EL GALENO
COMPANY Lumina Copper S.A.C.
INVESTORS
60%: China Minmetals Corporation (China);
40%: Jiangxi Copper Company Limited (China)
INVESTMENT US$ 3.5 B
The El Galeno Project by Lumina Copper S.A.C. in Cajamarca, Peru, is a US$ 3.5B greenfield copper, gold, and molybdenum mining initiative. Situated 30 km northeast of Cajamarca at elevations of 3,800–4,200 meters, it holds 803 million tons of resources, targeting annual production of 144,353 tons of copper, 82,324 ounces of gold, 2,021,574 ounces of silver, and 2,277 tons of molybdenum. Currently in the pre-feasibility phase, the project has completed initial studies and continues refining its environmental impact assessment (EIA). A US$ 10M amendment in 2022 extended exploration activities, with the project targeting a 20.4-year operational lifespan.
LOS CHANCAS
COMPANY Southern Perú Copper Corporation, Sucursal del Perú
INVESTORS Grupo México S.A.B. de C.V. (Mexico)
DATES 2027-2031
INVESTMENT US$ 2.6 B
The Los Chancas copper project in Apurímac, Peru, by Southern Peru Copper Corporation, is a US$ 2.6B open-pit mine targeting annual production of 130,000 tons of copper and 7,500 tons of molybdenum. Set to start operations by 2031, the project is addressing illegal mining while advancing hydrogeological and geotechnical studies and a 40,000-meter drilling campaign to refine its environmental impact assessment.
MICHIQUILLAY
COMPANY Southern Perú Copper Corporation, Sucursal del Perú
INVESTORS Grupo México S.A.B. de C.V. (Mexico)
DATES 2027-2029
INVESTMENT US$ 2.5 B
Southern Copper Corporation’s Michiquillay copper project in Cajamarca, Peru, involves a US$ 2.5B investment. Operations are set to begin in 2029, with construction starting in 2027. Expected annual production includes 225,000 metric tons of copper, along with molybdenum, gold, and silver, driving local economic growth and social initiatives.
INMACULADA OPTIMIZATION
COMPANY Compañía Minera Ares S.A.C
INVESTORS Hochschild Mining Plc. (UK)
INVESTMENT US$ 1.3 B
The Inmaculada Optimization Project, led by Compañía Minera Ares S.A.C. in Ayacucho, Peru, is a major gold mining brownfield initiative with an investment of US$ 1.319 B. Located in the high-altitude regions of Páucar del Sara Sara and Parinacochas, the project aims to extend operations until 2042 by expanding underground extraction of gold and silver.
PAMPA DE PONGO
COMPANY Jinzhao Mining Perú S.A.
INVESTORS
49%: Zhongrong Xinda Group Co. Ltd. (China);
51%: Jiangtong Group (China)
DATES 2025-2028
INVESTMENT US$ 1.8 B
The Pampa de Pongo Project, located between Ica and Arequipa, Peru, is an iron ore mine with a 21.5-year lifespan, set to begin operations in 2028. It will progress in phases, starting with 10 million tons annually in Phase I, reaching 30 million tons in Phase III. With 3.43 billion tons of iron ore and copper, the project will create 750 construction jobs and 1,592 operational jobs. The EIA is under review, with no mining plan or benefits concession submitted yet.
CORANI
COMPANY Bear Creek Mining S.A.C
INVESTORS Bear Creek Mining Corpora on (Canada)
DATES 2024-2027
INVESTMENT US$ 579 M
The Corani Project in Puno, Peru, led by Bear Creek Mining, aims to become the world’s largest silver mine by 2025. It will produce 16 million ounces of silver annually in the initial years, stabilizing at 9.6 million ounces, alongside lead and zinc. Scheduled for start-up in 2027, the project involves a US$ 579M investment, expected to grow by 20%. With a 15-year lifespan, it will generate 2,500 construction jobs and 440 operational roles, leveraging reserves of 229 million ounces of silver and significant lead and zinc, boosting the local economy and global mining presence.
