BHP Seeks to Expand Presence in Peru
BHP (BHP.AX) is keen to expand its presence in Peru by venturing into new projects. The global miner is a part-owner of one of the largest copper mines in this South American country.
According to Rag Udd, the company’s head in the Americas, BHP wants to further boost its presence in Peru which is the world’s second-largest producer of copper, by exploring new projects aside from the mine that they already co-own i.e. Antamina. BHP has a 33.75% stake in this copper mine.
Speaking at the Perumin mining conference, Udd further stated that the mining company will invest $12 million in exploration in the next 10 months and that they were evaluating six possible projects. These projects include Ancash, Apurimac, Arequipa, Ayacucho, Cusco, and Huancavelica.
He also mentioned that despite the prices of copper going down in recent months, he is still optimistic about the future demand for this metal amidst the shift towards green energy.
“Peru has all the potential to grasp that opportunity and unleash a new positive cycle,” Udd said, adding that Peru has maintained “stable” macroeconomic fundamentals in recent years.
“If we want to increase copper production while meeting the rising expectations of society, we are going to need to partner much more closely with governments, communities, and others to ensure that we are as efficient and productive as possible,” he remarked..
Udd added that the country’s mining agency had given the company the initial approval to start drilling in Jatum Orcco in Huancavelica recently.
Mining in this South American country has faced a number of issues in recent years as communities near mining projects have tried to block projects and even attempted shutdowns.
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Udd stated that he is familiar with the challenges that the industry faces in Peru and reiterated that miners should be given the right conditions to flourish. He stressed that these include but are not limited to fiscal stability, legal certainty for stable business conditions, and distinct pathways to permitting.
For instance, the Chinese-owned MMG has faced many troubles recently as its Las Bambas mine has been subject to blockades, shutdowns, and other problems.
Edgardo Oderique, the General Manager at Perumin, Las Bambas said that they are looking at doubling the production at the mine while considering acquiring other companies to increase their productivity. The Chinese-owned mining company is set to put in over $2 billion in the next five years to increase production. In April 2022, MMG’s Las Bambas suspended its operations due to blockades and protests.
BHP, Rio Tinto and Vale Team Up to Establish Mining Task Force within CharIN
BHP along with Rio Tinto and Vale is establishing a Mining Task Force within CharIN which is supported by the International Council on Mining and Metals (ICMM).
The three mining giants said that the future of electric mine haul trucks is a step closer to becoming a reality with global mining companies and manufacturers working together on interoperability standards in order to decarbonize haul truck fleets.
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CharIN has over 280 members dedicated to promoting interoperability based on the Combined Charging System (CCS) as the global standard for charging different types of vehicles.
With the interoperability model now developed by way of the co-designing process led by GHD, a professional service company, the new task force sees an opportunity for the industry to lead, address interoperability barriers, and work towards standardization.
The new task force builds on the success of the Charge On Innovation Challenge, together with founding sponsors, manufacturers, and GHD to build the interoperability of haul truck electrification solutions.
Peter Wan, Co-Chair of ICMM’s Initiative for Cleaner Safer Vehicles Greenhouse Gas working group and Manager, Mobile Fleet Decarbonization, Teck Resources said, “For us to be able to drive this forward, we need to be able to engage with all of the mining industry, from mining companies to OEMs and technology suppliers, to advance and enhance the existing standard”.
With decarbonization in mind, mining companies and manufacturers have voiced their most pressing needs and objectives for an interoperable future.
“Developing interoperability standards is critical to continuous innovation that will enable increased efficiency, reduce costs, improve safety and promote the quality use of the electric haul trucks,” said Iain Curran, Practice Lead, Global Fleet Decarbonisation, BHP.
“The standards are in line with some of the main challenges that drive BHP as a company – innovation and development of capabilities for the future of mining that will make a meaningful contribution towards the mining industry in meeting its decarbonisation goals.”
“CharIN fully supports the task force mining as it is absolutely aligned with our activities promoting CCS (Combined Charging System) and MCS (Megawatt Charging System) as the global charging standards for all kinds of vehicles,” mentioned Claas Bracklo, Chairman of CharIN e.V. “Interoperability is the key to success, this has been proven during the last years on a passenger car, truck, and bus level.
Our alliance is happy to offer the umbrella, where market players convene for dialogue and exchange to prepare the requirements for common standards. A great example of CharIN’s global scope on charging, including marine, aviation and now mining.”
Electrifying haul trucks with interoperable solutions needs sustainable industry-wide collaboration. BHP, Rio Tinto, and Vale – together with other members of CharIN – have set the target of having the task force fully set up by early 2023.
