The Latin American Energy Organization (OLADE) has published research demonstrating the unique contribution of Latin America and the Caribbean to the global market for critical minerals.
The region contributes around 180 billion dollars, 25 percent of the global market of 700 billion dollars. The main minerals include copper (70 billion dollars), iron ore (50 billion dollars), gold (30 billion dollars), and silver (10 billion dollars).
Latin America and the Caribbean are tasked with doubling copper production and recycling efforts, anticipating the need to decarbonize the economy by 2050. Studies have shown that 20% of refined copper is produced through recycling, saving up to 80% of energy compared to mining energy. Regarding lithium, the region possesses almost 60% of resources, and production is expected to increase at least tenfold in the next 20 years.
As global demand for minerals for sustainable technologies and renewable energies rises, this study highlights the importance of anticipating this demand to avoid imbalances in supply. As a strategic mineral exporter, Latin America and the Caribbean face unique challenges and seek to improve their socio-economic situation through investment and sustainable economic growth.
In a global context that prioritizes sustainable energy and clean mobility, Latin America and the Caribbean have the potential to gradually advance in production chains through extractive resources. OLADE emphasizes the urgent need to coordinate global energy demand forecasts and create a common agenda for the extraction of strategic minerals to promote the region’s socio-economic development.
Access the video and presentation:
Link: https://nubeolade.olade.org/index.php/s/sPQ2yQz4aQqqHWj
Communications and Institutional
Relations Department
josefa.corral@olade.org
