Assesing Climate Change Risk in the Mining Industry: A Case Study in the Copper Industry in the Antofagasta Region, Chile

Abstract

The challenges climate change poses require careful consideration and addressing within specific industries. In the mining context, climate change introduces potential limitations to the sustainable sourcing of minerals, thereby amplifying the criticality of several metals. However, most studies examining mineral criticality fail to assess the localized impacts of climate change, despite significant variations occurring at a relatively small scale. In this study, we propose a methodological approach for conducting a climate risk assessment in the mining industry, encompassing the identification of relevant hazards, vulnerabilities, and exposure specific to the sector. To illustrate the application of this approach, we utilize micro-level data for the Antofagasta region in Chile, a prominent mining cluster situated in a country projected to be profoundly affected by climate change. The findings of this study underscore the necessity for coordinated efforts in adaptation and climate resilience while offering a valuable tool for allocating resources to more vulnerable locations, thus strengthening the mineral supply chain.

Keywords

• climate risk assessment
• mining
• vulnerability
• Chile