Peru's Metallic Mining Exports through September Reached US$42.12 Billion

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

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Summary

Peru recorded metallic mining exports worth US$42.1 billion through September 2025, driven by high copper and gold, which accounted for 83.3% of the total, thanks to high prices. The country maintained solid copper and gold production through October.

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Steady Production Drives Exports

Peru's Ministry of Energy and Mines reported that between January and September of 2025, metallic mining exports amounted to US$42.12 billion, about 20.6% more than the same period in 2024.

Copper accounted for roughly 46% of the total amount, about 12.1% more than the same period in 2024. Closely behind was gold, accounting for 37.3% of the total and 43.1% more than in 2024.

Peru is benefiting from high commodity prices. Throughout 2025, copper production was hit by accidents and operational setbacks in mines such as El Teniente in Chile, Grasberg in Indonesia, and Quebrada Blanca in Chile, putting pressure on supply and boosting prices.

Meanwhile, gold prices have reached new records amid weakness in the U.S. dollar, expectations of U.S. Federal Reserve interest rate cuts and geopolitical tensions.

For 2026, Cochilco, the Chilean mining agency, forecast a copper price of US$4.55 per pound, up from the previously expected US$4.30 per pound. The World Gold Council, for its part, expects gold to see moderate gains if global economic activity slows and interest rates fall further.

Volumes and Export Destinations

Peru recently lost its spot as the world's second-largest copper producer to the Democratic Republic of Congo. Despite this, the country remains one of the most important copper players in terms of active production and projects.

Between January and October 2025, Peru produced 2.296 million tons of copper, about 3% more than in the same period the previous year. Production volumes were dominated by Las Bambas, which accounted for 15.2%, followed by Cerro Verde with 14.99% and Southern Copper Corporation's (Phoenix, Arizona) mines, with 14.96%. Together, they accounted for 45.1% of Peru's production volume during that period.

China was the leading destination for Peruvian copper exports between January and September 2025, accounting for 76.3%, followed by Japan at 6.6% and Spain at 3.1%.

For gold, production in the first 10 months of 2025 totalled 90.521 million fine grams, broadly flat compared to 2024 volumes. Yanacocha led output with 15.1%, followed by Poderosa at 7.9% and Boroo at 5.6%. Unlike copper, Peru's gold production is distributed among more players.

India was the largest recipient of Peruvian gold between January and September, accounting for 25% of exports, followed by Canada at 20% and the United Arab Emirates at 16.9%.

Key Takeaways

• Peru's metallic mining exports reached US$42.1 billion by September 2025.
• Copper and gold lead the charts, accounting for a combined US$35.1 billion.
• Copper production by October was 2.29 million tons, while gold volumes stood at 90.5 million grams.

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