MINERA ANDINA DE EXPLORACIONES SAA

What MINERA ANDINA DE EXPLORACIONES SAA does

Minera Andina de Exploraciones S.A.A. (MINANDEX) is a Peruvian mining exploration and prospect-promotion firm established on September 20, 1996 as a spin-off from San Ignacio de Morococha S.A. (SIMSA). The company was capitalized with 919,195 hectares of mining rights, comprising both legacy concessions and additional rights identified by SIMSA using satellite imagery to detect "color anomalies" indicative of mineral alteration zones. MINANDEX serves third-party investor companies seeking early-stage exposure to Peruvian mineral prospects, acting as a junior explorer and farm-out partner rather than a mine operator.

MINANDEX's core offering is a two-stage mining exploration service. In stage one, geological field brigades conduct mapping and screening studies to delineate areas of interest and drop uneconomic ground. In stage two, selected areas undergo specialized geochemistry and geophysics analyses, with the company typically partnering with investor companies to fund advanced phases including drilling programs that test the mining potential of each prospect. Revenue is generated by promoting developed prospects to investor partners under pre-agreed contractual terms, with terms calibrated to participation levels in subsequent exploration success cases.

The company is a Peruvian sociedad anónima abierta (S.A.A.), a publicly registered corporate form that files with the Superintendencia del Mercado de Valores (SMV), and is headquartered in Santiago de Surco, Lima. The most recent documented capital event is a November 2018 capital increase of up to US$500,000 via new cash contributions distributed in three subscription rounds. The board of directors for the April 2025 – March 2026 period is dominated by the Arias Vargas family, with Daniel Antonio Arias Vargas serving as Chairman and General Manager and Miguel Fernando Arias Vargas as Vice Chairman.

Name

MINERA ANDINA DE EXPLORACIONES SAA

Legal name

Minera Andina de Exploraciones S.A.A.

Website

https://minandex.com.pe

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Short description

Minera Andina de Exploraciones S.A.A. (MINANDEX) is a publicly registered Peruvian mining exploration firm that identifies and develops mineral prospects on a 919,195-hectage concession base, then promotes them to third-party investor companies for advanced exploration and drilling partnerships.

Ownership category

akta.pro rank

Product category

Mining Exploration Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (213)

SIC

Metal Mining (1000)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mining exploration services
• Satellite imagery analysis
• Mineral prospect identification
• Geological field studies
• Mining rights promotion

Headquarters

HQ city

Monterrico

HQ country

Peru

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Others

Revenue model

1. Project Development and Promotion: The company conducts exploration of mining prospects and promotes them to third-party investors for further development. Revenue is generated through associating with investor companies for advanced exploration phases, including drilling programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

MINANDEX conducts mining exploration using satellite imagery analysis to identify color anomalies indicative of mineral alteration areas, followed by field geological studies and specialized geochemistry-geophysics analyses. Identified prospects are then promoted and transferred to third-party investor companies for advanced exploration phases, including drilling programs, under co-development or licensing arrangements.

Product overview

MINERA ANDINA DE EXPLORACIONES SAA (MINANDEX) is a single-offering mining exploration company. The company was established in 1996 as a spin-off from San Ignacio de Morococha S.A. (SIMSA) to continue and promote mining exploration activities. MINANDEX operates a unified mining exploration service that combines satellite imagery analysis, field geological studies, and specialized geochemistry-geophysics research to identify and evaluate mineral prospects for potential third-party placement or development.

Differentiator

Problem solved

Functional benefit

Products and services

• Mining Exploration Services

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators1 record

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Hochschild Mining plc: Larger precious-metals miner with operating mines and active exploration in Peru. Comparable as a Peruvian incumbent that competes for the same prospect pipeline and partner capital MINANDEX targets.
• Fortuna Silver Mines Inc. Silver-gold miner with Peruvian operations and continuous brownfield exploration. Comparable as a Peru-rooted incumbent that often partners on or acquires junior exploration prospects.
• Compañía de Minas Buenaventura S.A.A. Major Peruvian precious-metals miner with diversified operations and an extensive exploration portfolio. Comparable as a large S.A.A.-listed Peruvian mining incumbent operating in the same regulatory and market context.
• Minsur S.A. Peruvian miner (tin/gold) with internal exploration and partner-funded prospect pipelines. Comparable as a Peru-based incumbent that shares the same exploration-promotion ecosystem.

Emerging players

• Battery Mineral Resources Corp. Critical-minerals exploration company with Peruvian assets; shares a director with MINANDEX (Héctor Arenas Meza). Comparable as an emerging peer targeting battery- and base-metal prospects in Peru.

Direct peers

• Bear Creek Mining Corporation: Junior mining company focused on Peru, advancing precious- and base-metal exploration projects. Highly comparable to MINANDEX as a Peru-listed exploration vehicle that promotes prospects to investors and partners for drilling.
• Southern Peaks Mining LLP: Peru-focused mid-tier miner with active exploration and partner relationships. Comparable to MINANDEX in the Peruvian mid-tier mining and exploration-promotion segment.
• Regulus Resources Inc. Explorer with flagship copper-gold projects in Peru. Comparable to MINANDEX in terms of Peru-centric exploration footprint and the use of staged field work plus third-party investor engagement.
• Compañía Minera Poderosa S.A. Peruvian gold producer and active explorer with overlapping board members (the Arias Vargas family has historically held director seats). Comparable as a Peru-rooted mining operator with parallel exploration activities.
• Candente Copper Corp. Peru-focused copper exploration and development company with a similar early-stage prospect model. Comparable because it operates in the same Peruvian mining-rights ecosystem and relies on partner-funded drilling.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/minera-andina-de-exploraciones-s-a-a-

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MINERA ANDINA DE EXPLORACIONES SAA