Chile launches call for studies on obtaining cobalt, rare earths from mine waste
SANTIAGO - Chile's development agency Corfo on Tuesday opened a call for studies on the extraction of cobalt and rare earths from mining waste, offering $3-million to $4-million per project for a three-year period.
The initiative is part of Chile's efforts to capitalize on its nearly 800 deposits of mining waste around the country, called tailings. Mining companies are also studying ways to extract more from waste deposits, particularly as the global energy transition is expected to lead to higher demand for certain metals, such as cobalt as well as copper.
"These are strategic minerals, especially cobalt and rare earths, where we have great potential," Mining Minister Aurora Williams told reporters. "Tailings, especially older ones, have an economic value."
Williams also said the ministry aims in March to modernize regulations for construction, management, closure and reuse of tailings in Chile, which is the world's No. 1 copper producer.
Corfo's head of Technological Capabilities, Fernando Hentzschel, said the agency would evaluate the cobalt and rare earths proposals for their economic potential and scalability as well as innovation.
Chile already extracts copper from mining waste at a small scale, but has yet to make the same headway in other metals such as cobalt and rare earths.
"We're looking for triggers for technological development," Hentzschel said, and added that some small-scale technologies are already available for cobalt. "We are looking to scale up these types of technologies."
The call for proposals is open until March. Hentzschel did not detail how many projects Corfo expected to fund.
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