Ceibo, the Chilean mining technology startup backed by BHP, is making waves in the industry with its innovative copper leaching technology. The company, which recently secured a deal with Glencore to test its technology, has appointed Cleve Lightfoot, former head of innovation at BHP and ex-Glencore general manager, to its board as an advisor. This strategic move underscores Ceibo’s commitment to leveraging industry expertise to drive technological advancements in the mining sector.
The appointment comes at a pivotal time for the mining industry, which is grappling with the challenge of meeting an expected surge in demand for copper, a critical metal for the energy transition. With new deposits becoming increasingly difficult to find and develop, leaching technologies like Ceibo’s offer a promising solution to boost and extend output at existing mines. Ceibo’s process, which extracts copper from sulfide ores using existing leaching plants and electrochemical reactions, promises higher recovery rates in shorter cycles. This could be a game-changer for mines like Lomas Bayas, which has some of the lowest copper grades in the business at just 0.25%. By adopting Ceibo’s technology, Lomas Bayas aims to extend its operational life by at least seven years, demonstrating the potential of leaching to revitalize aging mines.
Ceibo’s technology is not just about efficiency; it’s also about sustainability. By leveraging existing infrastructure, Ceibo minimizes the need for significant capital expenditures, making the technology more accessible and attractive to miners. “Having technologies that can use and leverage the existing infrastructure is very important for the industry,” Ceibo CEO Cristobal Undurraga emphasized. “That’s the subset where we’re based on, and the world has about five million tons of leaching capacity, so it can become a really big number in time and contribute to decarbonization.”
Undurraga’s vision is backed by impressive results. Ceibo’s technology has demonstrated recovery rates of 70 to 80% in timeframes ranging from 150 to 250 days, outperforming traditional bioleaching platforms. Moreover, the technology’s payback period is remarkably short, with investments often recouped within a year. This efficiency is a significant advantage in an industry where capital expenditures can be a major barrier to innovation.
Ceibo’s impact is already being recognized. In December, the company was named to Cleantech Group’s 2024 LATAM Cleantech 25, an annual list of Latin American private sustainable innovation companies poised to make a significant impact in the next five to ten years. This recognition highlights Ceibo’s potential to reshape the mining landscape, not just in Chile but globally. With partnerships already established with seven of the top 10 miners and involvement in about 40% of world production, Ceibo is well-positioned to drive industry-wide change.
The mining industry is at a crossroads, facing a daunting task of meeting the world’s copper demand while navigating the complexities of sustainability and efficiency. Ceibo’s innovative approach to copper leaching offers a compelling solution, one that could redefine how the industry operates. As Undurraga aptly put it, “The amount of copper that the world needs during the next 25 years is just enormous. It’s not only that demand is going to increase but the supply is falling, so the gap is going to be somewhere like 25 million tons pretty quickly.” The question now is, can Ceibo’s technology help bridge this gap and accelerate the mining industry’s transition to a more sustainable future? Only time will tell, but the early signs are promising.
