Andean Group - April 2024

PERU | Approving new mining exploration projects. On 26 March Jorge Soto, the director general of the mining directorate at Peru’s mining & energy ministry (Minem), announced that the government is aiming to approve three exploration projects every month as it bids to boost investment in the industry. In an interview with Peru’s institute of mining engineers (IIMP), Soto revealed that 28 exploration projects were approved in 2023 which he said translated to US$350m in investment. He said that there are currently 70 exploration projects valued at a total of US$560m, with nine projects already approved in the first months of 2024, cumulatively exceeding US$50m. Soto highlighted delays in companies’ executions of projects after being greenlit, stressing the importance of “good communication” in expediting authorisation for exploration (both past and present).

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