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.
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.
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.
A study was recently released that evaluates trends in the Chilean mining industry workforce between 2023 and 2032. The goal of the study is to support public policy and the industry to identify gaps in human talent, training, technological impact, and gender equity. The study reviews trends from past years and has important projections for the next 10 years.
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