Chile's Empresas Copec Explores Expansion in Green Hydrogen and Copper Mining
Key Ideas
- Empresas Copec, a major industrial group in Chile, is looking to expand its presence in green hydrogen projects, considering larger initiatives in this sector.
- The company is also focusing on renewable energy and alternative fuels, indicating a positive shift towards sustainability and clean energy.
- In addition to green hydrogen, Empresas Copec is interested in copper mining, particularly with the potential of electrification boosting the prospects for this metal.
- The company is open to partnerships to enhance capabilities and investments in green hydrogen production, showing a strategic approach to growth and innovation.
Empresas Copec SA, Chile's largest industrial group controlled by the Angelini family, is exploring opportunities to expand in the realms of green hydrogen and copper mining amidst the rising demand for clean energy solutions. The company, historically reliant on profits from fossil fuels and wood products, is now shifting its focus towards renewable energy sources and alternative fuels. While continuing its exploration in small-scale hydrogen projects, Empresas Copec is considering venturing into larger initiatives in the green hydrogen sector. Strategy and Development Manager Jorge Ferrando mentioned the possibility of collaborating with partners to bolster green hydrogen production capabilities and investment opportunities. The company is also optimistic about the future of copper mining, with electrification trends driving increased demand for the metal. Empresas Copec has a stake in the Mina Justa copper mine in Peru and aims to replicate similar successful ventures in the sector. Ferrando highlighted the company's global outlook, constantly evaluating new opportunities both locally and in competitive markets. As Empresas Copec prepares to decide on a significant underground project worth $400 million at Mina Justa, the company's strategic shift towards sustainable energy solutions and mining reflects a positive stance towards embracing the clean-energy transition.