Peru’s Copper Production Drops 11.7% in June Amid Ongoing Industry Challenges
Copper production in Peru fell by 11.7% year-on-year in June, reaching 213,578 metric tons, according to the country’s energy and mines ministry.
For the first half of 2021, total production amounted to 1.29 million tons, reflecting a 2.1% decline compared to the same period last year.
Peru, which has slipped to the third-largest copper producer globally after being overtaken by the Democratic Republic of Congo, is projected to produce 3.00 million tons of copper this year, up from 2.76 million tons in 2020, according to the ministry.
The Peruvian government is seeking to revitalize its crucial mining sector, which was severely impacted by anti-government protests early last year, leading to a technical recession.
A significant boost is anticipated from the Tia Maria project, a major copper venture by Southern Copper, owned by Grupo Mexico. Production at Tia Maria is now slated to begin in 2027, after more than a decade of delays due to local community opposition.
