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South America launches coordinated framework to boost critical minerals supply
The Aug. 28 declaration by Chile, Argentina, Bolivia, and Peru aims to align geology, regulation, suppliers, skills, and finance for more integrated mineral supply chains.
South America is moving to coordinate critical mineral production and investment as governments seek to secure supplies for energy, technology, and defense, Mining.com reports. Chile, Argentina, Bolivia, and Peru signed a joint declaration on strategic minerals on Aug. 28 to create a regional framework focused on responsible mining investment, technical cooperation, and deeper integration across mineral supply chains.
The agreement was reached during the first ministerial meeting on strategic minerals in Santiago, with mining authorities from the four countries participating. The governments said the initiative is intended to position the region as a reliable strategic supplier of minerals needed for decarbonization, electromobility, and artificial intelligence.
Demand for critical minerals is rising while new supply is slow to come online, according to the report. The International Energy Agency projects global copper supply could fall 25% short of demand by 2035, and new mines can typically take more than 15 years to reach production.
The article also highlights reserve concentration in the region, citing World Economic Forum analysis in collaboration with McKinsey & Co. It says Argentina and Chile account for about 40% of global lithium reserves, Chile and Peru hold roughly 30% of the world’s copper reserves, Brazil has about a quarter of global graphite reserves and 15% of rare earth reserves, and Western efforts to reduce exposure to China are shifting mining investment toward new markets.
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