Lima, August 16, 2024.Peru currently has mining exploration projects underway or about to start for a value of US$ 253 million, according to the Mining Exploration Project Portfolio 2024 of the Ministry of Energy and Mines (MINEM). This figure was highlighted by Walter Tejada, president of proEXPLO 2025, during his speech at the recent Jueves Minero (Mining Thursday) organized by the Peruvian Institute of Mining Engineers (IIMP).

Tejada also highlighted that the percentage of exploration projects under execution in the country has shown a significant increase, going from 22% to 39% in just one year. “Investing in exploration is strategic because it guarantees mining resources and extends the useful life of mines,” he said.

It is important to mention that this portfolio of the Ministry of Energy and Mines has a total estimated value of US$ 644 million, distributed in 75 projects that are mainly copper projects.

Latin America continues to consolidate its position as an attractive region for mineral exploration. In 2023, investment in the region grew by 2% to US$3.38 billion, despite a 3% reduction in the overall exploration budget. Chile and Argentina were the countries with the highest growth rates in the region.

Demand for minerals

World demand for minerals continues to rise. It is estimated that in the coming years society will need twice as much copper and steel, and up to four times as much lithium. “The world requires more minerals to meet its needs, but we are not discovering new deposits at the necessary speed,” warned Tejada.

About proEXPLO

The International Congress of Prospectors and Explorers - proEXPLO has been organized by the IIMP since 1999 and is one of the main geological-mining meetings in Latin America. Its fourteenth edition will be held from May 5 to 7, 2025 at the Lima Convention Center, chaired by Walter Tejada, Exploration Manager of BHP in Peru, and under the theme “Discovering mineral resources for a better world”.

proEXPLO 2025: Discovering mineral resources for a better world