• There is a greater interest in concessions in Puno, Moquegua, Cusco, and Arequipa due to the presence of lithium in those regions. INGEMMET is also exploring the potential presence of graphite in Áncash.

Henry Luna, the executive president of the Geological, Mining, and Metallurgical Institute (INGEMMET), said that the institution expects to end 2023 with more than 6,500 mining concession applications nationwide. In 2022, they received 6,826 applications.

At PERUMIN 36, the official mentioned that there has been a greater interest in concessions in Puno, Moquegua, Cusco, and Arequipa due to the presence of lithium in these regions. "These applications are linked to concessions granted for lithium exploration, as in the case of Macusani," he noted.

Luna added that INGEMMET has also identified open areas in Moquegua, Puno, and Cusco where interesting values of the white metal have been found. They will be deepening their studies in these areas for approximately five years by conducting geophysical and geochemical prospecting. "If the studies are favorable, the areas will be transferred to Proinversión for international promotion," he explained.

According to INGEMMET, only 1% of the mining concessions area is being actively exploited, while 0.3% is being explored. This means that only 1.3% of the concession area sees some form of mining activity.

"We are concerned about this low percentage. It would be important for those applying for concessions to also commit to investing in exploration or prospecting because Peru is at a disadvantage," he remarked.

The companies applying for these concessions mostly belong to the general regime, which includes medium and large-scale mining, and to a lesser extent, small-scale and artisanal mining.

On another note, Luna reported that they have conducted studies in Áncash this year to identify areas with graphite potential. "We have identified interesting areas, and we believe that if this is confirmed, investors could be interest in graphite in the future," he pointed out.

Like lithium, graphite is a strategic element that is currently in demand internationally because it serves similar purposes to the white metal.