How AI can accelerate mine discoveries in Latin America

11 minutes Published: September 3, 2025

This interview was originally written by Elinor Trebilcock and published in BNAmericas. Original post.

BNamericas: What is Geo AI Advisor about?

Muñoz: This platform is the culmination of more than a decade of our work dedicated to accelerating mineral exploration with data geoscience. It essentially uses AI to extract the most insights from geological and geoscientific information so that geologists and mining company executives can make better decisions.

It simplifies exploration work and increases the likelihood of accelerating discoveries, as well as boosting the profitability of exploration efforts. We have tested it on Chilean Cobalt ‘s La Cobaltera project and with other clients, already achieving tangible impacts on exploration.

BNamericas: What benefits does the use of this type of technology bring to exploration?

Muñoz: They allow exploration processes, both early and advanced, to be more efficient in terms of time and cost. If one in every 10 drill holes is successful, with these tools we achieve a success rate of 4 for every 10. We have increased drilling efficiency up to four times and can accelerate deposit discoveries by up to 25%. Instead of taking four years, it can take three.

Exploration tools are very capital-intensive, and profitability is achieved over the long term, so achieving greater effectiveness, making discoveries earlier, and entering the market to generate sales as quickly as possible are huge benefits.

BNamericas: Does it also make obtaining permits easier?

Muñoz: Since it consists solely of processing available information, there’s no need to go into the field every time you want to gather new information. Furthermore, it’s more efficient, faster, and more effective in determining where to drill and where to issue permits. Finally, there’s less impact on the environment, which facilitates obtaining permits.

BNamericas: What is the overall exploration outlook in Latin America?

Muñoz: There’s a lot of activity. A good indicator of exploration activity is the availability of drilling equipment, and a few days ago, a client from Peru told me that it’s difficult to find equipment there due to high demand. However, permitting times have lengthened in countries like Mexico and Ecuador, causing the development of new projects to come to a standstill. Most of the current exploration activity comes from brownfield projects.

There’s a lot of exploration going on in Colombia, but on a smaller scale than in Chile, Peru, and Mexico. Argentina has changed in the last two years, and today there’s interest in boosting exploration and mining in the provinces of San Juan, Mendoza, and Santa Cruz. Argentina has tremendous geological potential.

BNamericas: Is copper still the mineral that most attracts explorers in the region?

Muñoz: Copper and gold remain the main players due to the positive market outlook for these commodities, but there are also silver, iron, and cobalt projects. In Peru, there’s more diversity, including lead projects, but Chile remains heavily focused on copper, gold, and iron.

BNamericas: Do you think the increase in mining licenses in Chile will achieve its goal of boosting exploration by ending the practice of mining property owners holding their concessions for several years without developing projects?

Muñoz: There’s been an interest in prioritizing mining properties. Everyone is deciding where to invest, in order to free up concessions where they won’t invest. We’ve been collaborating with several exploration teams, providing information available on the SIGEX platform [of the geology and mining service Sernageomin] regarding mining properties, auctions, etc. The important thing is that this continues over the long term to see effective development of the projects.

BNamericas: In Chile, the confidential nature of the geological information that some explorers and companies claim has been questioned because it involves private investment and personal property.

Muñoz: This has been regulated in recent years, since geological and geoscientific information is considered a public good that must be made available to everyone. The idea is to prevent ten companies from passing through the same site without learning about it.

Legislation in advanced mining countries, such as Canada and Australia, encourages the availability of geological information, and it is even seen as a strategic asset, as it can improve a company’s market position, especially for publicly traded companies. Regulations should allow for a certain period of confidentiality, only while companies are deciding whether or not to invest in a particular location.

BNamericas: Beyond the north, where much of Chile’s mining is concentrated, is there geological potential in the central-southern region of the country?

Muñoz: They have   There have been interesting deposits that have been exploited in the past, and some are currently being exploited on a smaller scale. However, there are socio-environmental complexities. In the central and southern regions, there are larger populations and communities close to the geological potential, and the land must be shared with other industries, such as forestry and agriculture. Furthermore, vegetation makes exploration more difficult.

In contrast, northern Chile lacks vegetation, making it easier to obtain geoscientific information directly from the rock massif. However, the geological potential is present, and several companies are exploring in these regions.

BNamericas: Are you interested in developing technologies for hydrogeological lithium mining?

Muñoz: We haven’t ventured into that field, primarily because we have a product that’s in high demand in other types of mining. In Chile, Argentina, and Bolivia, there are deposits stored in fluids, with conditions different from what we’re used to.

While our technology could be applied on that scale with certain adjustments and is suitable for hard-rock lithium deposits, in Chile we still need to agree on how to harness its potential. The lack of lithium availability has been hindering project development. Other countries have advanced more quickly and are now much better positioned than Chile was 10-15 years ago, when it was the world’s leading lithium producer.

BNamericas: Are Canadians and Australians still the main players in mineral exploration in the region, or are other capitals becoming more involved?

Muñoz: Canadians and Australians are the main investors worldwide and in Latin America, but we also see a lot of local investors, including in Chile, Peru, and Mexico. In the last two years, we’ve seen more investors from India, and I think more will soon arrive from the Middle East, Asia, and Arab countries. In fact, Aramco is interested in entering the mining industry.

BNamericas: What’s missing in Latin America to effectively incentivize more exploration?

Muñoz: End legal instability, because the mining industry is very capital-intensive and requires long lead times. On average, 17 years pass between discovery and operation. The judicialization of project development often causes investments to stall, often due to changes in criteria within administrative bodies, as is the case in Mexico, Colombia, Ecuador, Peru, and Chile.

Permits are fine, but they shouldn’t involve excessive time and discretion. These issues must
be addressed because, as a region, we face the great challenge of collaborating with humanity’s progress toward a more sustainable future, with fewer emissions and better technologies for better living.