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Wednesday, Jun 12, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Copper

Libero Copper works with Government of Colombia on secure copper supply chain for sustainable energy transition

The collaboration’s objective is supplying enough copper to help facilitate the sustainable energy transition in Colombia

President Ian Harris and Tetiana Konstantynivska, Investor Relations Manager. Image via Libero Copper & Gold.

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is taking steps forward in its partnership with the Government of Colombia to secure a critical minerals supply chain for the development of electric batteries and meet sustainability goals.

On Wednesday, the Vancouver-based company provided an update on its “Green Route” collaboration with universities, communities and companies in Colombia to establish a secure copper supply chain.

The collaboration’s primary objective is to supply material for intermediate and end-use products for sustainable energy and electric vehicles in Colombia. Copper is the principal component in the manufacturing of electric vehicles, as well as renewable energy infrastructure and other technologies.

Libero Copper was invited to participate in the Colombia Green Energy Summit in late March as both presenter and panellist. The Minister of Energy and Mines opened the summit and Libero Copper was among the three approved companies to join the Minister in the national press release.

At present, Libero Copper is in advanced discussions with multiple public and private sector companies interested in the Green Route alliance.

The Green Route intends on beginning with recycled copper and then moving to copper provided by the Mocoa Copper and Molybdenum deposit. Presently, Columbia’s only source of copper is imported copper scrap.

Through this initiative, the Green Route is contributing to the Colombian government’s Just and Sustainable Energy Transition and Reindustrialization Policy, which will help facilitate the transition to cleaner energy sources as well as bolster economic growth through the development of new green industries.

“We are committed to working with our existing and new local and national partners, as well as the government of Colombia, to ensure that our goals are aligned, benefits are maximized, and the environmental and social impact is minimized,” said Ian Harris, CEO and president of Libero Copper.

The Green Route was originally submitted to the Ministry of Commerce, Industry and Tourism (MINCIT) in early February. In mid-February, MINCIT announced the Reindustrialization Policy, intended to move away from an extractive economy to a productive and sustainable knowledge economy.

The Green Route works in support of three of four policy objectives, including closing gaps in productivity, strengthening production chains and investment, and diversifying and developing exportable supply.

Ian Harris, CEO and President, at the Colombia Green Energy Summit´s press conference together with, Irene Vélez Torres, Minister of Energy and Mines (third person from the left); Camilo Salsedo, Aggreko’s Business Development manager (person on the left); Ester Teijeiro, Colombia Green Energy Summit’s Regional Director (second person from the left), and Steve Freeman, SLB’s Head of Energy Transition (person on the right). Image by Libero Copper & Gold Corporation.

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Libero Copper joins conversation on green transition in Colombia

“This collective expertise has taught us that projects of national importance, such as the Mocoa copper-molybdenum deposit, can only be accomplished through responsible business practices that align with the government’s objectives, as well as local and national collaboration and innovation,” said Harris.

In early March, the Minister of Energy and Mines went to the city of Mocoa in Putumayo province to announce the creation of permanent dialogue tables on the Mocoa project. The minister’s announcement led to expressions of support from various groups for the project’s development.

These groups included all seven of the surrounding communities, who expressed interest through their elected township Communication Action Boards (JACs). Also, the Inspectorate for the Transition and Total Peace with 910 signatures, local service providers, and others, representing several thousand individuals and families.

On May 15, the Government of Colombia announced the government’s objectives of launching an energy transition that’s both fair and sustainable. The strategy included multiple points of interest, including investments in clean energy and decarbonization, as well as the reindustrialization of the Colombian economy.

The announcement also included six instruments the government would use, including stimulation of the diversification of exports to include intermediate and end-use products with higher added value. Also included were provisions for the exploration, production and industrialization of critical minerals, and specifically copper, cobalt and lithium.

The timing of the transition depends on the output of those particular objectives in order to connect progress with export transition and a more diversified economy with less dependence on oil and coal.

Libero Copper intends to work towards developing a source of copper to help with Colombia’s electrical vehicle industry and clean energy transition.

 

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