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    The world is on the way to replacing oil with clean energies that reduce CO2 emissions.


    September 28, 2022 - CE Noticias Financieras

     

      The earth is threatened by greenhouse gas emissions. The mining industry is one of the first to propose a change of matrix. Replacing fossil fuels (oil and gas) with renewable energies.

      Ricardo Tejada is an employee of ABB, a company dedicated to replacing diesel trucks with electric ones.

      Not only does the company save a lot of money, but the environment wins. It is estimated that one of these heavy-duty vehicles emits 198,000 tons of carbon dioxide per year. Without these emissions, 3,000 cubic meters of permafrost that thaws every year due to global warming would be saved.

      Several of the talks at Perumin were aligned along these lines. British analyst Julian Kettle of Wood Mackenzie expects China to increase its share of sales of these vehicles from 3% in 2020 to 30% in 2040.

      Mining will not be the only industry to switch to renewable energy. Other productive activities will do so essentially to save costs and be competitive.

      The generation, transmission, storage and use of low-carbon energy cannot be achieved without metals.

      And that is another golden opportunity for mining. Manufacturing an electric vehicle fleet demands a lot of copper. There will be more demand for this mineral.

      The price could exceed the US$4 barrier. That means more income for the State, an increase in the gross domestic product, employment and linkage with other services. "We are on the verge of a new metals boom, do not miss the opportunity," said Julian Kettle during his talk.

      Sweden's Deputy Minister for Foreign Trade and Nordic Affairs, Krister Nilsson, gave an account of many exceptional figures and where Peru could be part of the party.

      The demand for metals due to the energy transition will imply a 500% increase in investment. This is estimated at US$1.7 billion. To meet this energy transition, 3,000 million tons of minerals are required.

      For Julian Kettle, investments must be accelerated aggressively. The world will need copper, cobalt, nickel and other metals necessary for the change of matrix.

      In this sense, the CEO of Antofagasta Minerals, Iván Arriagada, requested that in order to attract investments to mining countries, a competitive tax framework, public-private consensus and clear rules with a long-term perspective are required.

      Peru has a US$53,000 million project portfolio, several of which cannot crystallize due to social conflicts and community opposition in the areas of influence. All specialists agree that the social component is key.

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