There have been no significant discoveries in the last decade.
Mining companies must rely on three pillars: technical, political, and economic-financial stability.
Geological Engineer Dr. Alberto Ríos, Director of Alpha Mining, emphasizes the need for the mining industry to operate as an integrated ecosystem. He advocates collaboration between small, medium, and large-scale mining operations rather than allowing them to function independently with conflicting interests. Alpha Mining manages significant prospects, some with potential for large-scale mining. Dr. Ríos calls for renewed focus on exploration activities, which have been neglected in recent years, and urges the government to expedite the approval of Environmental Impact Studies (EIS) and other essential permits.
Below is the full interview with the distinguished Peruvian geologist:
Engineer Ríos, how long has Alpha Mining been operating in the market?
- We established the company in 2014. Over the past six years, we have worked to consolidate Alpha Mining into a competitive player in the market, leveraging the combined efforts of myself and my partner, who is also a geologist.
We formed a strategic alliance with Quántica Minefinders, a company with a background in diverse investment sectors such as agriculture, fisheries, mineral storage, and, more recently, mining. Although Quántica faced some initial challenges in the mining sector, they sought our technical expertise in mineral geological exploration, enabling us to build a strong strategic alliance.
On what foundations should mining companies build their operations?
- In my view, mining companies must be built on three key pillars:
1. Technical Expertise – This is fundamental to the success of any mining operation.
2. Political Acumen – In today’s world, political strategy is essential for navigating bureaucratic processes, negotiations, and stakeholder relationships.
3. Economic-Financial Stability – Even the best technical project will struggle without sound financial backing and economic viability.
Thousands of excellent projects exist in Peru, but they are all competing for resources and investment.
Can you share more about the Huabalito Project in Piura?
- The Huabalito Project has the potential to become a large-scale mining operation. It is a porphyry system with gold, copper, and molybdenum mineralization. We are close to securing international financing to conduct a geophysical survey and carry out 3,000 meters of diamond drilling. Discussions with investors are in advanced stages.
Our partners at Quántica Minefinders operate a gold leaching plant in Las Lomas, Piura, which processes ore from local miners. This facility is just an hour away from our project, and we are also near the well-known Tambo Grande project.
What is the local community’s perspective on mining in the region?
- In recent years, attitudes have improved significantly. Small-scale artisanal mining has shifted local perspectives, paving the way for acceptance of larger-scale mining activities and both national and foreign investment.
Artisanal miners play a crucial role as the industry’s pioneers, opening the door for larger companies to bring in advanced technology and resources. Their contributions deserve recognition and support from medium and large-scale mining operations.
Can you provide an update on the Katta Project in Lambayeque?
- The Katta Project shows great promise. Located near the Lambayeque-Cajamarca border, it lies just north of the Cañariaco project. It is another porphyry deposit with surface anomalies of copper, gold, and molybdenum.
We are in discussions with foreign mining companies interested in partnering on this project. Surface anomalies indicate copper grades of 1-2% and up to 2 g/t of gold, suggesting a deposit exceeding 300 million tons. This area is part of one of the most favorable copper porphyry belts in Peru.
What progress has been made at the Antaorco Project in Ancash?
- The Antaorco Project, located near the Marañón River, is a copper deposit with gold, nickel, and cobalt anomalies. Although the area is remote and has limited accessibility, geophysical surveys have revealed significant sulfide content.
Local communities, often overlooked by the government, have shown support for mining activities due to the potential for job creation and economic improvement.
What is the potential of the Oro de Olmos Project?
- Oro de Olmos is a low-sulfidation vein system in northern Peru, with gold grades ranging from 4 g/t to 12 g/t. It has a vein trend extending over 4 kilometers and includes five primary veins.
We plan to advance exploration through trenching and pitting to better define the continuity of the mineralization. We are also seeking a small-scale mining partner to help us bring this project into production.
What are Alpha Mining’s plans for 2021?
- Our primary goals for 2021 include developing the Oro de Olmos Project, securing financing for Huabalito, and conducting further exploration at Antaorco. For the Katta Project, we aim to find partners capable of undertaking large-scale exploration.
We remain optimistic about overcoming challenges and may add other high-potential projects to our portfolio.
You are set to participate in ProExplo 2021. Can you share more about this?
- Yes, at the invitation of the Organizing Committee led by Eng. Enrique Garay, I will present the projects discussed here in greater detail during ProExplo 2021.
What final thoughts would you like to share?
- Despite the challenges we face, we must prioritize geological exploration. Without new discoveries, we cannot replace mines nearing the end of their productive lives. Mining is a non-renewable activity, and timely exploration is critical to the industry’s future.
Additionally, the government must expedite EIS approvals and simplify permitting processes to enable faster project development.
Alpha Mining: A Peruvian Junior Exploration Company
Alpha Mining was founded by geologists Alberto Ríos Carranza and Julio Torres Nieto, whose shared passion for mineral exploration led to the company’s establishment. With a mission to discover high-potential metallic mineral deposits in Peru, Alpha Mining aims to create value for its stakeholders through efficient, profitable, sustainable, and socially responsible operations. Over the past four years, the company has been actively conducting exploration activities, contributing to the Peruvian mining sector through the identification of promising gold and copper deposits.