What was Stantec’s role in the approval of Antamina’s MEIA?

Stantec served as the primary consultant for the MEIA of Antamina, marking a significant achievement in a lengthy project that demanded substantial resources over nearly four and a half years. This accomplishment is a remarkable milestone for the continuity of Antamina, extending its operational life until 2036.

How did Stantec leverage its global presence to contribute to Falchani's PEA?

Stantec's US offices took the lead in conducting the PEA for American Lithium's Falchani lithium project, with local support from the Peruvian team. This comprehensive study required specialized knowledge in lithium, a field often reliant on expertise from various countries. Falchani distinguishes itself as a unique deposit—it is not brine but rock, presenting distinctive characteristics, measurement methods and operational nuances. The mineralogical complexity adds an extra layer of challenge, an arena where a globally connected firm like Stantec excels.

What are the main advantages of a mining company engaging in carbon reduction and climate change initiatives?

The journey into ESG initiatives typically begins at the corporate level for mining companies. When they decide to delve into initiatives such as measuring their carbon footprint—the initial step— to get a certification and controls, we are well-equipped to collaborate. Suppose their focus extends to implementing measures to reduce carbon emissions; we assist in establishing the baseline, covering aspects like vehicle types, modernizing existing energy sources, and the methodologies employed. We have well-established metrics and comprehensive goals, providing a robust framework for support in various areas.

These initiatives can significantly enhance a mining company's corporate image, improve access to loans, and attract funds more effectively than competitors.  

How has the conversation around ESG initiatives evolved in Peru over the past few years?

We find ourselves somewhat behind compared to our global counterparts in other geographies. Peru is lagging behind in this area, but progress is slowly being made. Local and transnational mining companies are now setting goals and committing to protocols to establish their baseline and define targets for carbon reduction over the next 10, 15, or 20 years. This trend is gaining momentum. For example, we have assisted a local mining company in obtaining certification for an English standard related to its carbon footprint. This establishes a starting point and signifies a commitment, subject to ongoing audits.

The cost-benefit analysis is more clearly defined in other jurisdictions. In Peru, it is crucial to consider local factors, as immediate benefits seem to be fewer. If this trend persists, the focus may stay more at the corporate and national levels. The landscape needs to evolve, requiring tangible local benefits to speed up limiting greenhouse gas emissions and mitigating the impacts of climate change.

What is the status of the transition to dry tailings in mining technology?

The technological shift from wet tailings to dry ones is undoubtedly true and underway. However, the current production rates of dry tailings do not meet the treatment volumes required for a large mine in Peru or globally. The systems still operate at smaller scales than mines generating wet tailings, making them economically unavailable yet. There is still a technological gap to bridge in this regard.

Consequently, we explore numerous intermediate solutions between fully dry and thoroughly wet tailings. If avoiding wet tailings is not feasible, we investigate alternatives before achieving entirely dry tailings. One such approach is co-disposal, where rock and tailings are disposed of in the same physical area, providing a semi-dry and stable system that optimizes space utilization. We are implementing these in various projects, assessing trade-offs, and addressing concerns related to initiation, conversion processes, safety, and stability. These technically intriguing solutions are now being presented to clients in Peru.

What is Stantec’s strategy for exploring business opportunities in Latin America?

We aim to continue growing and expanding our services to more clients, which will always be a priority in Peru and Chile. In Argentina, we remain in a wait-and-see mode, anticipating economic stabilization, which we now hope will occur by the end of the 2024. Once stability is achieved, we plan to explore opportunities there and in other countries in Latin America to leverage our existing knowledge and expand our regional presence.