Peru's $3.5 Billion El Galeno Copper Mine Project Advances

en.Wedoany.com Reported - Peru's Minister of Energy and Mines, Waldir Ayasta Mechán, held a meeting with Gong Yu, National Manager of Lumina Copper, to discuss the progress and prospects of the El Galeno copper mine project. Located in the Cajamarca region, the project is expected to involve an investment of over $3.5 billion.

Lumina Copper is jointly owned by Chinese enterprises Jiangxi Copper Corp and China Minmetals Corp, with China Minmetals controlling MMG, the operator of the Las Bambas mine. The company stated that it is currently completing environmental studies and related procedures to initiate project evaluation work and submit it for approval by the competent authorities.

The minister emphasized that the project represents a significant opportunity to promote sustainable development in the Cajamarca region. Peru's Ministry of Energy and Mines (Minem) remains committed to advancing new projects to leverage the country's mining potential.

These developments indicate progress for the project after years of stagnation. In March 2025, Ivo Zhao, General Manager of MMG Americas and Manager of the Las Bambas mine, noted that the project requires updates to multiple studies, including the Environmental Impact Assessment (EIA), before development can resume.

El Galeno is considered one of Peru's most important copper mine projects and a strategic component for boosting the country's copper production in the coming years.

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