Elevating Precision in Mining Exploration in Uncertain Conditions

Q: How has Core Tech grown in an environment characterized by regulatory challenges, including a lack of concessions and limited support for exploration activities?
A: Mining is inherently a long-term investment sector, which sees returns typically within 20 to 30 years. The political and economic landscape of any country can experience significant fluctuations during this period, so investors must approach the mining sector with a long-term perspective, understanding that local conditions can improve or deteriorate. In that sense, the legal and tax stability are very important for investment attraction to a country. 

Resilience, perseverance, and a commitment to the host country are vital, as mining plays a key role in local development and economic advancement. While permitting and regulatory hurdles can present challenges, these obstacles are often temporary and can change with shifts in government or fluctuations in mineral market conditions. Being prepared to adapt quickly to these evolving circumstances is essential for sustained growth.

Q: How are market challenges influencing Core Tech’s strategies in Mexico?
A: We focus on exploration, which is a highly dynamic sector that requires numerous governmental permits. Our commitment to Mexico remains unwavering; we have been operating here for over 15 years as a Peruvian company and are focused on maintaining our long-term presence.

While some companies have exited the Mexican market, we have decided to remain in the country. It is crucial for both the population and the government to recognize that mining can coexist with environmental, economic, and social priorities, providing substantial benefits to local communities. We advocate for responsible mining practices that minimize environmental impacts while positively contributing to society.

Q: What are the main benefits clients gain from Core Tech’s partnership with Orica Technologies?

A: Core Tech prioritizes innovation, striving to deliver solutions that enhance our clients' operations. We focus on providing high-quality products, even amid strong price competition. We recently renewed our contract with Axis Mining Technology, which is now part of Orica Digital Solutions. This partnership enables us to offer a wide range of advanced technologies, not only in mining exploration but also in sectors like mining production, geophysics, hydrogeologist, oil and construction, enhancing precision in exploration.

The adoption of new technologies is a gradual process. Many countries have moved away from older magnetic instruments, yet these tools remain widely used in Mexico due to their lower cost. However, gyroscopes offer significantly superior precision and measurement speed. We are committed to educating the market about the advantages of these innovations and are confident that once users experience their benefits firsthand, they will be eager to embrace new technologies.

Q: What new solutions does Core Tech plan to introduce to the market?
A: We are preparing to launch an innovative technology that leverages nuclear resonance for hydrogeological studies, which will be especially beneficial in the lithium sector. In 2025, we will host conferences with Orica Digital Solutions to inform our clients and partners about its applications and advantages.

Q: How will Core Tech expand its market presence, and what are its expectations for Mexico in the short term?
A: Our market strategy emphasizes internationalization. While we operate in Mexico, we are also active in Colombia, Peru, and have established partnerships in Ecuador and Argentina, along with offices in Canada and Spain. We aim to expand not only through our own operations but also by exporting our products and services.

A key challenge is effectively communicating the economic benefits of mining to the general public. However, we believe that the government under Claudia Sheinbaum will recognize the potential for mining to coexist with community development, environmental respect and economic growth.

Core Tech is a Peru-based mining product developer and supplier. It offers a wide range of products, from drilling fluids to drilling equipment and spare parts.