Business
Element79 Gold Comments on Peruvian Government Reform Centralizing Oversight of Small-Scale Mining Under Ministry of Energy and Mines
Vancouver, British Columbia – TheNewswire - May 22, 2025 – Element79 Gold Corp. (the “Company” or “Element79”) (CSE: ELEM, OTC: ELMGF, FSE: 7YS0) wishes to comm
About this update from Element79 Gold Corp.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - May 22, 2025 – Element79 Gold Corp. (the “Company” or “Element79”) (CSE: ELEM, OTC: ELMGF, FSE: 7YS0) wishes to comment on recent developments affecting the mining sector in Peru, where the Company’s flagship Lucero Project is located. Highlights: The Peruvian government has enacted Supreme Decree No. 009-2025-EM, transferring oversight of small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (MINEM). The deadline for the mandated Formalization of REINFO (Comprehensive Mining Formalization Registry) permit holders with mineral right holders has been extended until December 31, 2025, giving operators more time to formalize. MINEM’s Directorate General of Mining Formalization will now handle all administrative, monitoring, and enforcement processes related to mining formalization. Reform is grounded in Law No. 32213, published in December 2024. A new national traceability platform (SIPMMA) is being launched to improve transparency and monitoring of registered small-scale mining operations. The reform has raised concerns among regional governments over loss of local oversight and potential impacts on decentralized governance. Element79 Gold Corp supports centralized oversight if implemented with community engagement and regional collaboration. The Lucero Project remains a core focus, with continued efforts to formalize local artisanal miners and advance exploration toward production. The Company reaffirms its commitment to social investment and long-term community relationships in Chachas and surrounding areas. Following success in Nevada asset development and sales, Element79 Gold Corp. will reignite strategic initiatives in that jurisdiction. In May 2025, the Government of Peru enacted Supreme Decree No. 009-2025-EM, which extends the validity of the Comprehensive Mining Formalization Registry (REINFO) until December 31, 2025, and shifts responsibility for supervising small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (MINEM). Under this reform, the Directorate General of Mining Formalization within MINEM will assume exclusive responsibility for the administrative processing, monitoring, and enforcement of formalization-related matters. The cha...