Andina

New mining projects to drive Peru's growth

00:06 | Lima, Feb. 12.

The Ministry of Energy and Mines (Minem) reported that Peru remains one of the world's leading producers of copper and other metals. Similarly, it has strong prospects for climbing the global rankings due to its comparative advantages over other countries.

According to the General Directorate of Mining Promotion and Sustainability (DGPM), Peru has approximately 100 million metric tons of copper reserves, extracted using the most advanced technologies, making it more attractive to the global market.

Additionally, Peru offers a more solid and predictable legal framework and has strategic ports on the Pacific Ocean, facilitating copper exports to key markets such as China.

This contrasts with other countries that face logistical challenges due to their landlocked locations and inadequate infrastructure.

Minem stated that Peru is currently the world's third-largest copper producer, according to the latest edition of the Mineral Commodity Summary 2025.

Meanwhile, the Democratic Republic of the Congo has risen to second place due to an exponential increase in its copper production, mainly driven by the Kamoa-Kakula mine.

To improve its standing and regain second place in global copper production, Peru can enhance its figures by streamlining bureaucratic processes for key early-stage projects such as La Granja, Michiquillay, Cotabambas, and Haquira, which could contribute significantly to output growth.

Minem considers that production rankings are always variable, but Peru's strength lies in its solid mining industry, which ensures the country's relevance in the global market.

To maintain this advantage, it is essential to improve political stability, reduce bureaucratic hurdles, and promote new investments.

The South American country is currently undergoing a phase of mine replenishment, with projects such as Pampacancha at Constancia, Antamina's replenishment, Chalcobamba and Ferrobamba at Las Bambas, Colquijirca, and Cerro Verde, among others. These projects will extend the lifespan of major mining units.

Peru is a leading mining nation not only for its production but also for its highly-skilled workforce, specialized supplier ecosystem, and commitment to sustainability and social responsibility.

(END) NDP/GDS/JMP/MVB

Published: 2/12/2025