Gustavo Bravo

"We seek to be a mining industry that people want in their countries even if our products were not critical. An industry that adds as much value in “how” it operates as in “what” we produce. The type of industry that builds nations and generates prosperity through our operations and the way we partner with key players." An extract from my column in CESCO where I make the case that although our products are critical, we must produce them as if they were not. Not everything translated perfectly between English and Spanish, but hopefully the gist comes through! #mining #sustainability

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Positive impact of #mining in #Ecuador Mining in Ecuador has a significant positive impact on local development and the future of the country. According to data from the Ministry of Energy and Non-Renewable Natural Resources, the mining industry generated more than 50,000 direct jobs and around 200,000 indirect jobs in 2020. In addition, it provides important tax revenues to the government, contributing significantly to the national budget, as highlighted by World Bank reports. Investment in mining infrastructure improves connectivity and access to services in previously marginalized areas, according to the Inter-American Development Bank. The presence of mining also stimulates the growth of other industries and fosters the transfer of technology and knowledge to the local level, as shown in a study by the Universidad Andina Simón Bolívar. However, it is crucial to address the environmental, social and human rights challenges associated with mining, ensuring its development in a responsible and transparent manner.

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𝗖𝗵𝗶𝗻𝗮’𝘀 $𝟴.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗶𝗻 𝘀𝘁𝗲𝗲𝗹 𝘀𝗽𝘂𝗿𝘀 𝗟𝗮𝘁𝗶𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝘁𝗼𝘄𝗮𝗿𝗱 𝘁𝗮𝗿𝗶𝗳𝗳𝘀 by James Attwood, Mariana Durão, Andrea Jaramillo;  Bloomberg via American Journal of Transportation (AJOT). One after another, #LatinAmerican #nations are following in the #footsteps of the #US and #Europe by imposing prohibitive #tariffs on #Chinese imports — a strain in what’s been an otherwise cozy relationship. #Mexico, #Chile and #Brazil have hiked — and in some cases more than doubled — duties on #steel #products from #China over the past several weeks. #Colombia may be about to follow suit. The levies may seem out of turn, given how the Asian superpower has entrenched itself in Latin America in recent years. China has become the biggest #buyer of #rawmaterials from the #region and a major #investor. At the same time, Latin America has given China another market to sell its goods as it faces stiff US and European tariffs. It’s sending nearly 10 million tons of steel a year, valued at $8.5 billion, to Latin America — a huge jump from a mere 80,500 tons in 2000, according to regional steel association Alacero, Asociación Latinoamericana del Acero. Now, that #relationship is being tested by a global turn toward #protectionism, and a flood of Chinese #imports that threatens to put Latin American steel #producers out of #business and #risk a combined 1.4 million #jobs. “This is an important test of China’s #interests and #intentions,” said Margaret Myers, director of the Asia and Latin America Program at the Inter-American Dialogue. It’s also a “test of Latin American resolve in challenging what is a critical economic partner.” #Brazil will soon introduce a tariff-rate #quota #system to stop predatory #pricing of imported alloy. While the official #announcement didn’t mention China, last year’s 62% surge in Chinese #shipments to 2.9 million tons is behind the measure, said people briefed on the matter. The article link is here:

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🇵🇪 The Tía María Copper mining project, located in Peru, with an investment of $1.4 billion, has confirmed that it is ready to start construction. According to recent statements, the company has worked hard to advance on social issues and has achieved good results. "We have worked very hard to advance on social issues. The company has achieved good results, and we are seeing a certain tranquillity in the environment as we carry out our activities. We aim for Tía María to start operating in 2027 and we are continuing to move forward to begin construction," mentioned Raúl Jacob Ruisánchez , Vice President of Finance of the company. This project is expected to produce 120,000 tons of copper per year, although this figure could be readjusted once construction begins. The start-up of Tía María by 2027 represents a significant advance in copper mining in Peru, highlighting the importance of social stability and community work for the success of such projects. Australia-Latin America Business Council (ALABC), CONAMIN Congreso Nacional de Minería, Austmine, Trade and Investment Queensland, Viki Forrest, Dante Omar Bailón Espinoza,Wilmer Ruiz

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🌎 So happy to share ... #Cemex tops industry In 2024 Climate and Energy Benchmark Monterrey, Mexico. May 7, 2024. Cemex has been recognized as the industry’s top-scoring company in the World Benchmarking Alliance’s 2024 Climate and Energy Benchmark. This recognition demonstrates Cemex’s commitment to transitioning to a lower-carbon cement industry, with the aim of becoming a net-zero CO2 company by 2050. The World Benchmarking Alliance (WBA) measured and ranked 91 of the world’s most influential aluminum, cement, and steel companies for the first time based on their emission targets and transition to a lower-carbon future. Cemex achieved the highest score in the overall cement ranking after the WBA assessed the company’s climate performance using industry specific Accelerate Climate Transition (ACT) methodologies, as well as social and just transition indicators. “We are proud to achieve the highest score in the 2024 Climate and Energy Benchmark ranking, demonstrating Cemex’s leadership in climate action and social impact,” said Fernando A. González, CEO of Cemex. "We are committed to achieving our ambitious 2030 decarbonization goals on the path to becoming a net-zero company by 2050 while making a positive and lasting difference in our communities.”  WBA develops transformative benchmarks that compare companies’ progress against the Paris Agreement and a just transition. The benchmarks are supported by available science while leveraging existing international norms. Since the launch of Cemex’s Future in Action program in 2020, the company has achieved record-breaking progress in decarbonization, reducing Scope 1 and 2 emissions by 13% and 10%, respectively, a pace that previously would have taken Cemex 15 years to accomplish. Future in Action focuses on achieving sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net zero CO2 company by 2050. You may access the complete ranking at the following link: https://lnkd.in/gE6E6WHA

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Codelco and SQM signed today the historic agreement for lithium in the Salar de Atacam Codelco and SQM seal an agreement to exploit lithium in the Salar de Atacama until 2060. May 31, 2024 Codelco and SQM finally signed the association agreement that will allow the public-private partnership for the production of refined lithium in the Salar de Atacama from 2025 to 2060. Through a statement, both companies announced that this link will become effective when all legal, regulatory, technical and environmental requirements are met, in addition to the respective indigenous consultation process. “Just as we have contributed to making Chile a world leader in copper production, we will now contribute to making our country a leader in the production of lithium, another critical mineral for the energy transition that allows us to combat the climate emergency,” said Máximo Pacheco, president of the board of directors of Codelco. Specifically, the agreement aims for a total additional production for the period 2025-2030 of 300 thousand tons of lithium carbonate equivalent (LCE). Meanwhile, for the interval 2031-2060, lithium production of 280 to 300 thousand tons per year is defined. Starting in 2031, the State will receive 85% of the operating margin of the new production through payments to Corfo, taxes and the profits that Codelco receives as a shareholder. “The association will have 100% of our infrastructure and plants, including the largest lithium product refining center in the world located in Antofagasta,” said Ricardo Ramos, general manager of SQM.

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📰 In a recent opinion column published in the latest edition of Minería Chilena, CRU Principal Consultant Francisco Acuña discusses a critical decision to be made by mining companies in the copper industry. The choice lies between prioritizing cost reductions and dividends for shareholders, versus pursuing growth through investments to expand capacity and develop new projects, possibly utilizing mergers and acquisitions in order to achieve this. 💵 This topic of discussion is particularly relevant considering BHP's recent bid for Anglo American, signaling a trend towards growth and M&A activities in the sector. #copper

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Promising lithium project in Chile

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This week I was invited to attend the presentation of the results of the “CEO Global Survey 2024 PwC”. The event was hosted by the American Societyof Mexico and led by Larry Rubin, MBA president and Dr. (HC) Patricia Gonzalez vice president. The study was presented by Ana Paula Jiménez, Managing Partner of PwC México with the participation of journalist Carlos Mota by adn40Mx The survey, which interviewed 4,702 CEOs across 105 countries and territories, from 2 October through 10 November 2023, found that 38% of CEOs are optimistic about global economic growth prospects over the next 12-months, up from 18% in 2023. The panel discussed the outcomes of the survey, highlighting the importance of reinventing business models and overcoming external challenges to capitalize on opportunities, highlighting the role of nearshoring and artificial intelligence in generating value. There was also a good discussion around talent. In an overall fluid scenario filled with uncertainty, focus and energy shifts and while CEOs are trying to control what they can control, many are thinking of how they can reinvent their business model. There is still a feeling of optimism and they remain confident in their company’s ability to respond to the unexpected, build trust and make decisions and investments in support of their values and goals. - It was revealed that 49% of Mexican CEOs are optimistic about their ability to generate revenue in the coming months, despite regulatory complexities. -It was acknowledged that, had the interviews happened after the elections in Mexico, the results might have been different in some of the questions. - Mexico 🇲🇽 was positioned as the tenth most attractive territory for the income expectations of global companies in 2024, being the only Latin American country in this top 10. 👏🏻 Main takeaways for Mexico: 1) Assess technology for reinvention. Identify and select AI and automation solutions aligned with strategic objectives. 2) Work to simplify processes! Boost bureaucratic efficiency, simplify in collaboration with the public sector, to improve efficiency and compliance. 3) Develop talent in technological skills to maximize the benefits of AI in labor productivity for the next three years. 4) Take advantage of nearshoring. Analyze opportunities that allow you to reinvent the business model to be competitive and deliver value. 5) Observe the panorama and develop a comprehensive business strategy that ensures the long-term growth of the company and adaptability to changes. It’s always valid to test one’s strategy against these findings, especially for those of us who are just starting their fiscal year. #ceoglobalsurvey2024 #ceoglobalsurvey #pwcceoglobalsurvey #ai #globalsurvey #americansocietyofmexico #economy #economicoutlook #future #aiinbusiness #businessstrategy #globalceosentiment #mexicoinvestmentsentiment #nearshoring #investmentinmexico

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Discover how, through good practices, we can improve the working environment and create shared value. Improving the working environment at the Teniente mine for CODELCO through a culture of recognition. In 2022, CODELCO found that its company culture needed improvements: recognition and awards were notably lacking. Thanks to our experience, we suggested to CODELCO the creation of a recognition platform, an internal tool that enables each employee to recognize and be recognized officially. We already had this type of platform, so we were able to present all its benefits: Improves the atmosphere at work. Enhances the assessment of the employees' positive attitudes. Acknowledges individuals who uphold the values of the company. With the implementation of the recognition platform, the number of recognitions surged by over 500% within the first few months. This significant shift has not only improved the work environment but also uplifted the employees' spirits, fostering a more positive and motivated workforce. At Enaex, we view our relationship with our customers as a partnership. Sharing our best practices with them is an honor. As we prioritize the value of life, we are proud to have supported CODELCO in promoting employee well-being through recognition initiatives. “Enaex's support was instrumental in the success of our project division as we were able to address employee requests, opinions, and concerns.” - Carolina Silva, GOBM Transformation Area at CODELCO. Enaex has maintained a recognition platform for 7 years, and in 2023, we had more than 90.000 positive messages. It has been a tremendous cultural artifact that reinforces our purpose of Humanizing Minning.

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Congrats Guy and Team as Cerro de Pasco Resources is Granted a Long-Awaited Land Easement for its Quiulacocha Project in Peru. My Summary from Guy`s latest interview: "It is the largest above-ground mineral resource, valued at $15 billion. In Cerro de Pasco, where 67,000 people reside at 4344 meters above sea level, mining is the primary industry. Historically, the mine employed 7,000; today it's just 500. Our project aims to revitalize the town by reintroducing mining with environmental and social benefits. The Quiulacocha Tailings Storage Facility at the site comprises processing residues from the Cerro de Pasco open pit and underground mine. Initially, these tailings resulted from mining over 16 million tonnes of copper-silver-gold mineralization with historical grades of up to 10% Cu, 4 g/t Au, and over 300 g/t Ag. Later, it came from the mining of more than 58 million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb, and 90.33 g/t Ag. The 2.2 billion-ton stockpile and tailings produce acid water daily due to precipitation. Our plan is to clean up this mess within 25 years and utilize the site to produce sulfuric acid, essential for local fertilizer production. This cleanup effort will also enable us to tap into the stockpile’s rich reserves, including 110 million ounces of silver, as well as significant amounts of gold, copper, and zinc. Our efforts are projected to bring significant economic contributions, including $30 million annually in income tax. With a conservative estimate, our activities based on current metal prices project an NPV of $1.35 billion. Despite a current market cap of $40 million, we expect this value to adjust with metal price fluctuations, given the diverse metals in the tailings. Originally mined in 1906, the site was nationalized in 1974. By 1999, metal prices plummeted, and big mining ceased, leaving the tailings neglected. We’re now planning to drill 40 holes using sonic drilling techniques, aiming to complete metallurgical testing by Q3 2024. This drilling will confirm the precise locations of the rich copper and gold layers, as well as silver and zinc. The tailings are diversified, which buffers against fluctuations in metal prices: when the price of one metal falls, another often compensates. With a clear path, we’re confident of realizing the mine’s potential, ensuring an eventful future for our investors and the local community." Read the full release: https://bit.ly/3QYNpgX $CDPR #silver #zinc Cerro de Pasco Resources Inc.

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What is the real cost of groundwater in an open pit mine? Or better put, what is the value? So grateful to have had the opportunity to collaborate with BHP and Adriana Sánchez Morán and Jaime Diaz where we explored this for none other than the world’s biggest copper mine (by production), Escondida. ✅ Impact on operating costs – from wet blasting to trucking wet ore ✅ Mine economic impact – flattening of slope angles and turning to lower grade stock feed In support of the embattled mine hydrogeologist, we also tacked value - water as an enabler! Not easy but can be done. ☑ The right approach ☑ A great team #findabetterway #minewatermanagement #minedewatering

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Heading to Gecamin Planning for Closure conference in Chile. Looking forward to learning more about this important subject and presenting my paper "Improving Mine Closure Estimates and Financial Provisions" on 08 May. #planningforclosure #mineclosure #turnerandtownsend

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Aclara Resources has filed a new Environmental Impact Assessment (EIA) for its Penco Module rare earths project in Chile, incorporating an improved technical design to address environmental and social concerns. The updated EIA follows an extensive review and incorporates feedback from over 1,000 local residents and stakeholders. Francois Motte, Chief Financial Officer at Aclara, highlighted that the revised EIA presents a 'smaller but more robust project' while maintaining positive aspects like fully recycled water sources, revegetation with native species, and the creation of over 2,000 direct and indirect jobs. 'Environmental stewardship remains at the core of Aclara,' Motte stated, noting the company's active efforts to protect vulnerable native species through conservation initiatives in the Biobio region and beyond. The next steps involve a technical assessment and public consultation process following the EIA submission. #RareEarths #Environment #Chile @aclararesources

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Dear Investors, I am thrilled to present to you an exceptional opportunity to participate in the development of the prospective copper deposit in Chile. This project transcends conventional mining operations and opens new frontiers for the implementation of cutting-edge, environmentally friendly technologies, scientific research, and innovation in the industry. The deposit holds immense potential and can rank among Chile's largest copper reserves. Geological data indicate a large-scale mineralized system associated with an intrusive complex, with high copper, gold, and silver grades in samples (up to 9.09% Cu, 10.15 g/t Au, 736 g/t Ag). Several promising mineralization types have been identified, including massive, disseminated, etc. Our goal is to establish a next-generation mining enterprise founded on principles of environmental responsibility, and the adoption of innovative technologies. We propose a unique approach to deposit development, encompassing: Application of chemical-free ore beneficiation methods: Gravitational gold recovery in the initial processing stages. Magnetic and eddy current separation to produce concentrates of different metals, minimizing tailings volumes. Utilization of tunneling complexes for high-precision excavation of mine workings without blasting, based on georadar data. This will ensure selective mining of richer zones and preserve the integrity of the massif. Starting with oxidized ores on the surface, gradually transitioning to sulfide ores at depth as the project progresses. Establishment of a research and development center at the deposit to develop and test new "green" ore processing technologies, reduce environmental impact. Implementation of professional training and upskilling programs for the local population, creating new jobs, and developing social infrastructure in the region. Our project is open to international collaboration and the attraction of leading experts, scientists, and engineers from around the globe. We welcome new ideas, scientific creativity, and revolutionary approaches that will help make the mining industry more environmentally friendly, safe, and efficient. At the initial stage, we are seeking investors willing to commit relatively small amounts (around $500,000) to an exploration drilling program and the preparation of a NI 43-101 compliant report. This will allow for a full assessment of the deposit's resources and significantly increase its value. Investors joining the project at this early stage will receive favorable terms of participation, including an enhanced stake in the project and the right of first refusal to purchase shares at a preferential price after the company's successful listing at TSX. We are firmly convinced that the deposit (54 square kilometers) has the potential to become one of the flagship projects in the mining industry, showcasing a new approach to mineral resource development with a focus on ecology, innovation, and sustainable development.

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How can the Latin American construction industry prepare for changing currents? Political instability, economic challenges and environmental impacts make for a complex landscape. To counteract these issues, digital technologies, including artificial intelligence, and government investment and incentives help support project viability and delivery. What other initiatives and trends are taking place to achieve an equitable and sustainable period of growth across the region? Find out in our latest report: https://lnkd.in/e8-p7DE7 #gleedsdigital #construction #sustainability

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Ohmium and H2 Green Mining have announced an agreement to decarbonize mining operations in Chile through the development of green hydrogen projects. This agreement ensures the delivery of a 20MW green hydrogen pilot project in northern Chile, with this potentially scaling-up to 200MW. Ohmium’s PEM (proton exchange membrane) electrolyzers will play a key role in producing hydrogen for the copper smelting process, thereby enabling the use of fossil-free energy. This shift to green hydrogen will contribute significantly to decarbonizing the power required for the smelting processes. Read the full article: https://lnkd.in/dr2JNJCd During this period of the energy transition, the pursuit of low emissions and high energy security-based projects is imperative. This year’s Gastech advocates for the transition towards the utilization of green hydrogen in existing applications, as seen in this pivotal project in Chile. Gastech 2024 will convene specialists and global CEOs at its exclusive Hydrogen Exhibition, fostering discussions on bolstering hydrogen’s role in the global energy mix. Book a delegate pass now via https://lnkd.in/eFMSzp4E #Gastech #Hydrogen #EnergyTransition #Decarbonisation 

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Very pleased to have supported Cascadero Copper in the production of the positive Preliminary Economic Assessment (PEA) for the Taron Cesium Project in Argentina. What's Cesium (Cs) I hear you ask - predominantly used for drilling fluids it does have further applications in electronics and chemistry. Also used in highly accurate atomic clocks. #wardellarmstrong #cascaderocopper #pea #cesium #argentina #mineralexploration #mining #feasiblitystudy https://lnkd.in/em4F_gy5

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