Latin America has critical minerals for energy transition

Quito, Jan 25 (Prensa Latina) The Chair of the Latin American Energy Organization (OLADE) Andres Rebolledo highlighted the contribution made nowadays by regional countries to a global energy transition with the known critical minerals.

January 25, 2024
16:33

Rebolledo presented the results of a recent research of OLADE that shows how nations of this geographic area contribute around USD$180 billion to the global market on account of the main minerals (copper, iron, gold and silver).

For OLADE, Latin America and the Caribbean have the task of doubling copper production and recycling efforts, due to the need to decarbonize the economy by 2050.

According to the study, 20% of refined copper is produced by recycling, which saves up to 80% of energy compared to mining.

As for lithium, the Latin American region possesses almost 60% of this resource; thus, production is expected to go up at least tenfold over the next 20 years in view of the growing global demand for minerals for sustainable technologies.

In a global context that prioritizes sustainable energy and clean mobility, Latin America and the Caribbean has the potential to gradually advance in production chains through extractive resources, the head of OLADE noted.

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