PUBLICATION
Brazil Power 2014
Brazil’s vast electricity market, the largest in Latin America, is the envy of the world with renewables contributing more than 80% of the country’s installed capacity of 121,823 megawatts (MW). Brazil is blessed with the third largest hydroelectric potential in the world, after China and Russia, and has put it to good use with hydropower contributing 85% of renewable electricity generation capacity.
As Brazil’s population continues to grow, the country will need to increase power generation every year by roughly 5 gigawatts. In order to meet growing demand for power, the government is expanding generation capacity through new renewable sources, such as wind and solar power, while at the same time diversifying away from hydro due to environmental concerns.
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It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.
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