Peru, the world’s third-largest copper producer, is set for a modest increase in copper output, with production expected to reach 2.8 million tonnes (mt) in 2025, according to projections shared by the country’s Mines and Energy Minister, Jorge Montero.
The announcement comes as the government intensifies its fight against illegal gold mining in the wake of recent violence in the sector.
Speaking at a recent press conference, Montero highlighted the mining industry’s continued significance for Peru’s economy.
“The mining sector, a pivotal industry for the country, attracted investments totalling US$4.96 billion in 2024,” he said — noting that mining investments are expected to reach at least US$4.8 billion (17.4 billion new sol) in 2025.
The government’s renewed focus on illegal gold mining follows the murder of 13 mine workers in the gold-rich Pataz region in northern Peru.
Despite ongoing efforts by army troops and police to destroy illegal mines and tunnels, Montero acknowledged that, “the area remains perilous, with high gold prices fuelling unlawful activities”.
In response to the violence, President Dina Boluarte imposed a 30-day mining suspension in the Pataz district earlier in May.
The government now plans to establish a military base and enforce a curfew in the region to curb violence linked to illegal mining.
The victims in the recent attack were employees of local contractor R&R, working for the gold mining company Poderosa.
The crackdown in Pataz has reportedly displaced illegal mining operations to new areas, including the Cordillera del Condor mountains on the Ecuadorian border.
Gold exports from Peru surged to US$15.5 billion in 2024, up from $11bn the previous year. However, industry data and the country’s financial regulator estimate that illegal sources account for around 40 per cent of these exports.
Montero also addressed the rise of informal and illegal copper mining in the southern regions of Apurimac and Arequipa.
“It constitutes a minimal fraction of national production,” he stated, emphasising that formal operations remain dominant.
The Apurimac region is home to Las Bambas, Peru’s largest copper mine operated by MMG, while Teck and Mitsubishi Materials are developing the Zafranal copper project in Arequipa.
Artisanal copper mining has become a vital source of income for many in the Andean region, though it has sparked conflicts with larger mining companies.
Montero reported: “Formal mining operations produced 660,000mt of copper in the first quarter of 2025, a nearly 4 per cent increase over the same period in the previous year.”
He added that more than $1 billion was invested in the mining sector from January to March, with further funding anticipated for mine expansions, exploration, and new equipment.
As Peru seeks to balance economic growth with the enforcement of mining regulations, the government’s actions in the coming months will be closely watched by industry stakeholders and local communities alike.
