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 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.
As a follow up to the original hydrogen strategy, the government recently released its Green Hydrogen Action Plan which will help direct the industry from 2024 to 2030 – the time frame that Chile has set for itself to become a major hydrogen exporter by the end of the decade.
Argentina has taken a different approach to developing its lithium industry compared to its neighbours, which has it made it an investment destination. As the world’s fourth largest lithium producer, it is expected to triple its output in the near term as new projects are completed and they ramp up to their targets.
Brazil is an important mining market to suppliers. Over the last year, the project pipeline has grown considerably, a tax reform is being discussed by the government, and there has been interest from exploration companies in the countries hard rock lithium deposits. Check out our latest post outlining the most recent news.
Many technology and service companies are entering into Peru and winning new work. It is important for international companies to understand how contracts and specific clauses are dealt with in each country they are operating in. We have provided a brief guide of some of the most important clauses.
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