Global Business Reports


Lucrezia Falcidia, Braulio Tresguerres

Peru Mining 2024 PDAC Pre-Release

March 01, 2024

After social unrest and political turmoil in Peru during early 2023 that significantly impacted the mining industry, the economic engine of the country's economy, President Dina Boluarte decided to stay in office until 2026. It seems that the industry is undergoing a moment of calm, and there is a more positive atmosphere among C-executives, especially after the MINEM announced in February 2024 a 12.7% increase in copper production in 2023, making Peru maintain its position as the largest copper producer globally, above the Democratic Republic of Congo. 

At the government level, a cabinet reshuffle took place, and on February 13th, 2024, Rómulo Mucho—someone well-versed in the industry—assumed the role of the new head of the MINEM. While specific projects in the pipeline, such as Antamina's expansion, have received permits, the lack of new greenfield projects has led investors to seek alternatives to Peru, particularly with a watchful eye on the 2026 election year. In this context, Mucho's role will be crucial in the upcoming months in fostering mutual understanding and aligning the private sector with the government for Peru's best interest. 

The PDAC pre-release version of GBR's Peru Mining 2024 offers an analysis from interviews with key executives across the entire value chain of the Peruvian mining industry. Its goal is to present a comprehensive perspective on the ongoing events in the country, their influence on industry activities, and the anticipated developments in the coming months.


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."


Mexico Chemicals 2024

In August 2023, Mexican exports to the US surpassed China for the first time. As companies prioritize securing supply their chains after years of logistics challenges, Mexico has begun to see major benefits. With a spate of new infrastructure projects such as the Interoceanic Corridor of the Isthmus of Tehuantepec coming online in 2023, the country is actively opening itself to investment. The chemical industry, in particular, is positioned for nearshoring-driven growth.



"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."