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.
Brian Pajares, a leader in mining technological innovation, and the current Innovation Project Coordinator at Buenaventura, provides insight into existing opportunities in the Peruvian mining industry and new trends in technology.
5G will bring new opportunities for mining companies. Mining technology companies will benefit as they will be able to provide new technologies that will further automate operations creating safer and more efficient mines.
Gold projects in Latin America continue to advance. There are 6 mega projects in the pipeline with a capex of at least USD$1B and have a potential output totaling around 3.3Moz/y
Peru has a large project pipeline of mining projects totaling approx. USD$58bn and should be the focus market for mining suppliers due to the fact that the local miners are open to new technologies and it is still relatively open in terms of competition compared to Chile.
Chile’s energy ministry has unveiled a national green hydrogen strategy that aims to turn the country into a world-class producer and exporter by 2040.
Incorporating a local company is an important step for companies who are serious about servicing the Chilean market. The issue is that many foreign companies do not know the intricacies of the process in Chile.
Santiago
Sydney
Lima