The global mining sector, valued at US$ 4 trillion, is growing rapidly, with copper demand set to rise 30% by 2035. Gold demand reached US$ 100 billion in Q3 2024, while lithium, nickel, and rare earths are surging due to their roles in renewable energy and electrification.
Peru’s mining investment portfolio (2024–2029) is valued at US$ 54 billion, with 51 projects mainly focusing on copper (73%), gold (13%), and iron ore (9%). Greenfield projects dominate at 6% (US$ 38.5 billion), with the rest allocated to brownfield expansions and upgrades.
Peru holds 12% of the world’s copper reserves, 15.3% of silver, 3.9% of gold, 9.5% of zinc, 5.3% of lead, and 2.8% of tin, making it a top global producer of key metals.
Mining accounts for 5% of Peru’s GDP and 60-68% of export revenue, projected at US $73 billion in 2024. Fiscal revenue reached around US$ 3.7 billion by September 2024, up 9.7% from 2023, with metallic mining taxes contributing 81.4%.
Open-pit mining leads with 3% of investments, followed by underground (12.8%) and mixed methods (10.3%), showcasing Peru’s geological diversity. Modern technologies enhance safety and efficiency, particularly in seismically active regions like Moquegua and Apurímac.
Copper production surpassed 2.76 million tonnes in 2024, a 4% increase driven by projects like Anglo American’s Quellaveco. Peru aims to double production to meet global copper demand, expected to reach 50 million tonnes by 2035.
Projects like Zafranal (US$ 1.26 billion), Pampa de Pongo (US$ 1.78 billion), and Cañariaco (US$ 1 billion) will begin executions in 2025, further boosting Peru’s global mining leadership.
International commercial and development agreements (e.g., with China and Japan), public-private collaborative efforts on community development and efforts to streamline permitting, solidify Peru's role in global mineral supply chains, reinforcing the county´s commitment to growth and responsible development.
Peru’s mining sector thrives on its abundant resources, stable macroeconomy, and improving political stability, making it a prime destination for global investors seeking reliable and high-potential opportunities.
