highlighted the importance of copper as a resource essential for the industry's future worldwide, highlighting that the red metal accounts for 35% of our exports and that Peru hosts large reserves, as indicated by the United States Geological Survey.
"Peru is a nation blessed with natural resources, and mining is becoming more important today due to the future need for metals, especially copper, along with cobalt, nickel, lithium, and a long list of minerals," Minister Mucho indicated during an interview with Red de Comunicación Regional (RCR).
The government official noted that copper will be the king of metals, because it is the most critical for lighting, renewable energies, electric mobility, and other multiple uses.
"This consumption is essential for the industry," he pointed out.
The high-ranking official added that worldwide there are 2.5 billion tons of copper to be extracted and another 3.5 billion tons to be discovered.
"Peru is a flagship country with 110 million tons of copper, and Chile is ranked first with almost 200 million tons, according to the United States Geological Survey," Mucho mentioned.
The Cabinet member said that, if we set our minds to it, Peru, supported by an exploration campaign, could achieve greater resources and convert them into reserves.
"Copper is currently the leader for tax revenues in Peru, the leader in exports, accounting for 35% and is what counters the U.S. dollar; if copper (value) rises, the dollar (value) decreases," he remarked.
Moreover, Minister Mucho indicated that Peru's development could be financed with copper revenues.
"Copper accounts for 72% of the entire project portfolio, and we need some US$40 billion to invest; with that amount we will be following closely behind Chile; we can even surpass it because our projects are greenfield, (meaning) new ones," he expressed.
The Minem head noted that mining production is so far higher compared to last year.