Peru clings to copper No. 2 spot but investment pipeline stalls

📆 13/9/2566 22:49:00
📰 MiningWeeklyAUS

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Peru is clinging to its spot as the world's No. 2 copper producer and supplier, with a bounce in mining activity helping the Andean country stay just ahead this year of rival producer Democratic Republic of Congo (DRC), which is hot on its heels. The South American nation has seen output of the red metal rise some 20% in the first half of 2023, government data show, though that's been tempered by red tape and flagging mining investment after a period of political turmoil and protest.

LIMA - Peru is clinging to its spot as the world's No. 2 copper producer and supplier, with a bounce in mining activity helping the Andean country stay just ahead this year of rival producer Democratic Republic of Congo , which is hot on its heels.

In the first quarter Peru's output was 619 000 tons versus DRC's. Peru is just ahead of Congo also on shipments with 1.4-million tons versus 1.3-million in the first half of the year, separate data from both mining ministries show. Key to increased production has been Anglo American's $5.5-billion Quellaveco mine, producing a monthly 30 000 tons of the metal, which started operations late last year.

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