on Tuesday affirmed that the new portfolio of mining exploration projects for this year amounts to US$506 million.
The high-ranking official specified that this list includes 60 exploration investment projects, each of them worth over US$1 million.
"Besides, to these projects we can add another group that is included in our mine construction portfolio worth US$134 million that will continue with their exploration work, which gives us a total of US$640 million in exploration for the next two years," he highlighted.
The Cabinet member commented that —given the impacts of the COVID-19 pandemic— there was a significant reduction in explorations last year, because these activities were not allowed in 2020.
"In 2019, we registered investments worth US$357 million in mining exploration, while in 2020 an investment in this concept valued at US$223 million was registered," he explained.
Investments in 2021
"This year's investment, as in general every year, is made up of an investment in the maintenance of mines; that means, to maintain production all mining companies must invest every year, some more, others less; this includes the renewal of their equipment," he detailed.
The minister specified that —during the pandemic— this investment and sustainability base was reduced to almost US$2 billion, which in normal times is close to US$3 billion.