Rio Tinto is accelerating its entry into the Argentine copper market, with the Anglo-Australian mining giant pursuing stakes in multiple projects in the San Juan province.
The company is reportedly seeking a participation interest in the Los Azules project and has made an investment in the Vicuña District.
Additionally, Rio Tinto is emerging as a candidate to acquire a minority stake in the Taca Taca project, according to reports from Clarín.
This strategic expansion comes as the global copper market faces mounting pressure from surging demand driven by the electrification of data centers and the rapid adoption of electric vehicles.
The miner’s move into Argentina represents a significant diversification effort, particularly after recently ruling out a merger with Anglo-Swiss rival Glencore.
By targeting high-potential assets in South America, Rio Tinto is positioning itself to capture a larger share of the critical minerals supply chain.