What potential do you see for mining development in South America and where do you see the big investment?
South America is a mining power but it still has a lot of growth potential because it has the key metals that will help address two fundamental issues in the world today: the energy transition and electromobility.
According to the Peruvian Ministry of Energy and Mines, the mining project portfolio requires an investment of US$54 billion. For its part, the Chilean Copper Commission projects an investment portfolio of US$65 billion from 2023 to 2032. Along the same lines, the Brazilian Mining Institute has presented an investment portfolio of US$64 billion in mining projects between 2024 and 2028.
In addition, South America's mining potential continues to grow thanks to new mining projects in countries such as Ecuador, Colombia and Argentina. The region is poised to meet the global demand for critical minerals.
What are the biggest barriers to development and how can our clients manage that risk?
The main barriers are those inherent to the development of a mining project. From discovery to start-up, we are talking about a long and complex process that, in some cases, can take more than 20 years, and mining projects are impacted by social and political issues that affect their development.
It is important for mining companies to have the support of expert partners to face the challenges they will encounter over the lifespan of their projects, experts in social and environmental issues as well as technical aspects. Considering that the lifecycle of a mining project will demand the integration and participation of various high-level professional contributions, it is essential that mining companies have the support of experts with experience in large scale projects and who also understand local issues and community requirements that ultimately affect the success and timely development of these projects.
In an era of inflation volatility and supply chain risks, how can Ausenco provide capital efficiency?
The best strategy is to develop a design that is as efficient as possible using less material, less steel, less concrete, to ensure that a project impacts the environment as little as possible in its execution and operation.
In addition to engineering, expertise in the areas of procurement and contract management is required to progress a project successfully to the execution phase.
What factors will shape the future of decarbonization in the region?
The region will continue to advance the decarbonization goals set by both companies and countries. In this sense, a fundamental objective will be growth in the consumption of renewable energy to advance and accelerate the energy transition in the region.
For the mining sector, it is important to highlight the commitment of mining companies to decarbonization. In some cases, this is reflected in ambitious goals such as complete decarbonization. On this point, Ausenco is collaborating by measuring the impact of the carbon footprint of our projects.
Our designs have always been efficient, and we are always striving to lower a project’s carbon footprint where possible. In addition to our efficient design approach, we are also now measuring impact, demonstrating that additional benefit both in the construction phase and in the operation phase. We see this as a substantial benefit and one that is increasingly valuable in the industry.
What is Ausenco's approach to further its position as a strategic partner for its customers?
Our focus has not changed and has actually become stronger over the years - we continue to generate value in everything we do. This is essential to sustain a long-term relationship as strategic partners for our customers.
As an organization, we place high value on the relationships we have with our customers. We care about their business and our people, and strive to build a solid foundation for any future challenges.