Peru's copper production is expected to rise slightly in 2025

On June 3 (Tuesday), Peruvian mining officials stated on Tuesday that the country's copper production is expected to increase slightly to 2.8 million mt this year, with mining investment projected to reach at least US$4.8 billion.

Peru, the world's third-largest copper producer, produced approximately 2.7 million mt of copper in 2024 and attracted US$4.96 billion in investment in the crucial mining sector.

Jorge Montero, Peru's Minister of Mines and Energy, stated at a press conference that officials are increasingly concerned about illegal gold mining.

Peru's gold exports reached US$15.5 billion in 2024, up from US$11 billion the previous year. According to industry data and estimates from Peru's financial regulator, approximately 40% of Peru's gold exports are from illegal sources.

Montero noted that informal and illegal copper mining has also increased in the Apurimac and Arequipa regions of southern Peru, though he stated that it still accounts for a small proportion of the country's total production.

Montero said that in Q1 2025, copper production from formal miners reached 660,000 mt, an increase of nearly 4% compared to the same period last year.

From January to March this year, over US$1 billion has been invested in the mining sector, with more investments expected to fund mine expansions, exploration, and equipment.

(Wenhua Comprehensive)