The resurgence of metal prices in 2017 has sparked a renewed wave of financing and exploration activities among junior exploration companies worldwide. Peru, a country known for pioneering country sponsorship within the Toronto gathering, has taken full advantage of this trend by sending a robust delegation to the recent PDAC show. Led by Vice-President Martín Vizcarra, the delegation showcased Peru’s commitment to attracting investment in exploration and expanding its share of the global exploration budget. With exploration companies venturing into diverse geographical locations across Peru, the nation is tapping into its untapped mineral riches.

Peru solidifies its position as the second-largest producer of copper globally, driving numerous exploration projects across the country. Regulus Resources, for instance, continues to focus on its AntaKori copper project in Cajamarca, with collaborative exploration efforts with Coimolache, a joint venture of Southern Copper and Buenaventura. The project has demonstrated promising results, expanding the known mineralization and providing growth potential. Kaizen Discovery’s Pinaya project in the south of Peru and Chakana Copper’s Soledad project in Ancash also highlight the country’s dynamic junior sector and its appeal as a copper exploration destination.

Bear Creek Mining’s Corani project, following its arbitration victory against the Peruvian government, presents a significant silver deposit with substantial base metal content. The company aims to optimize the project’s capital expenditure and commence construction in the near future. Tinka Resources, on the other hand, has witnessed a substantial increase in its Ayawilca zinc resource, encouraging further drilling campaigns to enhance the project’s economics. These developments in the silver, zinc, and lead sectors highlight Peru’s potential to become a significant player in these commodities.

Lupaka Gold has shifted its focus to the Invicta gold-copper polymetallic underground project, intending to generate cash flow by initiating mine development and processing the ore at a toll milling facility. The company’s plans involve incremental expansion and investing in on-site infrastructure, allowing for increased production and operational autonomy.

The Sechura basin in Peru has garnered attention from junior companies due to its strategic location, mineral richness, and existing mining operations. Focus Ventures’ Bayovar 12 project, with its highly reactive phosphate rock, presents opportunities for phosphate fertilizer production, including the production of elemental phosphorus and coated phosphate rock. GrowMax Resources, operating in the same region, explores the development of a sulphate of potash (SOP) project alongside its near-surface phosphate discovery. While the SOP project requires optimization, the phosphate deposit holds immense potential for future development.

Peru’s mineral exploration industry is experiencing a renaissance, driven by the recovery of metal prices and increased financing for junior exploration companies. The nation’s diverse geological landscape and rich mineral resources make it an attractive destination for exploration activities. With notable advancements in copper, silver, zinc, lead, gold, and fertilizer sectors, Peru is well-positioned to capitalize on the growing global demand for minerals and contribute to the sustainable development of its mining industry.