MINEM SEEKS TO GIVE ECONOMIC VALUE TO ENVIRONMENTAL LIABILITIES SO THAT PRIVATE COMPANIES REUSE THEM

Jorge Soto Yen, director of Minem's Mining Directorate, announced that this year they have been working on giving value to environmental liabilities so that they can go on the market and private companies are in charge of reuse and closure.

Jorge Soto Yen, general director of the Mining Directorate of the Ministry of Energy and Mines (Minem), announced to "Diálogos Mineros", an interview space of the Institute of Mining Engineers of Peru, that by 2024 they will be working on a new formula that exactly determines the volumes of mining environmental liabilities (PAM) and allows them to be given an economic value.

"We are already talking about reusing these liabilities and we are working with International Cooperation, Ingemmet and more, because we want to give value to these liabilities," said Soto Yen.

Mining environmental liabilities refer to waste produced by abandoned or inactive mining operations, which without adequate treatment represent a risk in various ways. Given that there are cases that are many years old, where it has not been possible to know the person or persons responsible, the State is in charge of these spaces.

Benefit for the State

To this end, the specialist stated that, although these liabilities are already being reused in a certain way, through the Law on the Reuse of Environmental Liabilities, such as the manufacture of bricks or more. However, this rule must be improved, according to Soto's statements.

"There are liabilities that could be reused and that are less impactful, from the point of view of pollution, and, from a positive point of view, can reduce costs to the State," he added.

Soto Yen indicated that this new procedure can take place in the medium term. "We have to change the theme of not only having the liabilities and the State taking charge; but also thinking about financial issues and thus the State reduces this investment in closing these liabilities. Rather, let it be a private company that that reuse it, make a better closure, and that there may also be benefits for the adjacent communities," he explained.

Regarding the date of these studies, the Minem executive stated that they are working on this information and, this year 2024, they will have defined the volumes of tailings or waste deposits that have an economic value. "At least know what volume there is to be able to continue studying them, define what value they have and have them go on the market," he commented.

Model for Latin America

Soto Yen explained that this year the State has allocated close to S/ 88 million for the investment of mining environmental liabilities. In total, Peru has invested S/ 800 million in the PAMs. "If we make a comparison with Latin America, we are a model for how we have been managing environmental liabilities. Let us remember that one of the first regulations was given here in Peru," he stated.

Finally, the official commented that last year at a conference in Germany, countries such as England, Australia, Canada and Spain recognized that Minem and the Peruvian State truly care about liabilities. This is due to its high investment and its extensive regulations on the treatment of PAM.

Source: Newsletter IIMP