Global Business Reports


Lucrezia Falcidia, Braulio Tresguerres, Maya Ordoñez

Peru Mining 2024 Pre-Release II

May 17, 2024

As the second half of 2024 approaches, Peru stands at a crossroads. According to the latest figures, the Democratic Republic of Congo has surpassed Peru as the second-largest copper producer. Cabinet changes under Boluarte's administration and ongoing corruption cases have taken a toll on investor confidence, and illegal mining remains a pressing issue. However, not everything is lost for the Andean country, and the mining sector presents growth opportunities.

Both copper and gold are flirting with record-high prices, which should incentivize new projects and spur junior exploration. The new Minister of Mines and Energy, Rómulo Mucho, has set ambitious targets, aiming for copper production to reach 3 million metric tons by 2024. Additionally, key projects in the pipeline are moving forward: Zafranal has received approval for its Environmental Impact Assessment (EIA), Antamina has been granted an extension for its Modification of the Environmental Impact Study (MEIA), and Buenaventura has obtained approval for the EIA for its Yumpag project. Other projects, such as Corani and Romina, require their respective companies to address financial concerns before progressing with the projects.

In this context, producers and various stakeholders across the mining value chain are leveraging Peru's advantages, such as a relatively green energy mix, a robust talent pool, and a diverse array of local contractors capable of servicing large-scale projects like Quellaveco, Las Bambas, Antamina, and Minsur. These factors help bring state-of-the-art technologies to optimize operations. 

After 115 interviews and four months of on-the-field research, this second pre-release version of GBR's Peru Mining 2024 offers a holistic analysis with insights from leading C-executives across the entire mining value chain to present a comprehensive view of Peru's current opportunities and the importance of mining for the country's future.


Tembo Power is developing hydropower projects across Africa with a focus on DRC.
Chesser Resources is upbeat about its Diamba Sud gold resource in Eastern Senegal.
Robocon speaks with GBR about the outlook for its services in Peru.
"Our product innovation process involves gathering client feedback and submitting it to the factory, which determines which ideas to pursue based on economic considerations."


Chile Mining 2024 Pre-Release

The Chilean mining renaissance has begun. In 2024, the country is set to experience its first increase in copper production since 2018, driven by Codelco’s production surge and Teck Resources’ Quebrada Blanca II coming online. This year also saw the first major regulatory update since 1983 with amendments to Law No. 21,420, which modernized the mining framework. The government has shown strong support for the industry by committing to reduce permit processing times by a third and proposing 20 actionable measures to streamline processes. Additionally, Chile classified its 69 saline environments, leaving 31 open for private development and initiating a request for information process in April to rapidly advance these areas.



"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."