Adán Pino: “New Drilling Efforts Are Key to Securing the Future of Mining”

Lima, June 23, 2025. Adán Pino, president of proEXPLO 2026 and a distinguished geological engineer, stressed the need to increase the number of exploration projects reaching the drilling stage—an essential condition for improving the chances of discovering new deposits and sustaining the mining sector’s development in the medium and long term.

In a conversation with the Peruvian Institute of Mining Engineers (IIMP), Pino noted that although current figures show a significant recovery in mining investment, efforts should center on multiplying early-stage exploration projects, especially those nearing the drilling phase.

“The more projects that reach the drilling stage, the greater the probability of finding economic intercepts that lead to new discoveries. The only way to find a new mine is by drilling,” emphasized the proEXPLO president.

Pino stressed the need to broaden the base of active exploration projects, as these feed the value chain that ultimately gives rise to new mining operations. He therefore called for maintaining a long-term perspective and avoiding decisions driven solely by short-term figures.

“We are seeing a positive—but temporary—peak. We shouldn’t let the numbers cloud our judgment. The real indicator of sustainability is the growth of new exploration and expansion initiatives, not just global figures,” he added.

Promoting New Investments

As context, the Ministry of Energy and Mines (MINEM) reported that total mining investment during the first four months of the year reached US$1.443 billion, a 7.3% increase compared to the same period in 2024. Within that total, investment in mineral exploration rose by 48.9%, driven mainly by advanced-stage projects such as Zafranal and San Gabriel.

While Pino acknowledged that this progress is positive, he also cautioned that part of the growth is tied to projects in advanced stages and in the construction phase, so the figures should be interpreted carefully. “It’s likely that this trend will normalize over the next few quarters. That’s why the strategy must focus on promoting new investments in early-stage exploration and streamlining the processes required to begin drilling,” he said.

Finally, he highlighted that exploration activity in remote areas has a strong multiplier effect on local infrastructure, fostering the development of roads, reservoirs, and improved connectivity. “The story of Las Bambas is proof of that. Where there was once a second- or third-class road and a few scattered homes, there is now a developed town with significant economic activity. Every mining operation has the potential to generate positive impacts beyond the extractive sphere,” he concluded.