Arequipa, JULY 6 2022 Víctor Gobitz: Mining Law should promote more exploration of our country’s geological potential

During the launch ceremony of PERUMIN 35th Mining Convention at the Cerro Juli Convention Center, in Arequipa, Víctor Gobitz, member of the organizing committee, reflected on the General Mining Law, and emphasized that “if there is something to change in the law, the change should promote more exploration.”

Even though the law dates back to 1992, Gobitz claimed that this is not reason enough to think that it does not work and needs to be modified. “The fact that a law is 30 years old does not mean that it needs to be changed,” he clarified.

Nevertheless, if possible changes are considered, he deemed it important for the law to be oriented to promoting further mining exploration that will allow us to tap into the geological potential of our country, given that the current legislation has categorized exploration as an activity with a high risk of environmental impact which requires some paperwork and processes that tend to drag on.

“The environmental impact is minimal, but the financial risk is very high; not all explorations turn out to be a mine,” stated Gobitz.

He went on to explain that within the mining sector they believe that it is necessary to promote exploration and thereby keep the growth of this industry alive. Mining is Peru’s biggest taxpayer and brings in capital that could help close the existing socio-economic gaps found in the regions.

He also commented that the contribution of mining could bring many more benefits if it were adequately managed by the State and state bodies, which are the ones that pull in taxes and have the obligation to execute the budget in projects in favor of the population.

“The pivotal issue is how these funds are used to narrow the gaps that still remain in the country,” he said.

Finally, he indicated that the solution to close the gaps cannot be altruistic, as gaps will not be plugged with extraordinary cash bonuses; instead, the solution lies in understanding what the potential of our country is—in this case, Peru is a mining country—and integrating the markets to generate more resources which can translate into sustainable benefits for the population.

This interesting topic, among others, will be addressed at PERUMIN 35, the most important mining convention in Latin America, which has managed to position Peru as a meeting point for international delegations, government authorities, company representatives, mining professionals and technicians, and scholars, to discuss major issues relating the mining industry.

PERUMIN 35th edition will be held in-person at the Cerro Juli Convention Center, in Arequipa, from September 26 to 30.

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