Buenos Aires, Jan 10 (NA) – In an operation expected to impact Argentina's mining sector, Anglo-Australian Rio Tinto has revealed it is analyzing the acquisition of Swiss Glencore. If successful, it would create the world's largest mining company, with a combined market value of over US$200 billion. An attempt was made last year, but negotiations fell through. A successful deal now would mark the largest transaction in an industry on which Argentina has pinned great hopes. Amid ongoing discussions on the glacier protection law, the Argentine government has maintained its intention to emulate Chile in the exploitation of its natural resources. "Why are minerals extracted on one side of the mountain range and not on ours?", they ask at the Casa Rosada. Glencore and Rio Tinto hold significant copper assets. The merger would create a mining giant to rival BHP Group, another major player in the sector. According to market specialists, Rio Tinto has a market capitalization of around US$137 billion, while Glencore's is US$70 billion. What they own in Argentina Rio Tinto, the world's second-largest mining company (after BHP), has lithium and copper projects in Argentina, such as Rincón in Salta. Through its subsidiary RIGI, it plans to produce some 60,000 tons of lithium carbonate. In Olaroz, Jujuy, it already has advanced operations. Additionally, it is constructing the Fénix and Sal de Vida projects in the Salar del Hombre Muerto, Catamarca. Meanwhile, Glencore has restarted the copper mine Bajo de la Alumbrera, in Catamarca, the last major operation of that mineral in the country, which was closed in 2018. In the same province, it has investments of US$3.8 billion in the pipeline for Agua Rica, and another US$9.5 billion for El Pachón, San Juan.
