Colombia always had the potential to become a major mining jurisdiction but the mining sector is now completely frozen. There is a high level of uncertainty due to the governments push to reform the mining code, create a state mining company, and new a environmental decree.
Mining technology and service companies looking at Latin America need to decide on the best way to service the region. One of the first decisions that companies need to make once they confirm a market has potential is whether they will work through partners or sell directly to the mines.
Southern Copper announced that the Tia Maria project is scheduled to start construction before or by early 2025, with operations expected to start in 2027. This is a big win for the Peruvian mining industry since the project has been the poster child for community opposition that the country has been dealing with over the last decade.
BHP’s bid to take over Anglo American is for the large part about increasing copper exposure. We take a deeper look at Anglo’s Latin American operations to understand how they play into BHP’s strategy to acquire more copper production.
The Peruvian Energy and Mines Ministry (Minem) recently released their updated forecasts on the project pipeline which now consists of 51 mining projects that include an investment of US$54.5 billion. We outline the new projects added to the list this year, as well as those that are projected to go into construction for 2024.
While Brazil has lots of opportunities for industrial technology and service companies, it also has some unique considerations compared to common law countries when contracting between parties. This is because there are several legal provisions that, if left undefined or unregulated in the contract, shall be applied regardless of the parties’ intentions.
Argentina’s mining industry is still under developed even though the country holds significant mineral resources. This is set to change over the next few years with a renewed focus by industry players and foreign investors who see the potential for world class copper deposits that could catapult Argentina onto the list of top 10 global producers by 2030.
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