca from 2007 to 2021, during which time he also served as a member and President of the National Interuniversity Council (CIN) and numerous academic networks at the Argentine, Latin American and European levels.