Peru Seeks to Attract Copper Mine Investments

---

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Peru Minister of Mines Romulo Mucho sought to attract investors to his nation's mining sector in an event hosted by the Canadian Business Chamber in Peru. During the event, Mucho said Peru currently has 31 copper mining projects in its investment portfolio worth US$39.8 billion.

The projects are distributed across 14 departments and feature the Antamina Reposition in Ancash, Yanacocha Sulfuros in Cajamarca or the expansion of Cuajone in Moquegua.

For this year, Mucho expects mining investments worth US$5 billion.

"Studies say that copper is the mineral that will reign in the future, and we need more copper projects. Fortunately, we have projects in the exploration phase so that Peru continues to be a key player as a supplier country in the energy transition that the world is experiencing towards cleaner sources," Mucho said during the event.

Including other commodities, Peru has a mining investment portfolio of 51 projects representing investments of US$54.5 billion, in addition to 75 projects for mining exploration worth US$644 million.

Industrial Info is tracking 156 active capital copper mine projects in Peru, worth nearly US$31 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.

In the first seven months of 2024, Peru produced 1.512 million tons of copper, about 2.3% less than during the same period last year. Meanwhile, from January through July 2024, the country produced 60.3 million grams of gold (up 12.6% year over year), 1.878 million kilograms of silver (up 11%), 166,108 tons of lead (up 9.6%), and 7.8 million tons of iron ore (up 3.9%).

Overall, in the first seven months of the year, some US$2.5 billion was invested in the mining sector, about 9.8% more than during the same period last year, according to the Ministry of Mines.

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).