By the end of 2023, Peru’s copper production reached 2,755,066 fine metric tons (TMF), marking a 12.7% increase compared to the previous year and setting a record figure that keeps the country as the world’s second-largest producer of the red metal, according to the Ministry of Energy and Mines (Minem). The mining title that led this volume with a 16.9% share was Sociedad Minera Cerro Verde, which has recently expressed its interest in implementing a series of modifications at its Cerro Verde Production Unit (Arequipa).
This move signals Cerro Verde’s commitment to not only maintaining but also expanding its operations in a region that is crucial for Peru’s standing in the global copper market. With investments exceeding $645 million, the proposed modifications aim to enhance the efficiency and environmental sustainability of the mining operations. This initiative underscores Cerro Verde’s role as a key player in the industry and its contribution to Peru’s economic growth and the global supply of copper.
