PUBLICATION

Global Business Reports

AUTHORS

Imara Salas, Meredith Veit, Kevin Norchi

Chile Mining 2018 Expomin Official Investment Guide

March 21, 2018

As a country whose economy has historically depended on mining and whose national budget is pegged to the price of copper of which the country caters for 30% of global supply, Chile serves as a microcosmic representation of the mining industry at large and suffered correspondingly during the recent downturn. Now, as commodity prices continue to recover, so will Chile’s mining industry. The combination of expected infrastructure projects in the United States, China and India, and the world’s transition from fossil fuels to electric vehicles and lithium ion batteries indicates that Chile’s natural resources will play a more critical role than ever. Global Business Reports explores how Chile’s miners have learned from the past and are implementing new technologies and strategies to ensure a more sustainable future.

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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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