Peru to Approve Lithium Exploration Soon, Expects Copper Output to Surge in 2023

According to foreign news on April 10, Peruvian Energy and Mining Minister Oscar Vera said at a press conference that Peru's copper production in 2023 is expected to reach 2.8 million mt, an increase of about 15% over last year.

Production in Peru was affected late last year and early this year as political changes in the country sparked protests and road blockades.

According to the Ministry of Mines, Peru produced about 2.44 million mt of copper in 2022.

Vera added that he expected to approve exploration in the "coming months" for lithium, a key material in the production of electric vehicle batteries. Its neighbours Chile, Argentina and Bolivia form the so-called "lithium triangle" and are thought to harbour millions of mt of lithium.