Element79 Gold (CSE:ELEM) is closely watching the Peruvian government’s recent changes to oversight of small-scale and artisanal mining, believing it may lead to improved regulatory clarity and operational efficiency. Supreme Decree No. 009-2025-EM transfers oversight from regional governments to the Ministry of Energy and Mines. Element79’s Lucero Project, a past-producing gold and silver mine in Peru, is a core asset for the company.
CEO James Tworek stated the company views enhanced regulatory structure and centralized oversight as potentially beneficial. The deadline for Comprehensive Mining Formalisation Registry permit holders has been extended to December 31, 2025. The Ministry of Energy and Mines’ Directorate General of Mining Formalisation will handle administrative, monitoring, and enforcement. A new national traceability platform (SIPMMA) is being launched to improve transparency. Element79, with a market capitalization of C$16.2 million, says the Lucero Project remains a core focus. Between 1998 and 2005, Lucero reported annual production averaging about 20,000 ounces of gold and 435,000 ounces of silver.
