Peru Eyes Record Copper Production as Mining Investments Expand

January 28, 2025

Peru's copper production could reach three million metric tons annually, according to Energy and Mines Minister Jorge Montero. The Tía María project in Arequipa is progressing, with broader mining investments totaling $4.88 billion in 2024. The sector generated 230,000 jobs, producing 2.71 million metric tons of copper and $43 billion in mineral exports by November.

Thirteen mining projects worth $10 billion are being promoted through streamlined procedures and social engagement. Copper production is forecast to exceed three million metric tons by mid-2026. Efforts to formalize small-scale mining include a new law and a proposed mining fund to improve credit access and market transparency.

Progress at Tía María has advanced following adjustments to use desalinated seawater. Other key projects include Yanacocha Sulfuros, Antamina Replacement, and Cerro Verde Expansion. Increased production of gold, silver, lead, and molybdenum was reported for 2024, though copper output declined by 1.1%.

Bold headline options:

  • Peru Targets Record Copper Output Amid Mining Investment Surge
  • Tía María and New Projects Highlight Peru’s Mining Expansion
  • Peru’s Copper Sector Poised for Growth

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