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IEA Executive Director, Brazilian and Mexican Ambassadors co-host meeting on critical minerals and related supply chains in Latin America

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Latam Ambassadors Lunch

Ambassadors and diplomats from Latin American and Caribbean countries and expert institutions met in Paris today at the joint invitation of IEA Executive Director Fatih Birol, Ambassador Sarquis Sarquis of Brazil and Ambassador Sybel Galván Gómez of Mexico to discuss challenges and opportunities linked to the production of critical minerals and the related value chains.

With 14 Latin American and Caribbean delegations represented, and 4 international expert institutions, discussions focused on the perspectives and conditions for the region to benefit from the trend of rapidly growing demand for critical minerals that are used in a wide range of energy technologies worldwide.

Participants highlighted the major opportunities for Latin America and the Caribbean to scale up production and refining capacities for key mineral resources such as lithium, copper, nickel and bauxite, amongst others.

Latin America’s electricity mix and important natural resource endowment provide a strong competitive advantage for building a robust mineral processing sector. Participants in the meeting emphasized the importance of ensuring that activities related to the development of mineral resources contribute to environmentally and socially sustainable economic development in the region, including through strengthened community engagement.

Participants also highlighted the prospective economic benefits of moving up the value chain through the development of clean energy technology manufacturing capacities in the region. They noted that increasing public and private investment in the mining sector as well as along industrial value chains will be key to unlock the region’s potential.

The IEA’s analysis suggests that greater investment in critical minerals production would allow Latin America to unlock unprecedented economic value in this sector. In May, the IEA will release the 2025 edition of its annual Global Critical Mineral Outlook. Critical minerals will also be a key topic at the upcoming international Summit on the Future on Energy Security, co-hosted on 24-25 April in London by the IEA and the UK Government.