Industries
Strategic role of the mining sector
The mining sector in Latin America and the Caribbean stands as a pillar of economic and social importance in the region. This importance is further amplified by the transition to renewable energy sources, the fight against climate change, and the growth of electromobility—factors that have driven up current and future demand for minerals. Elements such as lithium, graphite, cobalt, nickel, manganese, and rare earth elements are becoming fundamental in the context of clean technologies and renewable energy.
For example, electric vehicles require, on average, six times more minerals in kilograms than conventional natural gas vehicles, while photovoltaic solar energy requires more than eight times more minerals in tons than natural gas thermal energy.
Mineral production exhibits a marked geographic concentration, which breeds competition and geopolitical tensions. More than 50% of the extraction and processing of critical minerals is concentrated in a few countries, with China being the largest among them.
In 2021, the region recorded an approximate production of 1.2 billion metric tons of minerals, although this represented a decrease of 7.2% compared to the levels reported in 2018. Chile, Mexico and Peru lead the production of minerals such as copper, gold, silver and iron ore.
Growth and Demand until 2030
Demand for basic industrial products is expected to increase by 2030, due to the shift towards a greener energy mix.
This is projected to be the size of the global mining equipment market by 2030.
The supply of existing assets or committed projects will increase globally by 2030.
10 Strategic Challenges 2026
1
Alignment with ESG indicators
Although companies are strongly focused on climate change and decarbonization, they must consider holistically how they allocate their capital, ensuring that it reflects their ESG (Environmental, Social, and Governance) commitments. Building a strategically sound portfolio of businesses, initiatives, and projects with the potential to generate value and sustainability helps minimize risk and increases long-term shareholder value.
2
Decarbonization
Given the urgency of climate change, the transition to a low-carbon future is inevitable. Mining companies are adopting cleaner technologies, such as the electrification of equipment and the integration of renewable energies. An excellent example is Minera Centinela in Chile, which replaced diesel trucks with electric ones for transporting minerals, achieving a significant reduction in greenhouse gas emissions.
3
A push toward smart mining.
The mining sector is undergoing a significant transformation with the incorporation of innovative technologies, focusing on improving operational efficiency, worker safety, and environmental sustainability. The adoption of technologies such as robots, drones, autonomous vehicles, and electrical equipment is redefining industry standards.
4
Digital transformation and real-time data
Digitization is essential in modern mining, as it provides real-time data for strategic decisions. Artificial intelligence, data analytics, and automation optimize mining processes, improve productivity, and reduce costs. This real-time information helps companies anticipate and proactively respond to operational and environmental challenges.
5
Innovation and sustainability
The mining industry must increase the extraction of critical minerals without harming the environment. This offers an opportunity to explore high-risk regions with untapped potential. The Eurasian Resources Group has developed the NOMAD robot, which performs soil sampling more quickly and safely, with less environmental impact.
6
Mining automation
Digitization is fundamental in modern mining, providing real-time data for strategic decisions. Artificial intelligence, data analysis, and automation optimize processes, improve productivity, and reduce costs. This ability to obtain instant information allows companies to anticipate and proactively address operational and environmental challenges.
7
Data governance and artificial intelligence
Mining faces uncertainties that can affect projects, such as waste rock dilution. Good data governance is essential to ensure accurate information. Artificial intelligence and data analysis systems, such as MWD and machine learning, reduce uncertainty, optimize drilling, and improve monitoring of operations.
8
Equipment automation
The adoption of Autonomous Haulage Systems (AHS) and robotic technologies has improved safety and efficiency in mining operations.
A clear example is the company AMSA, which implements autonomous drills and trucks at the Pelambres mine, in addition to robotization projects in the maintenance of the SAG mill. These technologies reduce risks, increase productivity, and optimize operational processes.
9
Electric mobility
The adoption of autonomous electric vehicles in underground mining has advanced rapidly, mainly to reduce pollution caused by internal combustion equipment, achieving a 60% reduction in emissions and lower noise and vibration levels. Atlas Copco led this trend in 2017 with electric loaders, jumbos, drills, and trucks. Companies such as Caterpillar and Sandvik are also developing similar equipment to reduce pollution and carbon footprints.
10
Mining without water
Water scarcity due to climate change is driving the use of technologies such as dry stack tailings (DST) systems, which recover up to 95% of water and are competitive with desalination. Companies such as FLSmidth are seeking water-free solutions for 2030. In addition, automated irrigation systems and domes are used to control dust and manage water consumption.
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