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Opportunities for mineral exploration has resulted in exponential growth of mining investment in Latin America. This is expected to support the PPE industry growth in upcoming years
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Latin America is a major producer of base and ferrous metals, particularly copper and iron ore. The major mining countries in Latin America are Chile, Argentina, Bolivia, Brazil, and Peru.
Brazil is one of the leading producers of iron ore, bauxite, alumina, aluminum, niobium, nickel, and zinc.
Resource nationalism prevails strongly in Latin America, with mining nationalization in Bolivia, a ban of open pit mining in Argentina, and gold nationalization in Venezuela. However, Latin America ranks the highest in foreign investment in the global mining industry, due to the vast untapped resources in the region.
Mining is one of the private segments with the most significant investments in the region, and this strengthens the region’s outlook for growth.
Latin America is expected to be one of the most promising mining sectors in the forecast period
According to Data published by United States Geological Survey (USGS), Latin America continues to be the top destination for mineral exploration. Around 57% of mineral deposits explored in Latin America contained gold and silver and approximately 22% contained base metals. Rising exploration activities are expected to support the mining PPE industry growth during the forecast period.
There has been a rising demand for lithium predominantly for manufacturing lithium iron batteries FOR in electric vehicles. Increasing focus of major investors to explore lithium especially in Argentina, Chile and Bolivia ( “The lithium triangle”) is expected to propel the demand for PPE.
Data published by USGS and Geological mining service of Argentina states that in 2017, around 30 companies undertook lithium exploration activities in the region and over 50 lithium exploration projects are active in Argentina.
Progressive mining policies such as formalizing informal miners and distributing royalties earned from mining to local communities coupled with abundant availability of natural resources are likely to be the growth factors for mining industry in the region.
The region has also witnessed increasing investment from China. Report published by Strategic Dialogue on Sustainable Raw Materials for Europe (STRADE), states that between 2011-2017, Chinese companies invested around $ 4.5 billion in merger and acquisition activities in the region in comparison to $ 1.3 billion in 2004-2010. In order to sustain growth in energy and construction, China needs copper. It also requires iron ore as China is the largest producer of steel. This further makes Latin America an attractive investment destination for China. These factors in turn support a robust growth for the PPE revenues during the forecast period.
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