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copper but electric vehicles need 83 kilos . Chile also have the capability to provide the lithium and cobalt required . We ’ re keen to promote this market to tackle environmental issues , combat global warming , and reduce greenhouse gases . It ’ s something Chile has long been fighting for ; after China , we have the most electric buses in service with 500 running in Santiago public transit system alone .”
But what challenges does Chile face to continue a positive evolution of its mining sector ? “ It ’ s complex ,” concedes Prokurica . “ As an example , for every reduction of one cent in the price of copper per pound that ’ s $ 150mn fewer exported and from that we also have to deduct taxes and earnings . And what ’ s happening right now is that the offer and the demand is stagnant . So , if all of the copper mines in the world were to stop production there would be enough copper for just four days . The international copper prices are being held down somewhat because of the trade dispute between the US and China . Goldman Sachs advise that if this were to end the price of copper would go up to about $ 3.50 . Meanwhile , the London
Stock Exchange has the least amount of copper stocks it has had since 2003 .”
Prokurica also notes the need to encourage the medium-scale mining industry with its unique challenges in terms of productivity and environmental and social sustainability . Our objective is to increase visibility of projects with geological potential that can generate added value and foster related businesses , while adhering to the social and environmental standards required ,” he says .
A commitment to digital transforma-
JULY 2019