Chinese and US firms vie for copper in Peru
Peru plans to increase its copper production by approximately one million tons over the next 5 to 6 years through new mining projects, despite current challenges such as declining ore quality and social conflicts that have limited production this year, which is expected to range between 2.5 and 2.7 million tons. The new government aims to accelerate bureaucratic procedures and reduce around 100 licensing requirements to attract new investments from Chinese and American companies, especially as Washington seeks to expand its presence in the supply chains of strategic minerals. The anticipated investments include several multi-billion-dollar projects, with expectations that work on existing or new projects will add up to one million tons of output in the coming years.
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