SOURCE: Energy and Mines

Energy and Mines

December 17, 2014 11:00 ET

CEO of Codelco to Lead Discussions on Renewables for Mines in Chile

TORONTO, ON--(Marketwired - Dec 17, 2014) - The competitiveness and growth of Chilean mines is being seriously impacted by the country's high power prices. With energy accounting for 20-40% of operating costs, reducing electricity expenditure has become a major operational and strategic goal for the country's mines. In an attempt to secure stable energy at affordable prices, mines are actively seeking alternative energy sources.

Large renewables projects for major Chilean mines including Antofagasta and CAP have already been developed and others including Anglo American and BHP Billiton are considering renewables procurements. There is clearly a growing appetite in the Chilean mining sector for both grid-tied and off-grid renewables. However, there are also challenges around development, connection and finance of that can prevent projects from getting off the ground.

The role of renewables in solving mining energy challenges is gaining traction with the region's top mining CEOs. This is evidenced by the growing number of mining executives that are set to explore the use of renewables at a forthcoming Santiago Summit. Nelson Pizarro Contador, CEO of Codelco, and Fernando Reitich, President and CEO of CAP head the list of participating mines that also includes Anglo American, Antofagasta Minerals, Barrick Gold, Collahuasi, Goldcorp, Vale, Lumina Copper, Minera Pampa Camarones, Compañía Minera Constanza, Sociedad Contractual Minera Berta, Minera Rafaela, Mandalay Resources, Compañía Minera Cerro Bayo, Nyrstar, Volcan, Teck and Quiborax

"The objective of this Summit and the research we are doing into renewables for Chilean mines is to build connections between mining executives and renewable energy experts and provide critical information about the challenges and opportunities for collaboration," said Adrienne Baker, Director, Energy and Mines. Mining companies participating will have the opportunity to understand which renewable energy experts are already experienced in the Chilean market and renewables experts will gain critical insight into business opportunities with Chilean mines.

In January, Energy and Mines will be releasing a market brief on the evolving opportunities and challenges for renewables for Chilean mines including a detailed list of current projects in development or operation by local mines.

The Summit in May will showcase the very latest project case studies from Chilean mines integrating renewables and offer details on how mines are evolving their energy strategies in this market. Hatch is the Principal Sponsor of the event and SolarReserve is also sponsoring. "Chile is where we have seen the first utility-scale wind and solar projects for mines so it is a very exciting market to focus on," adds Baker. "There are more of these large-scale opportunities as well as plenty of potential for off-grid hybrid solutions for remote mines which makes Chile the ideal meeting center for mining and renewables."

For more information on the Summit, visit, http://energyandmines.com/chile

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