The mining industry contributes 4 to 7% of global greenhouse gas emissions. Considering this hefty footprint, the pressure is now on companies to decarbonize.
But far from being daunted, South American mining companies are seizing the initiative and getting ready for a more sustainable future.
For our recent report, we surveyed 75 South American mining executives to uncover their concerns, find out their strategies, and look at the opportunities that decarbonization presents. The findings were very encouraging.
A positive approach to cleaner mining
Optimism about sustainability was generally high. A significant majority (69%) of representatives surveyed said they were excited about the potential for their industry to create cleaner ways of working.
They were also confident in their goals. 70% said they believe they will achieve their 2030 sustainability targets (compared to 67% globally), and 79% said they’re confident about meeting 2050 targets. This level of confidence is slightly above the global trend.
Technology’s role in decarbonization
Technology is one of the cornerstones of South America’s decarbonization strategy, with vehicle electrification standing out as a key focus.
The vast majority (91%) of our respondents considered electrification essential, or at least a key part of, their plans to reduce carbon emissions. And 72% identified electrification as having the greatest potential to enhance both efficiency and sustainability within their operations.
However, the approach extends beyond just electrifying fleets.
Notably, 72% of respondents also identified ventilation as a top solution for boosting both efficiency and sustainability. This combined strategy, addressing both energy consumption and the operational environment, shows a clear intent on improving environmental performance across the region.
Hearteningly, many South American companies are already using technology to move towards sustainability. Antofagasta Minerals is working with ABB to accelerate its decarbonization initiatives by electrifying and automating its operations They will implement the first eMine™ Trolley System in South America. And another mining company, state-owned Codelco, is digitalizing, automating, and electrifying its sites to decarbonize.
Invest in people, invest in success
Technology is a tool, but it is people who make it work. Indeed, investing in people ensures a business has the expertise it needs.
This sentiment is not lost on South American mining leaders; 72% of our respondents recognize the critical role of reskilling and training. It seems executives know it's people who drive change, and people who keep a mine running, day in and day out.
A need for collaboration
Driving meaningful change in business is rarely straightforward, and very rarely achieved independently. Diverse expertise, unique skills, and specialized knowledge all need to come together.
In South American mining, the collaborative approach is increasingly common. In fact, 69% of respondents agreed that expert integrators or technical suppliers will become crucial in helping them move forward and connect disparate parts of the operation.
This forward-thinking mindset is important. Outside experts can bring a more holistic understanding of the mining ecosystem – and ensure the decarbonization journey is as seamless as possible.
Mining’s moment is here
South America’s mining industry is not only changing but is doing so with optimism. Transformation is underway; now is the time to act.
