Mining claim requests sink 46.5% in 2009 - Peru

Peruvian geology, mining and metallurgy institute Ingemmet received 5,235 mining claim applications in 2009, down 46.5% from 9,793 applications in 2008 as the global economic crisis wilted mining stocks and financing options.
In terms of area, 2009 requests covered 2.34Mha compared to 4.93Mha the year before, the Ingemmet figures show. The 2009 figures were also lower than those recorded for 2006 and 2007, but surpassed the 5,052 requests over 2.25Mha made in 2005.
In December 2009, requests totaled just 290, the second lowest of the year after June's 281 and down 16.2% year-on-year. However, looking back at 2005-08, December was also the month of fewest applications submitted every year.
Peru captured 5% of global exploration spending of US$12.6bn last year, according to the Halifax-based Metals Economics Group, which has estimated that 2009 budgets sank to US$8.4bn.