The 2030 Agenda for Sustainable Development emphasizes the importance of implementing equitable and effective measures to tackle the pressing challenge of climate change. The deployment of low-carbon technologies such as solar panels, wind turbines and lithium-ion batteries, which are highly mineral-intensive, will drive a mining boom in Latin America and the Caribbean.
The presence of lithium, copper, nickel and other minerals in the countries of Latin America and the Caribbean presents opportunities to develop the mining sector, diversify production, add upstream and downstream value, establish networks of local suppliers and enhance regional integration and cooperation. However, the reliable and affordable supply of these resources is subject to supply-side risks and demand-side pressures.
Leveraging the opportunities for mining in the region and minimizing potential risks will require a strategic, long-term vision that focuses on economic and social development and environmental protection. To facilitate a regional transition towards more sustainable extraction models, there is a need for the mining sector to increase the use of renewable energy, implement integrated water resources management, adopt new circular economy models, recycle waste, reduce the carbon footprint and safeguard critical natural resources.
This bulletin examines opportunities and challenges in Latin America associated with the growing global demand for the critical minerals required for the energy transition and electromobility, in order to spur debate on the role of metals and minerals for a more productive, inclusive and sustainable development model.
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