Copper mining giant Codelco and US technology firm I-Pulse Inc, chaired by Robert Friedland, have entered into a Letter of Intent (LOI) which sets out the broad terms for a possible investment by Codelco – or one of its affiliates.
This accord commences the project of a strategic partnership with the objective of supporting the progress and implementation of innovative and sustainable mining solutions, the nature of which may cause a deep change in the sector.
“This alliance reflects our commitment to innovation as a driver of more efficient and responsible mining. The possibility of incorporating capabilities like those of I-Pulse, which can revolutionise key processes such as rock fragmentation, is fully aligned with our vision for the future of Codelco and our goal of being a pillar of sustainable development in Chile and the world,” said Máximo Pacheco, Chairman of the Board of Directors of the state-owned company.
Codelco and I-Pulse are discussing a transaction to combine their capabilities and expertise, in accordance with I-Pulse’s existing contractual obligations, to investigate the use of pulsed power solutions in mining applications such as rock and mineral fragmentation, precision cutting, and drilling. I-Pulse utilises high-pulsed power, which is the compression and rapid release of small amounts of electrical energy to produce extremely high power discharges.
“We know that mining is an energy-intensive activity, and comminution, which includes crushing and grinding, is the most energy-intensive production stage. This technology has the potential to reduce the electricity consumption of this process by up to 80%, which would mean a substantial reduction in the carbon footprint of operations,” explains Pacheco.
Both companies are interested in accelerating the development and implementation of this system in order to generate advances that will address the structural challenges of large-scale mining, such as older deposits, lower ore grades, and rising global demand during the energy transition.
“We must fulfil our commitment to the planet to provide the critical minerals that enable the transition to clean energy and technologies, but we can’t do so at any cost. Now more than ever, it’s essential to conduct this activity in an environmentally responsible manner, and I-Pulse’s technology represents a viable alternative to reduce the impact of mining operations,” Pacheco concluded.