Market Trends of Latin America Conveyors Industry
This section covers the major market trends shaping the Latin America Conveyors Market according to our research experts:
Mining is Expected to Witness Significant Growth
- The mining industry is a significant contributor to the demand for conveyors in the region since Latin America is rich and abundant in natural resources. According to the United States Geological Survey, Chile has the world's most extensive reserves of both lithium and copper and the seventh-largest silver reserves. Peru has the world's most extensive silver reserves, third-largest zinc reserves, third-largest copper reserves, fourth-largest nickel reserves, and fifth-largest gold reserves. Mexico has the world's fourth-largest zinc reserves, sixth-largest copper reserves, fifth-largest lead reserves, sixth-largest silver reserves, and a top-ten gold producer.
- In September 2019, Chile's state copper company Codelco started belting out mineral from its USD 5.5 billion Chuquicamata underground mine as it transitions from an open-pit to an underground mining operation. The company began to operate one of the largest and essential ore conveyor systems in mining, which will take material approximately 14km from the bottom of the underground mine to the surface for processing. The system, built by Ingenieria y Construccion Sigdo Koppers (ICSK), is expected to transport 140,000 tonnes per day of the ore for the next 40-50 years and replace the use of trucks.
- In July 2020, Kinross Gold Corporation announced the results of a pre-feasibility study for its Lobo-Marte project in Chile. The study contemplates an open pit, heap leach, and SART (Sulphidization, Acidification, Recycling, and Thickening) plant operation using rope conveyors and mining the Marte and Lobo deposits in succession. The project's initial estimated capital cost is USD765 million, plus approximately USD 230 million in contingency. The estimated capital costs include mine equipment, crushing and storage facilities, conveyors, and site utilities and infrastructure.
- In September 2019, Fortuna Silver Mines Inc. announced pre-production mining at its Lindero gold Project located in the Province of Salta, Argentina. Initial blasting on Mineral Reserves commenced, and the mine is planned to build stockpiles of reserves ahead of stacking on the leach pad. All principal equipment and structures in the primary, secondary, and tertiary crushing circuits have been mounted coupled with electrical, lubrication, and hydraulic systems. Mounting and installation of conveyor belts was the main mechanical activity that took place at that time.
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Mexico is Expected to Witness Significant Growth
- With virtually zero market access barriers and a highly developed industrial base, Mexico has evolved to be the largest purchaser of automation from the United States. Mexico is home to various industries, including substantial automotive and aerospace manufacturing sectors. Moreover, the country is anticipated to witness growth in the adoption of conveyors due to the increasing investments in establishing new airports and enhancing the infrastructure of the existing airports.
- Mexico has an exceptionally high potential since the country is trying to attract the favor of the top global car manufacturers. In June 2019, BMW opened its auto assembly plant in Central Mexico. Moreover, Mexico does not have enough skilled labor, and the local suppliers can hardly keep up with the car manufacturers' speed of expansion. As a result, manufacturers are increasingly adopting automation in their production lines, increasing the scope for conveyors' utilization.
- In July 2020, Endeavour Silver made an announcement regarding the robust economics in the final pre-feasibility study on the Terronera Mine Project in Jalisco State, Mexico. Several opportunities to increase the value for the Terronera Project have been identified, and one of them is the optimization of tailings transport with alternatives such as conveyor systems. Earlier in Mexico, Dos Santos International executed a contract through M3 Engineering for an overland conveyor system at Goldcorp's Los Filos Project in the Nukay mining district of central Guerrero State in Southern Mexico.
- In October 2019, Conveyor Dynamics, Inc. (CDI) had deployed two overland coal conveyors that transport 600 tph of coal from the Port of Lázaro Cárdenas to the Petacalco Power Station in Guerrero, Mexico. One of the conveyors is 3.3km long and contains four horizontal curves with 900m radii and one horizontal curve with 1200m radii. Another conveyor is 2.2km long and includes a horizontal curve with a 400m radius. CDI supplied the necessary engineering, design review, and control system for these conveyors to Duro Felguera Mining & Handling.
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