Wedoany.com Report-Jun 8, Peru, the world’s third-largest copper producer, anticipates a slight increase in copper output to 2.8 million tonnes in 2025, with mining investments projected to reach at least $4.8 billion, according to Mines and Energy Minister Jorge Montero. Speaking at a press conference in Lima on June 3, 2025, Montero highlighted the mining sector’s importance, noting that it attracted $4.96 billion in investments in 2024.

Artisanal copper mining has become a significant source of income in the Andean region of Peru.

The Peruvian government is intensifying efforts to address illegal gold mining, particularly in the Pataz region of northern Peru, following the tragic killing of 13 mine workers employed by R&R, a contractor for the gold mining company Poderosa. Montero stated: “This is a long-term battle. With gold prices above $3,000, there is a huge incentive for illegal mining.” In response, President Dina Boluarte announced a 30-day mining suspension in Pataz in May 2025, alongside plans for a military base and a curfew to curb violence associated with illegal activities.

Despite efforts by police and military to dismantle illegal mines and tunnels in Pataz, high gold prices continue to drive unlawful operations. Montero noted that these activities are shifting to areas like the Cordillera del Condor mountains near the Ecuador border. Peru’s gold exports reached $15.5 billion in 2024, up from $11 billion the previous year, with approximately 40% estimated to originate from illegal sources, according to industry data.

Montero also reported a minor increase in informal and illegal copper mining in the southern regions of Apurimac and Arequipa, though it represents a small fraction of national output. Apurimac is home to the Las Bambas mine, operated by MMG, while Teck, in partnership with Mitsubishi Materials, is developing the Zafranal copper project in Arequipa. Artisanal copper mining provides income for many Andean communities, despite occasional tensions with larger mining companies.

Formal mining operations produced 660,000 tonnes of copper in the first quarter of 2025, a nearly 4% rise compared to the same period in 2024. Over $1 billion was invested in the mining sector from January to March 2025, with further funding expected to support mine expansions, exploration, and equipment upgrades.

These efforts reflect Peru’s commitment to enhancing its mining industry while addressing challenges posed by illegal operations. By balancing production growth with sustainable practices, Peru aims to maintain its position as a key player in the global copper market while tackling environmental and social concerns in its mining regions.