Peru Plans 11 Mining Projects Worth US$8 Billion

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Peruvian leaders expect 11 mining projects to begin construction between 2025 and 2026, totaling US$8 billion of investment. Five of the mines focus on copper extraction, another three on zinc and the remaining three on gold, iron ore and silver. The mines are located in the regions of Ancash, Puno, Huanuco, Cajamarca, Apurimac, Lima and Arequipa.

The projects to be developed include the replacement of capacity at five mines:

• Minsur's Antamina mine in Huaraz, Ancash; see plant profile
• Bear Creek Mining Corporation's Corani mine in Bella Union, Arequipa; see plant profile
• Compania Minera Raura SA's Raura mine in Corani, Puno; see plant profile
• Minera Coimolache S.A.'s Tantahuatay mine in Hualgayoc, Cajamarca; see plant profile
• Minera Las Bambas SAC's Las Bambas mine in Cotabambas, Apurimac; see plant profile

The six remaining projects are expansions to existing capacity at:

• Compania Minera Lincuna's Huancapeti mine in Recuay, Ancash; see plant profile
• Volcan Compania Minera SAA's Romina mine in Huaral, Lima; see plant profile
• Southern Peru Copper Corporation's Tia María mine in Cocachacra, Arequipa; see plant profile
• Teck Resources Limited's Zafranal mine in Huancarqui, Arequipa; see plant profile
• Jinzhao Mining Peru SA's Pampa de Pongo mine in Bella Union, Arequipa; see plant profile
• Molle Verde SAC's Trapiche mine in Juan Espinoza Medrano, Apurimac; see plant profile

According to Peru's Ministry of Mines, these projects are expected to be operational by 2029.

Peruvian President Dina Boluarte has been developing new permit procedures to attract more mining investment. Her goals were echoed by Jorge Montero, the new Minister of Energy and Mines, who said he wants to "help reactivate projects that generate benefits for the country, [because] mining is a driver of economic development and a provider of important projects."

By the end of last year, the South American nation had a mining portfolio of 51 projects, including the 11 previously mentioned, totaling US$54.5 billion of investment. Most of the projects were in the feasibility and pre-feasibility stages, while six were under construction.

Peru is one of the world's three largest copper producers, but Boluarte's government is seeking to attract investment in the exploration of other minerals as well. Overall, Peru had a mining exploration portfolio of 75 projects by the end of the year, worth US$644.2 million.

Of those exploration projects, 40 concentrated on copper, nine on zinc, two on lithium, 12 on gold, and the remaining on other metallic materials.

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