The Latin American region hosts some of the world’s largest reserves of metallic and non-metallic minerals, according to the Mineral Commodities Summary issued by the United States Geological Service (USGS) in February 2023. As per USGS data, the region is home to the world’s largest reserves of copper, lithium, silver, and niobium, and it also has significant reserves of tin, lead, zinc, iron ore, gold, molybdenum, and manganese. Besides, Latin America is home to both the largest and the second-largest producers of copper (Chile and Peru), the largest producer of niobium and the secondlargest producer of iron ore (Brazil), the second- and fourth-largest producers of lithium (Chile and Argentina), and the biggest and third-biggest producers of silver (Mexico and Peru, respectively).

Mining is destructive and harmful to the environment, but it has long been the only way to obtain metals and minerals used in various industries. These materials are used in various products such as smartphones, laptops, drywall, and food cans, and as the world's population is growing, the use of various products is growing. For decades, continued reliance on non-renewable resources has been a provocative issue, with environmentalists highlighting the seemingly limitless demand for destructive resource extraction and industry leaders claiming that the modern world cannot function without these practices. One thing is certain non-renewable resources are just a source that will eventually run dry.

Polysilicon or polycrystalline silicon is a high-purity form of silicon that consists of a number of smaller crystals or crystallites. It is a key raw material used in manufacturing solar modules and semiconductor chips. It is used for a wide range of applications in these end uses. Polysilicon is manufactured using the Siemens process. Furthermore, technological advances in the production process can be good growth opportunities for manufacturers. Growth in renewable energy sources is expected to increase the demand for polysilicon over the forecast period, as it will increase the manufacturing of solar cells.

氢的制取主要有三种较为成熟的技术路线。一是以煤炭、天然气为代表的化石能源重整制氢；二是以焦炉煤气、氯碱尾气、丙烷脱氢为代表的工业副产气制氢；三是电解水制氢。据中国氢能联盟，氢能产业发展初期，增量侧，将以工业副产氢就近供给为主；中期（2030 年），将以可再生能源发电制氢、煤制氢等大规模集中稳定供氢为主；远期（2050 年），将以可再生能源发电制氢为主。

行业基本面观察：2022 年高景气延续。供给端，2022 年产量增速较高，但下半年增速边际下降，晋陕蒙新四大产区贡献主要增量。需求端，2022年火电发电量增速出现一定萎缩，但较疫情前的2019 年仍有有较大增幅。地产拐点尚未来到，焦煤、钢铁等下游需求放缓。进口方面，俄乌冲突抑制国内进口煤，俄煤弥补一定缺口。价格与利润角度，煤炭均价大幅提升，焦炭利润水平偏低。