announced that the signing of a memorandum between Peru and Chile aims, among other objectives, at Project 51—an initiative for both countries to supply 51% of the world's copper over the next 15 years.
Likewise, the project seeks to make a leap toward the industrialization of the red metal, with a view to supplying high-tech industries, including NASA.
"The goal is not only to export concentrates or cathodes but also to produce and sell value-added copper products directly to car manufacturers, NASA, and high-tech companies worldwide," he stated.
During Perumin 37, the government official underscored that companies operating in Peru and Chile are already working in an integrated manner, which will make it easier to achieve the goal of supplying more than half of the copper consumed worldwide.
"Imagine that strength: two countries with coasts on the South Pacific, both leading copper producers, could guarantee 51% of the world's supply in 15 years. This will position us as strategic players in the energy transition and electromobility," Montero said.
The minister emphasized that this alliance with Chile aims to promote the metallurgical transformation of minerals so that Peru ceases to be merely a raw material exporter and begins selling finished copper products.
"We want our minerals to reach end customers as higher-value products," Montero pointed out.
"It is the step we still need to take to close the loop of the production chain and establish ourselves as leaders in modern mining and innovation," he concluded.