Peru Expects $11.3 Billion Investment for 12 Mining Projects

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--The Peruvian government expects 12 new mining projects to begin construction across several provinces in 2025 and 2026, worth approximately US$11.3 billion. Among the developments are five copper, two zinc, two silver, one gold, one iron and one lead project.

Seven projects are expected to begin construction in 2025, with investments totaling investments of US$3.7 billion. The developments included are:

• San Rafael Reposition in Puno. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for the project report.
• Tantahuatay Reposition in Cajamarca. Click here for the project reports.
• Colquijirca Reposition in Pasco. Click here for the project reports.
• Raura Reposition in Huánuco. Click here for the project reports.
• Tía María in Arequipa. Click here for the project reports.
• Corani in Puno. Click here for the project reports.
• Huancapeti Expansion in Áncash. Click here for the project reports.

In 2026, five more projects are projected to start construction, worth US$7.6 billion, for the following:

• Pampa de Pongo in Arequipa. Click here for the project reports.
• Zafranal in Arequipa. Click here for the project reports.
• Optimization of Cerro Verde in Arequipa. Click here for the project reports.
• Huaron expansion in Pasco. Click here for the project reports.
• Ferrobamba reposition in Apurimac. Click here for the project report.

The Tia Maria, Corani, Pampa de Pongo, and Zafranal projects are for the development of new mines, anticipated to come online in the next few years. Three represent the largest investments until 2026: Zafranal (US$1.9 billion), Tia Maria (US$1.8 billion), and Pampa de Pongo (US$1.7 billion).

Zafranal and Tia Maria are expected to add a copper output of 126,000 tons for 19 years and 120,000 tons for 20 years, respectively, while the Pampa de Pongo mine is forecasted to produce 22.5 million tons per year.

Peru's portfolio this year comprises 67 projects, with combined investments of US$64 billion. From those, 33 are greenfield developments, while the remaining 34 are brownfield projects.

Between January and July, Peru recorded mining investments of US$2.8 billion. Meanwhile, copper output for the first eight months of the year stood at 1.8 million tons, representing a 2.6% year-over-year increase. Gold production during that same period was 69.9 million fine grams, 1.4% lower compared to the 2024 volumes, while zinc output stood at 987,000 tons, an increase of 16.1%.

In September, Peru hosted PERUMIN37, an international conference aimed at attracting investments to Peru and fostering partnerships with the private sector. In this event, the country closed key deals and partnerships, including a memorandum of understanding (MoU) with Chile on mining activities.

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, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).