Codelco and I-Pulse Inc., a US-based technology company led by Robert Friedland, have signed a Letter of Intent (LOI) outlining general terms for a potential investment by the corporation 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 mining solutions that could significantly transform the industry.
“This alliance reflects our commitment to innovation as a driver for more efficient and responsible mining. The possibility of incorporating capabilities like those of I-Pulse, which can revolutionize key processes such as rock fragmentation, is fully aligned with our future vision for Codelco and our purpose to be a pillar of sustainable development in Chile and the world,” stated Máximo Pacheco, chairman of the state-owned company's board.
Codelco and I-Pulse are considering a transaction intended to coordinate their capabilities and expertise, in accordance with I-Pulse's existing contractual obligations, to explore the use of pulsed power solutions for mining applications such as rock fragmentation, precision cutting, and drilling.
“Mining is an energy-intensive activity, and comminution, which includes crushing and grinding, is the most demanding production stage. This technology has the potential to reduce electrical consumption in this process by up to 80%, leading to a substantial decrease in carbon footprint,” explains Pacheco.
Both companies share an interest in accelerating the development and implementation of this system to generate progress that addresses structural challenges in large-scale mining, including older deposits, lower ore grades, and increasing global demand amid the energy transition.
“We must fulfill our commitment to provide critical minerals enabling clean energy technologies but not at any cost. It is essential today more than ever to conduct this activity responsibly with respect to the environment. I-Pulse's technology offers a viable alternative for reducing operational impacts,” concluded Pacheco.
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