He Ministry of Energy and Mines (Minem) reported that the Mining Exploration Project Portfolio for September was reduced from 74 to 70 projects compared to its update in March, a month in which an investment of US$596.1 million was expected, but which is now around US$520.6 million. .
Through the Mining Statistical Bulletin (BEM), the General Directorate of Mining Promotion and Sustainability specified that this reduction is due to the exit of exploration projects due to “unfavorable results in procedures and adjustments in the investment amount.” The new portfolio is distributed in 16 departments of the country.
The 4 projects that were no longer considered were El Dorado, La Paccha, Proyecto S and San Martín. In total, US$46.2 million left the portfolio, and the readjustment of investments represented a cut of US$29.2 million.
However, 10 projects that were in the evaluation phase of the Environmental Management Instrument and/or Preliminary Prior Consultation Evaluation have already begun authorized exploration activities, representing a joint investment of US$78.8 million.
On the other hand, 14 new potential projects are presented to be considered in the 2024 portfolio, for US$85.3. These are: Atalaya, Azulccacca, Bordebamba, Cobreorco, Colpayoc, El Padrino, Huatana, Huilacollo, Nikolauz, Qanqawa, Qoya, Sallahue Norte, Tassa and Willay.
None are large scale. Of the 14 potential exploration projects, the most outstanding in terms of investment amount are: Atalaya (US$43.1 million) and El Padrino (US$7.9 million), both projects located in Áncash.
Source: Larepublica
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