lithium, copper and sun, keys to the energy transition and in Chile they abound

When last year we began with the first editions of “El Mostrador Semanal Summit”, we talked about how the technological and cultural revolution, as well as the emergence of artificial intelligence (AI), are forcing companies to transform to regain legitimacy.

This year we started with a summit where the focus of the conversation was on other types of revolutions: the energy and electromobility revolutions. Tamara Berríos, Country Manager BYD Chile, the Chinese giant of electric cars and batteries; Joaquín Villarino, president of the Mining Council; Ignacio Mehech, VP External Affairs LATAM Albemarle, SQM’s major competitor in the Atacama salt flat; and Miguel Arrarás, CEO of South America for Acciona, the Spanish renewable energy giant.

The four agree that Chile has a historic opportunity. We are world leaders in lithium, copper and sun, key to the energy transition. “More than 60% of the matrix in Chile is already renewable,” Arrarás points out, but he criticizes that we have not done our homework in the area of ​​transmission and distribution. “The electrical system is out of balance. Chile has not kept its promises,” he adds.

All four participants stress that Chile remains a stable country in its institutions, but that we are sometimes our own worst enemies. Villarino says that we are behind in terms of energy costs for mining, compared to some of our competitors.

Tamara Berríos also emphasizes the stability of the country and the opportunities it offers, although she warns that we are moving at a very slow pace. “Chile is not recognizing what is happening and how the Chinese are moving. We are in danger of losing competitiveness,” she says.

For his part, Ignacio Mehech, head of Albemarle in Chile, underlines the enormous advantages we have in the country with lithium and gives details of the new agreement with Corfo. He warns about the regulatory challenges, but says that the window of opportunity is large. “It is very difficult for lithium to be replaced as a critical mineral for batteries,” but we lack urgency.