Global demand for critical minerals is rising faster than supply, which remains highly concentrated. This creates a strategic opportunity for Latin America, which holds some of the world’s largest reserves of copper, lithium and other critical minerals, backed by decades of mining expertise and industrial capabilities.

The next decade offers a window to convert the region’s resource abundance into lasting competitiveness. However, while many Latin American countries have established a strong position in upstream mining, their processing capacity and downstream manufacturing remains limited.

This report proposes practical solutions to the barriers facing the region, which include constraints on water and energy, financing challenges, fragmented innovation ecosystems, skills shortages and policy differences. Six priority areas for action are infrastructure, technology and innovation, financing, policy, social impact and talent. Above all, greater regional collaboration will prove a critical enabler of competitiveness and value creation: by building on complementary national capabilities, the region can develop competitive critical minerals ecosystems, while generating new skills, jobs and economic growth.