If the mining industry does not act quickly to increase its production, the prospects of energy transition will be at risk, warned the vice president of Grupo México, Xavier García de Quevedoduring the conference “The Future of Mining and the Role of Sustainability (ESG)”.
In the event organized by the Mexico District of the Association of Mining Engineers, Metallurgists and Geologists of Mexico (AIMMGM), the Grupo México executive indicated that mining plays a fundamental role in underpinning the global transition to clean energy.
Accompanied by Efrain Alva Childhead of the Extractive Activities Coordination Unit of the Ministry of Economy, Xavier García de Quevedo explained that the energy transition and the race towards zero emissions are increasing the demand for critical metals such as lithium, nickel, cobalt, manganese and graphite for battery manufacturing.
Copper, aluminum and zinc are essential for the transmission and distribution of alternate energies; silicon, zinc and rare earths for the generation of wind and solar energy, he detailed, pointing out that the future for mining is uncertain.
In this context, he believed that the supply of these minerals will not be sufficient to cover demand in the short term since, by 2030, clean energy (solar and wind), batteries and electric cars will demand more than 5 million tons of copperwith which a deficit of 8.1 million tons of this mineral is expected.
In the presence of the general director of the Mining Chamber of Mexico, Karen Flores Arredondo, also an active member of the AIMMGM, indicated that the investments that would be required in the next 10 years to cover the deficit in the demand for that mineral are estimated at 150 billion dollars.
The speaker pointed out that, additionally, there is a significant lack of investment in critical metals, which will exacerbate the imbalance between supply and demand in the short and medium terms.
He said that, according to the International Energy Agency, the annual demand for critical metals for clean energy and electric vehicles will exceed 400 billion dollars in 2050which is why he insisted that the world will reach zero emissions goals only if the mining industry substantially increases its production.
The times to obtain environmental permits, the acquisition of land, the solution of social conflicts, community development, human capital and water resources are essential for the future development of mining, said the expert who last month received a Gold medal from the Mexican Union of Engineering Associations (UMAI), as an award for “Excellence in Engineering 2022”, in the Operation/Management category.
The face-to-face and digitally transmitted conference was also attended by the Vice President of Relations with Governments and Associations, Andrés Robles Osollo, on behalf of Luis Humberto Vázquez, president of the AIMMGM.
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