Empresas Copec fuel-to-forestry giant looks into green hydrogen

The company is looking into renewable H2 as well as clean copper opportunities

The largest industrial group in Chile, Empresa Copec SA, is examining new opportunities to expand into green hydrogen as well as clean copper mining as a component of a strategy to face the clean energy transition.

The company has been looking into small H2 initiatives so far

The Angelini family, which controls the fuel-to-forestry conglomerate in Chile, released a statement through its Strategy and Development Manager Jorge Ferrando, which said it was “analyzing the possibility of carrying out larger projects” focused on green hydrogen.  This will change its direction that has only focused on smaller projects until now.

Empresas Copec currently obtains the majority of its profits from wood products and fossil fuels. That said, it is working on pivoting toward cleaner energy through renewable power and alternative fuels. 

Green hydrogen is among the only identified strategies

While Ferrando did state that the company found it made sense to drawn new partners for green hydrogen production in order to share investments and boost capabilities.  That said, it didn’t say much else in terms of a renewable energy strategy involving any other type of clean power.

That said, beyond energy, using H2 as a form of clean energy opens up new doors for copper.  Though there has been a strong withdrawal in this wiring metal from the record-breaking prices that were experienced earlier in 2024, Empresas Copec sees new opportunities there.

An indirect stake

Empresas Copec has an indirect stake in a Peruvian copper mine called Mina Justa, saying through Ferrando that it “would love to be able to repeat it with another similar project.”

“This is a global industry, so we have a comprehensive look at projects and we are always studying new opportunities, both locally and in other competitive geographies,” explained Ferrando in a recent media report. 

At the same time, Mina Justa is now taking the last steps in deciding if it will be moving forward in a new $400 million underground mining project. That decision is expected to be made and then announced in the near future.