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Key Points
- Glencore partners with Ceibo and BHP to pilot copper leaching at Lomas Bayas mine in Chile to boost copper output from low-grade ore.
- The electrochemical leaching process, if successful, could extend Lomas Bayas mine’s life by at least seven years, with results expected by mid-2025.
- Glencore’s ongoing growth, driven by strong revenue and cleaner energy investments, highlights its leadership in sustainable mining and copper production.
Glencore Plc, led by South African executive Gary Nagle, has signed an agreement to pilot an advanced copper leaching process at its Lomas Bayas mine in northern Chile.
The development, announced Tuesday, aims to boost copper output from lower-grade ore in response to rising global demand for the metal, which is vital for renewable energy technologies.
The pilot project, in partnership with Chilean startup Ceibo and backed by BHP Group, uses electrochemical technology that has shown promise in lab tests over the past two years. If successful, the method could improve recovery from sulfide ores at Lomas Bayas, where the ore grade is just 0.25 percent.
“This method could extend the life of our Lomas Bayas operation by at least seven years,” said Pablo Carvallo, General Manager of the mine. Results from the trial are expected by April or May 2025, with a feasibility decision anticipated by the third quarter of the same year.
Copper industry looks to innovation amid declining ore quality
The copper mining sector is increasingly exploring technologies like Ceibo’s leaching process to address the challenge of declining ore grades.
Other players, including Jetti Resources and Rio Tinto’s Nuton venture, are also investing in similar innovations to extract more copper from existing deposits.
If successful, the process at Lomas Bayas could be replicated at other Glencore sites, further strengthening the company’s position as a leader in sustainable mining practices.
Glencore reports strong growth and expands cleaner energy focus
Under Gary Nagle, Glencore continues to consolidate its dominance in the global commodities market.
For the first half of 2024, the company reported a 9 percent revenue growth, reaching $117.1 billion, fueled by strong performances in its metals and marketing divisions.
As part of its transition to cleaner energy, Glencore is spinning off its coal business and listing a new entity on the NYSE. It also secured regulatory approval to acquire a 77 percent stake in Elk Valley Resources from Teck Resources, bolstering its steelmaking coal portfolio.
The pilot project at Lomas Bayas underscores Glencore’s commitment to sustainable mining innovations as copper becomes increasingly vital for renewable energy technologies.
