Chile’s New Initiative to Exploit Tailings for Strategic Minerals

The call for proposals, which remains open until March, reflects Chile’s ongoing initiative to leverage its extensive tailings resources, estimated at nearly 800 sites nationwide.

Rising Demand for Essential Minerals

This effort coincides with an anticipated increase in the global demand for metals, particularly those vital for the energy transition. Commodities such as lithium and cobalt, key components in electric vehicle batteries, alongside rare earth elements necessary for renewable energy technologies, are driving this demand.

Chilean Mining Minister Discusses Economic Opportunities

“These are strategic minerals, especially cobalt and rare earths, where we have great potential,” stated Mining Minister Aurora Williams during the event. She noted that older tailings, previously dismissed, have become significant economic assets in today’s market.

Regulatory Reforms on the Horizon

Williams also revealed plans for modernizing regulations related to the construction, management, and repurposing of tailings, with new reforms expected to be introduced in March. The aim is for Chile, the world’s leading copper producer, to sustainably utilize its underexploited mineral resources.

Focus on Innovation in Cobalt Extraction

Fernando Hentzschel, head of Technological Capabilities at Corfo, emphasized the agency’s commitment to promoting innovation in extraction processes. “We’re looking for triggers for technological development,” Hentzschel said, mentioning the existing small-scale technologies for cobalt extraction. “We are looking to scale up these types of technologies.”

Current Extraction Efforts and Future Potential

While Chile has made some progress in extracting copper from mining waste, the recovery of cobalt and rare earth elements remains largely undeveloped.

A Sustainable Approach to Mining

This initiative is part of a broader movement in Chile’s mining sector to enhance resource efficiency while tackling the environmental issues posed by tailings.

(With files from Reuters)