Last week TIQ brought out a key buyer from Chile’s state-owned copper mining company to meet local mining, engineering technology and services (METS) companies with a view to sourcing their products and services for the business’s ambitious investment and expansion program.
Last week, Trade and Investment Queensland (TIQ) brought out a key buyer from Chile’s state-owned copper mining company to meet local METS (mining, engineering technology and services) companies with a view to sourcing their products and services for the business’s ambitious investment and expansion program.
Director of International Procurement for Codelco, Fernando Marchant, said the business was in the process of rolling out a major investment program worth around US$20 billion between now and 2021.
Codelco is responsible for around a quarter of the world’s copper production with revenues of approximately US$11.5 billion in 2016.
The mining giant has identified seven technology challenges for the next decade:
- Remote control of operations through automation and big data
- Large open pit productivity
- Recovery of additional materials
- Chalcoprite leaching / in situ leaching
- Underground mining – development and caving at new depths
- Clean copper production
- Pre-emptive maintenance
Codelco has seven mines, including four smelters and refineries, and three new projects that have been approved including the transformation of the largest open pit copper mine into an underground operation by 2019.
CEO of TIQ Virginia Greville said Queensland’s METS companies have been working closely with Codelco for many years.
“Since 2012, Codelco has utilised Queensland METS capabilities for maintenance repairs and operations analytics; ground stability monitoring systems; mill relining equipment and water treatment expertise,” Ms Greville said.
“TIQ hopes to grow Codelco’s use of Queensland METS for the mutual benefit of Chile and Queensland.”
Queensland METS companies employ around 19,500 people; generate $7 billion in revenue and value add $2.5 billion to the Queensland economy.
TIQ is the government’s global business agency which works to help Queensland exporters take their products and services to world markets and to promote Queensland as an ideal investment destination.