Cochilco expects that the energy demand from the copper mining sector will increase by 53, 3% in 2026.
Last week, the main Chilean copper organization presented an official report at the Adolfo Ibáñez University, where they shared their predictions on the copper industry trends for the next 10 years. Based on their presentation, copper mines in Chile will be using around 34.1 terawatt-hour in 2026, which will require an update in the electric generation capacity up to 1717 MW between 2016 and 2026.
Cochilco Executive VP Sergio Hernandez, who will be participating in the upcoming Energy and Mines Santiago Summit May 17-18, highlighted that mining companies will demand more energy in the near future because of the structural challenges that the sector is facing, including mines’ aging, the mineral hardening trend and the fall of copper laws. The presentation stated that energy represents over the 8% of operational cost of red metal producers and the organization predicts an even bigger impact in the next years.
In this context and with several favourable conditions for their development, renewable energy becomes a key, strategic saving alternative to power Chilean mines.
“Mining companies understand the strategic role of energy in their development plans. All the process require a big use of energy that impacts their operational cost,” said Aurora Williams, Chilean Mining Ministry, who also attended the presentation.
Williams also emphasize the need of diversity, efficiency and innovation, three key aspects where renewable energy can play a critical role.