Mining Spotlight: Latin America
Home to 6 of the 15 most valuable mining operations in the world, and as the leader in copper production over the last 30 years, Latin America takes the spotlight.
Mine sites are extremely harsh environments. In the deepest mines, temperatures can reach 131°F (55°C). Mines in remote locations carry a very high cost of failure if products fail to perform reliably. These products need to withstand the most extreme temperature conditions. Bad sealing and water entry are the main causes of failures, so it is essential that products consistently hold up to constant environmental stress.
Largest Producer of Mined Metals in Latin America
Of the 473,819,000,000 kwh of energy used in Brazil per year, 18,952,760,000 kwh is used in the Brazilian mining industry per year. Brazil is the third largest producer of iron ore with 364 million tons, with a projected additional 500 million tons over the next 5 years. As the world's biggest iron ore producer and the largest energy consumer in Brazil, Vale accounts for 4% of all of the energy consumed. Vale is planning to expand production by another 90 million tons a year. The projected output from Vale's Salobo copper mine expansion in 2014 is 200,000 tons a year.
Top Producer of Copper in Latin America
Chile is the number one producer of copper in Latin America, and produces 32% of all the world's copper. Exports of copper from Chile total $38.6 billion (USD), of the $45.3 billion (USD) of total mined exports. Chile is also the number two producer of mined metals in Latin America, and ranked first as the best Latin American mining investment. Twelve million tons of iron ore were produced by Compania Aceros del Pacifico in 2013, with 18 million tons of iron ore forecasted for 2016.
Second Largest Zinc Producer in Latin America
Mexico is the second largest zinc producer in Latin America – producing 630,000 tons, and is ranked fourth in terms of zinc reserves at 16 million tons. Ranked third as the best Latin American mining investmate climate, after Chile and Peru, Mexico outputs 15 million tons a year of iron ore from 4 main producers and more than 1000 small mines. Mexico has plans for 76% more capacity to the country’s 419,000 ton mine output in the next two years.
Ranked First in the World for Mineral Reserves
Peru has $2.2 billion (USD) in total mining revenue, with $55 billion (USD) invested in mining through 2016. 60% of all Peru's exports comes from mining production. Peru has 5-10 billion tons estimated iron ore resources, with planned expansion for increased production and iron ore expansion of an additional 60 million tons. Peru is ranked 2nd best Latin American mining investment climate, after Chile. Ranked third in the world’s zinc production, Peru produces 1.27 million tons. Ranked fourth in world’s copper production, Peru has planned projects that will double copper production by 2016.
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