Peru Anticipates Stable Copper Production in 2025

According to leading mining organizations and industry analysts in Peru, copper production is expected to remain stable for the third time in 2025 due to declining ore qualities and a lack of new projects. The South American country ranks third in global copper production, following Chile and the Democratic Republic of Congo, which surpassed Peru in 2023. However, years of extraction have led to a decline in ore qualities, making it difficult for miners to maintain production levels.

Peru's largest mining union, SNMPE, anticipates that the country's copper production will reach 2.8 million tons in 2025, similar to expected levels for 2023 and 2024, as miners face challenges with lower quality resources and development bottlenecks for new projects.

SNMPE President Victor Gobitz stated in an interview last week, "Copper production in Peru is expected to be similar to the 2.8 million tons projected for this year by 2025." Juan Carlos Ortiz, Vice President of the Peruvian Institute of Mining Engineers, indicated that production is expected to remain flat due to the lack of new projects. Ortiz, who is also the Vice President responsible for operations at Minas Buenaventura, stated, "We will replicate copper production levels in 2024."