Peru leads mineral exploration with 53% of projects in new deposits.

Mining exploration in Peru is taking a remarkable turn, with 53% of its projects focused on the search for new deposits, far exceeding the global average of 23%. This trend, highlighted by Walter Tejada, president of the International Congress of Prospectors and Explorers (proEXPLO 2025), underscores the unexplored potential that the country still possesses in the mining sector. During his speech at the Fexmin meeting, organized by the College of Geologists of Chile, Tejada emphasized that this exploration strategy is not only ambitious but also necessary for Peru's economic future. The portfolio of exploration projects in Peru consists of 75 initiatives totaling US$ 644 million. Of this amount, US$ 344 million is allocated to greenfield projects, which seek new deposits, while brownfield projects, aimed at expanding extraction capacities in already operational areas, represent US$ 300 million. These figures not only reflect significant investment but also a clear focus on diversification and expansion within the mining sector. Exploration is particularly centered on metals such as copper and silver, which see an investment of US$ 445 million. However, the portfolio is not limited to these minerals; it also includes the search for zinc, iron, and critical minerals like lithium. This diverse approach could not only increase national production but also position Peru as a key player in supplying essential minerals for the global energy transition. In the Latin American context, Tejada highlighted the region's leading role in reconfiguring the global energy matrix. With 26.5% of the global exploration budget concentrated in Latin America, the region becomes a magnet for investments due to its geological wealth. Tejada added that since 1990, the subcontinent has housed 56% of the copper discovered, further emphasizing the importance of Peru and its neighbors in the metals market. Investment in mining exploration in Latin America grew by 2% in the last year, reaching US$ 3.38 billion, driven primarily by growth in countries like Chile and Argentina. However, other countries like Colombia and Guyana are also showing an increase in their investments, suggesting regional competition to attract capital to mining exploration. Additionally, there has been a notable increase in investment in lithium exploration, which reached 86% in 2023 compared to the previous year. This is particularly relevant given the growing global interest in this mineral, which is crucial for battery manufacturing and sustainable technologies. The current context of high demand for critical metals implies that interest in investing in South America will not only be maintained but is likely to continue increasing. This scenario represents a unique opportunity for Peru and other countries in the region to maximize their resources and strengthen their mining industry. However, it is important for authorities and stakeholders involved in mining in Peru to prepare to face the challenges that may arise from this expansion. Environmental sustainability, respect for local communities, and adequate regulation will be essential to ensure that this mining boom benefits all Peruvians and does not generate social conflicts. In conclusion, the future of mining exploration in Peru looks promising, with a proper focus on discovering new deposits. If investments are managed correctly and sustainable policies are established, the country could establish itself as a leader in the production of critical minerals in the next decade, significantly contributing to the economic and social development of the nation.