Can you introduce Promet?

Behind every mining project is a support system that turns visions into reality, starting with construction and essential services. We transform deserts into operational mini-cities, laying the groundwork for mining and energy projects. Our journey began over thirty years ago, and since then, we expanded our services to include the engineering and construction of mining camps, alongside operating hotels that cater to the mining and energy sectors. As Promet grew, we ventured into the modular sector outside of mining, though 50% of our modular services service the mining industry’s needs.

In 2023, Promet was recognized three times across various sectors for outstanding safety standards, notably by Codelco on two occasions. How has client demand impacted Promet’s offerings?

Driven by the evolving demands of major mining companies in Chile, Promet is embracing innovation to enhance the sustainability and community integration of our camps. We are collaborating with these companies to explore modifications to our camp offerings, focusing on key improvements like water reuse, creating more pleasant living environments for workers, and fostering positive relationships with local communities. This transition challenges us to differentiate ourselves and be disruptive in our approach. What led to the emergence of modular construction in mining and what is its future?

Mining is catalyzing a global reevaluation, revealing the indispensable role of modular construction in industries where time is scarce and costs are high. Situated in remote locations, mining demands stringent security and quality standards, but at the same time, the costs of operating in mining are high, and time is gold. Here, modular construction emerges as a sustainable solution, enabling rapid development and resource exploitation. However, the challenge lies not just in sustainability but in achieving efficiency and financial viability.

The essence of the challenge for Promet and the wider industry is scalability. Sustainability alone is not enough; scalability is crucial to broaden the impact, making environmentally friendly and community-centric construction accessible to all. This balance between sustainability, scalability, and financial feasibility represents the future of modularized construction. What is Promet’s approach to ESG?

Our ESG initiatives prioritize community engagement, particularly through our hotel operations that accommodate up to 4,000-5,000 guests at peak times. The significance of our hotel staff, many of whom are residents of nearby towns, cannot be overstated. Collaborating closely with local communities is essential for making our hotel projects successful.

We are committed to environmental responsibility, particularly in waste management and material usage. Modular construction generates 10 times less waste than traditional methods, but we acknowledge there is still waste. Leveraging steel—a shift from our previous focus on wood—enables us to substantially reduce this footprint. Steel not only offers superior recycling opportunities compared to wood but also represents a forward-looking choice for sustainable construction. What shifts are currently taking place in the mining industry?

2023 was a year of stabilization. Although this stabilization has not yet materialized, the industry is showing signs of growth. Promet is one of the first companies to be contacted in the cycle of growth in the mining industry. When the mining companies make the decision to expand operations or start new ones, the first necessity is the construction of camps. At the end of 2023 and beginning of 2024, we have seen projects within the pipeline accelerate. From the point of view of our project pipeline, 2024 will be a year where certain permits will be granted which will enable the next five or six years quite positive for the industry. The stakeholders behind permitting are starting to take responsibility and approve permits. In terms of mining, Chile is currently paralyzed. It needs this growth. What is Promet’s vision?

We aim to be the leader in modular construction services in Chile. Our goal extends beyond our foundational work in mining to modular housing. We are looking to offer added value to our mining clients through sustainability-focused initiatives, particularly by developing 'green camps.' Our vision is to be at the forefront of modular construction in the mining industry, emphasizing sustainability and environmental stewardship. Mining companies are increasingly adopting responsible environmental practices, and we are committed to aligning with this shift, ensuring that our contributions resonate with the current and future needs of our clients and the planet.