Peru Copper Output Climbs 3.3% in Q1

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Peru's copper and gold production reached 688,000 tonnes and 24.75 million grams, respectively, in Q1. Together, they represented US$11.61 billion in export value during January and February amid high commodity prices. China was the top destination for Peru's copper exports, while India was the top destination for gold.

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Mining Exports Up

Peru's mining output, investments and exports rose in early 2026, showing sector strength. Copper production from January to March was 688,000 tonnes, up 3.3% year-on-year. Industrial Info Resources data show 714 mining projects across Peru, amounting to investments of US$53.24 billion.

Mining company Antamina led the production charts, accounting for 20.1% of the output, followed by Las Bambas with 14.7% and Cerro Verde at 14.2%.

Gold production in Q1 totaled 24.75 million fine grams, a 3.4% drop compared to the same period last year. The largest producers were Yanacocha with 18.1% and Poderosa at 7.9% of the volumes.

Iron ore volumes remained stable throughout the quarter at 3.56 million tonnes, a 1.9% increase.

During Q1, Peru saw US$1.5 billion in investments across its mining sector, 43.7% higher than the same period in 2025.

In terms of export value, exports of metallic minerals in January and February totaled US$13.83 billion, a 59% increase from the same period in 2025. The increase is driven by the high international prices of commodities such as copper, gold, and silver driven by geopolitical tensions, operational disruptions, and strong demand.

Copper accounted for US$6.38 billion and gold for US$5.23 billion of the export total in January and February.

Peruvian mining exports make up roughly 10% of the gross domestic product and 60% of the nation's exports, representing its main economic pillar. Despite having vast mineral resources and multiple projects in operation, companies operating in the sector still face considerable administrative delay due to Peru's complex processes.

Main Export Destinations

China remained the leading destination for Peru's copper exports in January and February, taking up 74.6% of exports, followed by Japan at 6.7% and the United States at 6.1%.

China is the world's largest copper importer; the Asian giant imports about 60% of the global copper ore and produces about 45% of the world's refined copper, according to the United Nations Trade and Development (UNCTAD).

Demand for the red metal is expected to grow by over 40% by 2040, though current supply has been hampered by major operational incidents and delays in projects. Industrial Info Resources is tracking 294 Copper-related projects in Peru, amounting to US$34.98 billion.

Meanwhile, India was the main destination of Peru's gold exports, accounting for 36.2% of the exports, followed by Canada at 17% and Switzerland at 11.7%.

Industrial Info Resources is tracking 125 gold projects projects in Peru amounting to investments of US$6.37 billion.

Key Takeaways

• Peru's copper production increased 3.3% in Q1, while gold volumes dropped 3.4%.
• The value of copper exports in January and February reached US$6.38 billion, and gold US$5.23 billion.
• China is the main recipient of Peru's copper export, and India is the top destination for gold.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).