Latin American mining is experiencing a turning point in which entrepreneurship, technology and sustainability They all pull together. Around the oil fields and large-scale operations, a network of startups, accelerators, pilot centers, and universities has been established, driving the adoption of advanced solutions for more efficient, safer, and less environmentally impactful operations. This is no coincidence: The region holds critical minerals and a historic opportunity to gain competitiveness through well-orchestrated innovation.
In this new scenario, specialized acceleration programs coexist, testing areas in work sitesReports that outline a roadmap for digital autonomy and an unprecedented investment push in countries like Chile and Peru. Throughout this article, you will find a complete overview of the mining entrepreneurial ecosystem in LATAM: Who is driving it, where are the technologies validated, what figures are keyWhat are the real barriers for suppliers and what strategies are working to turn pilots into measurable results?
Accelerators and platforms that drive mining innovation
The acceleration map highlights the work of Aster, which has recently incorporated six new startups, bringing the total to 68 in its portfolioall of them focused on solving industry bottlenecks. The growth of this accelerator is relevant for two reasons: firstly, it demonstrates that mining companies are increasingly willing to test technologies; secondly, Connects talent with real problems, which accelerates adoption and value creation on the ground.
Equally important is the role of community platforms that aggregate resources, training, and networking. Initiatives such as ecosystemstartup.com They provide easy access to courses, workshops, and contacts for entrepreneurs and investors who want to develop their value proposition in the mining sector. These kinds of communities act as meeting points where learnings are shared, opportunities are identified, and key alliances are formed to get down to work with less friction.
In Peru, the movement has accelerated with the arrival of Quintil Lab, the first accelerator program specializing in mining in that market, powered by Quintil Valley. In its first cohort, Five startups were selected from more than 25 Applications will be accepted, prioritizing projects with innovation ready for validation in the sector (or validated in another industry) and with the capacity to begin sales. The proposal combines mentorship, business roundtables, validation meetings and coordination with advisors in local and international terms, with tracking metrics on sales, employment and leveraged capital at year-end.
This approach complements the progress of the Peruvian ecosystem, which, although it has matured remarkably, It had a missing link. to scale mining solutions quickly. Coordination between Chile and Peru—two leading mining hubs—is enabling commercially ready projects to find opportunities for agile validation and access to customers.
Pilot centers: from idea to terrain safely
The leap from theory to practice is built with well-designed pilot projectsHere, the National Pilot Center plays a leading role, facilitating the transition from prototypes to operational testing in mining. In a recent meeting, Hernán Benavente, general manager of IGOHe shared how his startup is streamlining processes and containing costs with applied technology, a sign that the sector is beginning to move at a different pace.
Validation is not limited to large companies; it is becoming increasingly common. SMEs that are suppliers are getting on board joining the innovation movement, supported by these centers and universities with an applied focus. One example is the Catholic University of the North (UCN), which articulates a clear path: from the USQAI Entrepreneurship Lab for ideas and early stages, going through the Science and Technology Park (PCT) as a hinge towards industry, until it leads to CIPTEMIN when solutions pass TRL 4 and are ready for piloting. In parallel, a focus is being placed on SMEs led by women linked to mining, so that no one is left out of the wave.
This mechanism reduces the risk perceived by companies and offers controlled testing spaceswith clear performance metrics and technical support. In a sector where halting operations is not an option, having pilot infrastructure and teams that understand security and accreditation protocols makes all the difference.
Autonomy, AI, and the technological orchestration that sets the standard
The conversation about digitization and autonomy advanced with data thanks to the joint report of MIT Technology Review in Spanish and NTT DATA on the mining business. The study, in which 25 leaders from 14 companies participated, Chile, Brazil, Peru and Mexico, reveals that 31% see efficiency as the main driver for moving towards more autonomous and digitized models, followed by cost reduction (27,03%) and more security (25,68%)The priority is no longer just to reduce costs, but to manage with precision and resilience.
The most mature areas show tangible progress: in Drilling achieves 32% advanced automationAnd transport and processing integrate data analytics and decision support systems. Even so, 72% acknowledge only partial benefits in their autonomy projects, and only 28% declare complete success. Why? There are many isolated projects without integration, the prolongation of exploratory phases and the lack of resources to scale pilots, in addition to a weak connection with business value.
The report emphasizes that the decisive factor is no longer testing technologies separately, but orchestrate automation, analytics, and AI to operate with minimal human intervention. Figures such as Jaime Rebolledo (NTT DATA) y Nelson Wilson They have insisted that technology is a means to transform business models and address regulatory, social and competitive pressurenot an end in itself. In parallel, a fragmented maturity is emerging: plant and planning are advancing with standardized processes and improved data availability, while exploration, logistics or sustainability remain in more basic phases.
Perhaps the biggest obstacle lies on a human level. 27,54% of leaders point to the resistance to change The main barrier is cited by 14,49% as the shortage of specialized talent. Autonomy requires an organizational culture open to experimentation. cross-cutting collaboration and a digital mindset to absorb new tools without the value being diluted along the way. As a side effect, we observe ESG benefits relevant (energy optimization, fewer emissions and less exposure to risk) that, although they rarely justify the investment on their own, strengthen the social license to operate.
Chile, a pilot hub and epicenter of a new wave of investment
Chile has established itself as major mining pilot center in LATAMFrom the Alta Ley Corporation, Víctor Pérez (Green Mining Directorate) highlights that, beyond the early stages, there are already at least 20 high-flying ventures linked to advanced uses of copper and green mining; a dozen invoice significant amounts and several are expanding with substantive technological developmentThe key: to take the properties of copper and apply them to processes previously dominated by textiles, polymers, or cellulose, opening up transformative business models.
The Antofagasta region is an example of coordination: the Mining Cluster It was developed through active listening to the territory—mining companies, suppliers, entrepreneurs, and communities—to co-create opportunities around renewable energy and green hydrogenThe goal is not to set up laboratories for the sake of setting them up, but infrastructure with purpose in service of specific challenges. Regarding financing, Pérez suggests diversifying and facilitating the entry of venture capital (including that of pension funds) to scale a industrial transformation with high potential returns.
The Antofagasta region is an example of coordination: the Mining Cluster It was developed through active listening to the territory—mining companies, suppliers, entrepreneurs, and communities—to co-create opportunities around renewable energy and green hydrogenThe goal is not to set up laboratories for the sake of setting them up, but infrastructure with purpose in service of specific challenges. Regarding financing, Pérez suggests diversifying and facilitating the entry of venture capital (including that of pension funds) to scale a industrial transformation with high potential returns.
International interest is also present: Chile is a magnet for pilotsAnd that is also reflected in the investment portfolio. Estimates point to more than U.S. $ 83.000 millones in the next decade. As of today, there are 51 mining projects undergoing environmental assessment in the SEIA for some U.S. $ 10.687 milloneswith 88% concentrated in Antofagasta, Atacama, and Coquimbo. Among the initiatives, projects exceeding [the following amounts] stand out. U.S. $ 1.000 millones from companies such as Codelco, Antofagasta Minerals and BHP, and other relevant greenfields such as Tovaku (US$ 870 million), Sales de Maricunga (US$ 350 million), Ciclón Exploradora (US$ 125 million) or Módulo Penco (US$ 130 million).
Regarding approvals, the picture is clear: during the current administration, the following have been approved 115 mining projects worth US$21.168 billion (78 of them admitted under this same administration). In 2025 alone, there will be 42 initiatives approved —more than double that of 2024—, with seven exceeding US$1.000 billion (Los Bronces Integrado, modernizations at Minera Escondida and Spence, or the modernization of the Paipote Smelter(among others). Adding up all sectors, in 2025 the SEIA accumulates 305 projects worth US$ 34.337 billion, a historic record since 1993.
Looking at the entries into the SEIA between March 2022 and November 2025, the following have entered 170 mining projects worth US$30.000 billion78 have already been approved (US$12.775 billion), 47 are still being processed (US$10.311 billion), 25 were withdrawn, 17 were deemed “not qualified,” and three were rejected. This acceleration, supported by administrative improvements and maturity in the filesIt is in line with what the industry was asking for: greater fluidity without losing environmental rigor.
First major operational challenge: phasing out diesel and betting on H2V
To truly decarbonize, the critical path involves remove diesel from the operationIt's not a short road—it can take a decade—but the green hydrogen It appears as the most logical alternative in areas with the best solar radiation on the planet. The scheme is clear: produce H2 with solar energy and seawater, separate molecules with advanced electrolyzers, and, as a co-benefit, obtain high purity water which opens the door to new uses in desert regions.
This energy-water combination is a game-changer. With competitive H2V and renewable-powered desalination, Solutions for water consumption are emerging Mining is seeing development opportunities, and agribusiness is emerging in the desert. What was once a dream of local entrepreneurs is now beginning to be seen as a reality. country project consistent with the global energy transition.
The mining supplier's journey: frictions, lessons learned, and solutions
Becoming a mining supplier is no walk in the park. Seven companies from the Alta Ley Corporation's Supplier Observatory catalog shared very specific challenges. First, the resistance to change and the need to demonstrate effectiveness in real-world environments. Both Altum Lab and Coddi emphasize the complexity of integrate into existing systems and the pressure to validate results with data in operations that cannot stop.
Another common obstacle is identify the correct “pain” The decision-makers. O2 Mining describes it well: in large structures, figuring out where the problem is and who cuts the cake It's almost 80% of the work. Added to this is the specificity of the administrative, operational, and security procedures. EYE3 refers to the profile as “nerd-miner": professionals capable of combining technological expertise with work protocols so that solutions don't just stay on paper."
Logistics don't help either: remote facilities, altitude, extreme weather; if something goes wrong "in the middle of the desert," the pressure is immense, as YOY reports. And, to make matters worse, the long sales cycles They demand business sustainability strategies (Domilif highlights services that stabilize revenue) and management of specialized talent which is not always abundant, especially in next-generation topics, as Sustrenlab points out.
What works to pave the way? Several recipes agree. First, collaboration and pilot programs between mining companies, startups, and research centers, accompanied by public policies that incentivize R&D with tax benefits. Second, more spaces for testing and validation both at facilities and on-site, including on-site innovation personnel who measure KPIs and support technologies being deployed. Third, sector accelerators with internal mentoring models in mining companies — such as BHP's ASTER — to adjust the value proposition from the beginning.
That would also help create specific purchasing channels for entrepreneurs, shortening hiring and payment times; viewing startups as laboratories to pivot with and to learn, rather than as traditional suppliers. Hackathon-type events and open challenges—like the one organized by Minera Centinela—energize the identification of solutions; and collaborations like the one by digital inspections with generative AI Together with TECK QB and Minera Centinela, they show where the industry is headed. Good news, too, regarding shared value: they are increasing local shopping and the presence of women professionals, with positive cultural impacts.
Financing, hubs and banking that support the ecosystem
In 2021, LATAM startups raised a record amount of U.S. $ 19.500 millones and 18 unicorns were born. Although the flow of capital moderated in 2022, voices like that of Fermín Bueno (Finnovista) They suggest that global funding will remain available to the region, with medium-term growth rates of 30-40% year-on-year. However, key factors will be... gain efficiency and diversify sourcesbecause capital is more demanding.
The banking sector has also made moves. BBVA Spark It offers funding and support to startups, facilitating access to credit—one of the bottlenecks to growth—and fostering open innovationBy sector, fintech led in 2021 with almost US$6.000 billion (39% of the total), and e-commerce captured 20%; edtech increased sixfold compared to 2020. These hubs—with Brazil and Mexico — at the forefront— have a spillover effect on neighboring markets, something that underlines Aurora Otoya From BBVA Open Innovation Peru: when the investor focus is on the region, everyone raises the bar and more opportunities are created.
With 78% internet penetration in Latin America, the technological base exists to scale solutions, but more is needed. connect ecosystems and to direct innovation towards high-impact problems, especially in mining, where the social, environmental, and economic returns multiply when solving critical inefficiencies.
Sustainability and territorial fabric that engage with mining
The mining entrepreneurship ecosystem does not operate in a vacuum; it coexists with territorial initiatives that reinforce the agenda of sustainable developmentIn the region, training and environmental restoration programs are being accelerated: I train 12.500 producers In climate-smart practices, reports are made more than 700.000 trees established on coffee and cocoa farms in Central America, and in Colombia they have been delivered 30.000 trees to promote agroforestry.
In Peru, shared value projects in the artisanal and small-scale mining (ASM) They are making progress thanks to alliances like the one between Solidaridad and Minera Orex, with a focus on decent work and territorial stabilityIn Argentina, tools like a web viewer for native forests In Tucumán, resource management is improving. All of this creates an environment where mining innovation can flourish. rely on local capabilities and contribute to common environmental goals.
There are also current headlines that highlight the sensitivity of the investment environment, such as the debates in Peru about retroactive tax collections in the stock market indicated by relevant financial players, or sectoral trends—for example, the retail diversification toward strip centers—which speak of a transforming economy. For the mining entrepreneur, understanding this macro context It helps calibrate timing, risk, and partners.
Actors, resources, and communities that facilitate taking the leap
In addition to accelerators and pilot centers, there are resources designed for reduce the learning curveOpen communities, practical training, and supplier catalogs—such as the Suppliers and Mining Observatory— they offer visibility and quality connections. Platforms like ecosistemastartup.com invite you to join for free to access courses, workshops and networkingwhich often makes the difference between staying in the lab or getting a contract.
Those prepared to move quickly will find fertile ground: mining companies more open to innovationHackathons and corporate challenges, centers where KPIs can be rigorously measured and a bank that starts to play in the long term. The challenge lies in combining business acumen, technical expertise, and on-site execution capacityAnd, of course, not going it alone: partnering with someone who already knows the mining operation drastically shortens adoption times.
Looking at the whole picture, LATAM has gone from sensing the opportunity to structuring a robust ecosystem To scale mining technology: accelerators like Aster and Quintil Lab, pilot centers like CNP and CIPTEMIN, universities with a clear TRL path, reports that guide digital autonomy, and a wave of investments —especially in Chile— which is driving demand for next-generation solutions. Challenges remain regarding integration, talent, and culture, but the direction is clear: more autonomous, safer and more sustainable operations with startups and local suppliers as the main players.
