PUBLICATION

Engineering & Mining Journal

AUTHORS

Lucrezia Falcidia, Jason Spizer, Mariolga Guyon

Chile Mining 2020 E&MJ Release

February 07, 2020

Chile, long considered a stalwart of stability in the Latin American region, experienced an unusually tumultuous 2019. An eruption of civil unrest and mass protests over the country’s high rate of inequality and the rising cost of living raised questions regarding the stability of the country and its most important industry. Despite the headlines, Chile’s miners continue to invest in large brownfield expansions and to a lesser extent, greenfield projects, in hopes of tapping the country’s vast geological potential for decades to come. Demand for the red metal is projected to grow significantly over the next decade and therein lies the opportunity for Chile to once again lean on its trusted industry to bolster its economy. Across the value chain both local and global companies are eager to deploy the latest technology and cutting edge engineering approaches to capitalize on the wealth opportunities in everything from lithium, copper and gold.

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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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