Empresas Copec, which nonetheless will get most of its revenue from fossil fuels and wooden merchandise, is stepping up its foray into renewable power and various fuels. With out commenting on particular tasks, Ferrando mentioned it could make sense to herald companions for inexperienced hydrogen manufacturing to share investments and add capabilities.
Electrification can also be boosting prospects for copper, regardless of the wiring steel’s sharp pullback from record-high costs reached earlier this yr. Empresas Copec has an oblique stake within the Mina Justa copper mine in Peru and “would love to have the ability to repeat it with one other related challenge,” he mentioned.
“It is a international business, so we’ve got a complete have a look at tasks and we’re at all times finding out new alternatives, each domestically and in different aggressive geographies,” Ferrando mentioned in written responses to Bloomberg questions.
Within the meantime, Mina Justa is getting ready to decide on whether or not to proceed with a $400 million underground challenge.
(By James Attwood and Valentina Fuentes)