The world is more connected than ever, and mining technology and service companies are no exception. As they expand their reach globally, they need to follow their clients to new markets, from a copper mine high in the Andes to the icey cold winters of Northern Canada. When exploring new markets, it’s the classic “chicken or egg” dilemma: You want to see success before committing to the expenses of a local operation, but as soon as you start generating revenue, the risk of being classified as a PE increases.
As one of the world’s leading copper producers and a major agricultural hub, Chile’s economy is deeply intertwined with its natural resources. The change in climate has far-reaching impacts on various industries that are crucial to Chile’s economy. As climate change progresses, these industries must navigate the challenges posed by changing precipitation patterns, rising temperatures, and more frequent extreme weather events.
It is common for industrial technology and service companies to send foreign staff to Chile to assist with projects whether that be for commissioning, supervision, or technical know-how. It is important for companies to understand whether a work visa or simply a work permit is needed.
The Chilean mining industry has been rapidly moving towards renewable energy sources. It was not long ago that the country was facing significantly higher energy prices then its neighbours with many experts warning of dire consequences if something was not done. Last week, the Copper Commission (Cochilco) released their new report, which outlines the projected energy usage for the Chilean mining industry between 2023 and 2034.
Mining is one of the main drivers of the Chilean economy, and water scarcity is a risk for both existing operations and new mines that will need to be built. The Copper Commission (Cochilco) has been studying water usage in the industry for the last few years. Last week they released their new report, which outlines their projected water usage for the Chilean mining industry between 2023 and 2034.
A great oppportunity for technology and service providers. Antofagasta Minerals has been very bold with deploying technology which are focused on electrifying its mines, automating its equipment, and using sensors and software to improve the various mining processes. Now, Minera los Pelambres, has launched a “Technologies for Competitiveness” challenge, which sets out to search for the latest technologies that will increase productivity levels in all its processes.
Working with local partners can be a cost-effective way of entering a new market but it also carries risk for foreign companies. It is important to take your time to find the right partner and then support them properly to maximize their efforts. Check out our advice.
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