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Peru: Copper production to expand 27% by 2022

13:38 | Lima, Sep. 19.

Peruvian copper production will expand 27% by 2022, underpinned by the progress and start of operations of mining projects, especially in the country's southern area, Energy and Mines Minister Francisco Ismodes projected Thursday.

"Concerning the geological and mining potential, we know our country is the world's second-largest producer of copper, and we have improved in the last four years," the official stressed.

According to the cabinet member, 50% of national copper production is located in the southern areas of Peru, explaining this figure will increase, as the portfolio's projects make progress.

Geological potential

Likewise, Ismodes indicated that the Inca country is one of the main producers of zinc and lead, which reaffirms the geological potential that must be taken advantage of.

"The Fraser Institute's survey pointed out Peru has a great geological potential and ranked it in the 8th position," he added.

However, the minister indicated that —although the Inca country holds the 8th position in geological potential— it is ranked 37th in political perceptions. Thus, it holds the 14th spot (average).

"Without any doubt, there is an improvement opportunity in order to enter the Top Ten of the Fraser Institute's Competitiveness Ranking," the minister said.

Remarks were made during the 34th edition of Perumin, the world's second-largest mining convention taking place in Peru's southern city of Arequipa.

(END) CNA/DTK/MVB

Published: 9/19/2019

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Peru: Copper production to expand 27% by 2022

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