Chile Eyes Strategic Metals With Innovative Mining Waste Projects



Finimize Newsroom
about 18 hours ago •


What’s going on here?

Chile's development agency Corfo is inviting innovative projects to extract cobalt and rare earths from mining waste, offering $3 million to $4 million per project over three years to address rising global energy needs.


What does this mean?

As the world shifts towards renewable energy, the demand for strategic metals like cobalt and rare earths is skyrocketing. These metals are essential for making batteries and renewable tech. Chile, the world’s leading copper producer, sees an economic chance in utilizing its 800 mining waste deposits, known as tailings. Currently focused on copper extraction from this waste, Chile is aiming to develop cobalt extraction technologies. By offering substantial funding for these projects, Corfo is tackling waste management while eyeing economic growth. The upcoming regulatory updates from the Mining Ministry in March further emphasize Chile’s dedication to maximizing its mineral resources.

Why should I care?

Chile's extraction projects could significantly influence the supply and pricing of cobalt and rare earths, which are vital for the tech and renewable sectors. Investors should monitor technological advancements and any shifts in market leaders as Chile emerges as a potential key player in these metals.

The bigger picture: Energy transition's silent partners.

The initiative to extract strategic minerals from mining waste underscores a wider move towards sustainable resource management. As major economies transition to renewables, efficiently utilizing resources like mining waste could dictate future global trade policies and economic strategies, ensuring countries achieve their energy goals sustainably.