Codelco signs agreement with I-Pulse to explore disruptive technologies applied to mining
Copper mining major Codelco and I-Pulse Inc, a US-based technology company chaired by Robert Friedland, have signed a Letter of Intent (LOI) that establishes the general terms for a potential investment by Codelco – or one of its subsidiaries.
This agreement marks the beginning of a strategic collaboration aimed at advancing the development and adoption of advanced and sustainable solutions for mining, the characteristics of which could generate a profound transformation in the industry.
“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 contemplating a transaction to coordinate their capabilities and expertise, consistent with I-Pulse’s existing contractual obligations, to explore the use of pulsed power solutions for mining applications such as rock and mineral fragmentation, precision cutting, and drilling. I-Pulse uses high-pulsed power is the compression and rapid release of small quantities of electrical energy to obtain 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 share an interest in accelerating the development and implementation of this system, with a view to generating advances that will address the structural challenges of large-scale mining, with older deposits, lower ore grades, and growing global demand in the context of 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.
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