Although investments in mining exploration decreased worldwide by 10%, according to estimates by Eng. Miguel Cardoso, vice president of the Peruvian Institute of Mining Engineers (IIMP), the decrease in Peru has been greater, and this draws attention to the Peruvian case, where a declining trend was already noticeable in recent years.

For the second consecutive year, the largest amount of investment in exploration corresponded to Compañía Minera Poderosa, the second largest gold producer in Peru, in 2020. It was followed in importance by Cia. de Minas Buenaventura, the second largest silver producer, and Consorcio Minero Horizonte, the sixth largest gold producer in 2020.

This is one of the lowest amounts destined to explorations in the last decade, something that generates concern in the mining sector, since exploration is the beginning of the mining productive process. This occurs in a context in which mining experts have been anticipating that we are facing the beginning of a cycle of high demand for minerals in the world.

In fact, during his recent participation in the Mining Engineering Week, Steve Enders, head of the Mining Engineering Department at the Colorado School of Mines, said that "We will see a great demand for metals and minerals as we have never seen before and the challenge is to offer a workforce to meet that demand", he said.

During the launching of the 12th edition of the International Congress of Prospectors and Explorers (proEXPLO 2021), the president of proEXPLO 2021, Enrique Garay, highlighted the importance of exploration to give continuity to our mining industry, which will be fundamental for the future of the country, and the economic reactivation after the pandemic.

"Unfortunately with the price of gold, at 1850 dollars an ounce, and copper, at 8000 dollars a ton, we have no new projects. They have all been discovered 15 years ago," the expert said.