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.
The Chilean mining sector is considered as a model to the rest of Latin America. Since the pandemic, the USD$60B plus project pipeline has not advanced as fast as many would have hoped. With the recent uncertainty mostly over, there have been more announcements on new projects or investments. Check out our round-up of the latest news to see the most important updates from the last couple of months.
Peru has been an exciting market for equipment, technology, and service providers over the last few years. There are concerns about a lag in new projects due to community issues, slow permitting, and political unstability. We compiled announcements and updates that came from the speaking sessions that took place last week during Perumin 36.
Almost everything provided inside a mine these days by suppliers has a strong technological component as part of the offering. In many cases, the underlying technology is the only component. This is why suppliers need to take the proper steps to manage intellectual property when entering into contracts with clients.
Mining technology and service companies are looking at Peru for good reason. The country has a significant number of operational mines that are investing in new equipment and technology. As suppliers develop new opportunities in Peru, they will need to decide how they will service the market. Understanding the incorporation process and timeframes is an important part of the process.
Codelco’s title as the world’s largest copper producer is now in jeopardy with production dropping to the lowest level in 25 years. Codelco has several structural projects underway that are meant to boost copper production for the next 50 years but it has been plagued by delays. Check out our overview to understand the current state of Codelco.
Over the last few weeks there have been several new positive developments for the Ecuadorian mining market. Specifically, EcuaCorriente, plans to invest US$650mn-US$700mn to increase output of its already operating Mirador copper mine which will greatly increase Ecuador’s copper exports.
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