The Vice Ministry of Mines and Energy (VMME) and the Association of Geologists of Paraguay (AGP) have established a joint technical agenda to modernize the country's mining sector. The agreement, discussed in a meeting led by Vice Minister Mauricio Bejarano and AGP President Ana Sofía Argüello, aims to update the institutional framework, expand geological knowledge of the territory, and create more attractive conditions for responsible investment.
One of the pillars of this agenda is support for the new Mining Code bill, drafted by the VMME. The AGP has expressed backing for the initiative, which seeks to establish clearer and more transparent rules aligned with international standards. A modern legal framework is considered essential to provide predictability for projects and incorporate technical, environmental, and social criteria from their initial phases.
Another strategic point is the creation of the future Geological Survey of Paraguay, provided for in both the code bill and the National Mining Policy. The agency would be responsible for gathering, processing, and disseminating reliable information on the country's mineral potential, serving as a basis for public and private sector decisions and helping to reduce exploration risks.
In parallel, the private sector projects an optimistic scenario for investments. According to Víctor Fernández of the Paraguayan Chamber of Mining (Capami), Paraguay has the potential to attract over $2 billion in mining investments over the next six to eight years, a figure that could double or triple with exemplary and stable legislation. Fernández highlighted that the main projects awaiting prospecting and exploration are in the Eastern region, especially in Caazapá, Caaguazú, and Alto Paraná, with predominantly North American and Canadian capital.
However, there is a divergence regarding the process of drafting the new regulations. Capami criticized the lack of private sector participation in formulating the National Mining Policy, arguing that both the code and the policy should emerge from a consensus dialogue table involving all stakeholders. For the sector, a realistic, practical law with legal guarantees is a priority to seize the opportunity presented by the global energy transition and demand for critical minerals, such as titanium, uranium, and vanadium.
The sector is preparing to discuss these topics at the II Mining Forum in Paraguay, scheduled for September 30 at the headquarters of the Paraguayan Industrial Union (UIP) in Asunción. The event, under the slogan "The time is now," will focus on critical minerals and the sector's economic and social impact.