PUBLICATION
POWER
Peru Power 2010 POWER Release
March 11, 2010
At the same time as Peru struggles to extend transmission and distribution lines to all of its people, its neighbors are eager to buy electricity. And although gas has been fueling many of the most recent additions to Peru’s power generation fleet, the future appears brighter for traditional hydro and wind power. Setting priorities will be important in a country that has suffered from a lack of long-term planning.
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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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