Wedoany.com Report on Feb 25th, At a business event hosted by the Australia-Peru Chamber of Commerce & Industry (APCCI), Luis Rivera, Glencore's Director of South American Operations, stated that the structural growth in global copper production will concentrate in South America over the next 30 years. He said, "Copper is the key metal for building a greener world," noting that energy transition, electrification, grid expansion, and electric mobility will drive sustained demand growth, with major economies adjusting policies to ensure strategic mineral supply.
Rivera emphasized that significant production increases will primarily come from Peru, Chile, and Argentina, countries with rich project portfolios, geological resources, and expansion potential. In Peru, the Antapaccay mining cluster currently produces 140,000 to 150,000 tonnes of copper annually. The company plans to increase output to 300,000 tonnes through the Corocohuayco project, valued at approximately $1.8 billion. This project will utilize an about 8-kilometer conveyor belt to optimize infrastructure, while the inclusion of Quechua Mining could further integrate regional resources.
In Chile, Glencore has achieved integration of mining and metallurgical processing through its involvement in Collahuasi and assets like the Altonorte smelter, enhancing efficiency in the copper value chain. In Argentina, the El Pachón deposit in San Juan Province is expected to have an annual production capacity of 300,000 to 400,000 tonnes of copper. The restart of Alumbrera operations and the planned MARA project could position the country as a new copper production hub.
Rivera concluded that against a backdrop of structural deficit in global copper supply and intensifying competition for critical minerals, Peru, Chile, and Argentina will form the strategic axis for global copper supply in the coming decades. He stated, "The copper the world needs for the next 30 years will be decided in South America." At the end of the event, Carlos Castro, Chairman of the Board of the Australia-Peru Chamber of Commerce & Industry, said the organization is strengthening business networks between the two countries and plans to organize a Peruvian delegation to Australia in October for the IMARC 2026 event.
