Chile, the global leader in copper production, faces significant challenges due to water scarcity. However, a ray of hope has emerged in the form of the Chilean startup Ceibo, whose innovative proposal promises to transform mining by addressing water supply issues.
Capitalization for Change
Amid the water crisis affecting both the city and the country, Ceibo has garnered attention by securing a substantial capital of US$30 million. This financial boost will enable the company not only to improve copper extraction, but also to drastically address the issue of excessive water usage in both Chile and abroad.
Cristóbal Undurraga, CEO of Ceibo, revealed in an interview with Redimin that the company has its sights set on global expansion. The goal is to bring Ceibo's innovative technologies to copper-producing countries such as Canada, the United States, Mexico, and Peru. Although specific details about the involved companies remain under confidentiality agreements, Undurraga emphasized the importance of ongoing negotiations with the four main continental copper-producing countries.
Ceibo's developed technology not only optimizes copper extraction but also tackles two critical challenges in the mining industry: drought and excessive water usage. Additionally, the company focuses on reducing dust on mining roads and introduces a method to access reserves outside the leaching process, all without the need for new infrastructure and with a significant reduction in water consumption.
Challenges in Chile and Contribution to the Global Market
Chile, as the world's largest copper producer, has faced considerable challenges due to water scarcity, impacting the production of key mines for over a decade. Undurraga highlighted that Ceibo aims not only to improve efficiency in copper extraction but also to contribute an additional million tons to the global market, especially amid the expected lower supply in the coming years.
With the funds raised, Ceibo has ambitious plans, including the construction of a testing plant, strengthening the science and development team both in Chile and abroad, and scaling up technologies for primary sulfide leaching.
Key Investors and Global Positioning
Ceibo's capitalization round attracted key investors such as BHP Ventures, CoTec Holding, Audley Capital, Orion Industrial Ventures, Unearth Capital, and Opalton. With this financial backing, the Chilean startup positions itself as a key player on the global stage, advancing towards Mining 4.0 and adopting a more sustainable and efficient approach to natural resource extraction.
Ceibo presents itself as a Chilean company developing advanced technologies to support the mining industry's goal of increasing copper and other critical mineral production while seeking more sustainable operations. Their motto, #GreenIndustryMakers, reflects their commitment to nurturing talent and developing individual capacities to make mining operations more environmentally friendly and engaged with local communities.
The Team Behind the Innovation
Led by Víctor Aguilera, Director of MP Aurus Capital Fund, Samir Kaul, Director and Founder of Khosla Ventures, and Catalina Urrejola, CTO of Ceibo, the team aims to change the mining landscape, not only by improving efficiency but also by contributing to environmental and community well-being.
Ceibo stands as a transformative force in the mining industry, demonstrating that innovation and sustainability can go hand in hand to address the most pressing challenges of our time. Their global vision and commitment to a greener approach position the Chilean startup as a benchmark in the quest for 21st-century mining solutions.