Wood Mackenzie: AI expansion to drive critical mineral demand

The expansion of artificial intelligence is expected to drive significant investment in physical infrastructure, including data centers and technological equipment, over the next two to three years. Peter Martin, Vice President and Chief Economist at Wood Mackenzie, noted during a conference organized by the Institute of Mining Engineers of Peru (IIMP) that much of the current capital is still being directed toward building the necessary foundations for AI deployment.

This technological growth will require substantial amounts of energy and raw materials, creating a favorable environment for producers of critical minerals. Wood Mackenzie identifies this as a major opportunity for Latin American countries, given the region's availability of mineral resources. The demand for these metals is linked to both the construction of AI infrastructure and global concerns regarding energy security.