Lima, December 06, 2023. Walter Tejada, president of the XIV International Congress of Prospectors and Explorers – proEXPLO 2025, stated that looking ahead to next year, Peru must aim to put in value its mining potential through competitive regulations for exploration.

“We should seek to make our exploration portfolio much larger than the current one. With our geological potential we should have double or more exploration projects than what we currently have,” he said in an interview for the Peruvian Institute of Mining Engineers (IIMP).

It should be noted that we currently have 70 projects in the mining exploration portfolio with an investment of US$ 520 million. Of this total, 39 projects are being executed or to be executed, according to the Mining Statistical Bulletin of September 2023.

Regarding the recent approval of the Ministry of Energy and Mines (Minem) to the environmental certifications for ten exploration projects, Tejada considered it to be good news and an important milestone; however, after the approval of the Environmental Management Instrument (IGA), further permits must be processed before the exploration project can begin.

“On average, the total duration of permits in Perú goes from 14 to over 24 months counted since the IGA is filed, which is much higher than the international average,” he explained.

For this reason, Tejada stressed that it is necessary to speed up the entire chain of procedures so that the projects move forward. He especially recommended targeting the root causes that lead projects getting stuck, to make the necessary changes and to avoid having to look for temporary solutions to ‘unlock’ them later on.

Mr. Tejada also explained that exploration is an activity that takes investment to remote areas of the country, and it has a very low or even zero environmental impact, therefore it is urgent to simplify and shorten the time to get permits following the nature of the activity.

He added that it is also important to have political stability and a context with social peace, which allows to reach a consensus on the importance of mining for the development of the country.

“Once these conditions are created, the investment in mining exploration will multiply. I am confident that we can achieve this if the government and the industry work together jointly and transparently,” he said.

About proEXPLO

The International Congress of Prospectors and Explorers – proEXPLO has been organized by the IIMP since 1999 and it stands as one of the main geological mining events in Latin America. Its 14th edition will be held in 2025, chaired by Walter Tejada, Exploration Manager of BHP in Peru.