For more than 20 years, Geotec S A, a Peruvian mineral exploration contracting firm, averaged six rigs dotted across Peru at any one time. The company was drilling for gold, copper and other metals. During 1992, the company drilled a scant 17,367 m (57,000 ft). Today, though, Geotec SA has 38 rigs operating. During 1994, the company drilled 110,291 m (361,800 ft). And, for 1995, the company has passed that figure and nearing its capacity. Geotec's change in fortunes mirrors the unprecedented exploration rush under way in Peru. Mining firms will spend about 150 US dollars million on exploration during 1995, up from 85 US dollars million last year, according to the Peruvian government. And exploration investment is expected to increase to about 300 million dollars during 1996.
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