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.
Working with local partners can be a highly cost-effective way to enter a new market, especially in complex regions like Latin America. However, it also comes with inherent risks—particularly for foreign companies unfamiliar with the local business landscape. Learn from our best practices to maximize sales in Latin America.
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.
When I first set foot in Latin America over a decade ago, I was mesmerized. The region’s vibrant culture, dynamic markets, and immense business potential captivated me. Yet, while companies were eager to enter the region, I was surprised by how many failed. They struggled to navigate an unfamiliar business environment, often stumbling over their own missteps while overlooking critical legal, commercial, and cultural differences.
Today, the mining industry is experiencing a rapid digital transformation, where nearly every product and service supplied to mines incorporates a substantial technological element. For suppliers, this shift underscores the importance of carefully managing intellectual property when contracting with mining clients.
While many mining companies are advancing with the easier, more accessible opportunities for reducing emissions, the challenge becomes significantly more complex when considering the entire mining value chain. Scope 3 emissions are just starting to receive more attention from mining companies. It is by the far the hardest to reduce because these emissions stem from services and products provided by their suppliers.
While many business executives understand the basics of how AI works, there is still a gap in knowledge that make it difficult subject to discuss in detail. AI’s rise means more than just keeping pace with technological advances; it’s about understanding the foundational concepts and principles that underpin these systems. These technical aspects – once the domain of data scientists and engineers – now intersect with law, ethics, and business strategy.
Santiago
Sydney
Lima