According to the Ministry of Energy and Mines (Minem), Peru mining projects totaling 11 are expected to begin construction between 2025 and 2026, with a total investment exceeding $8 billion (approximately €7.731 billion). These initiatives are part of a larger strategy to bolster the nation’s mining sector and drive economic growth. The ministry detailed these Peru mining projects, which include Antamina Replacement, Corani, Raura Replacement, Tantahuatay Replacement, Chalcobamba Phase I, Huancapetí Expansion, Romina, Tía María, Zafranal, Pampa de Pongo, and Trapiche.
Antamina Replacement
Antamina, located in the Ancash region, is one of the world’s largest copper and zinc mines. The Antamina Replacement project aims to sustain production levels as existing reserves are depleted. With its current operations contributing significantly to Peru’s export revenues, the replacement project is critical for maintaining economic stability. The proposed investment will upgrade infrastructure, optimize mineral extraction techniques, and ensure environmental sustainability. The project is expected to provide thousands of jobs during the construction and operation phases.
Corani
The Corani project in the Puno region is focused on silver and lead extraction. Operated by Bear Creek Mining, this initiative is set to become one of the world’s largest primary silver mines. The project emphasizes sustainable practices, including water recycling and local community development programs. The investment will significantly enhance infrastructure in the area, offering long-term benefits for local populations while contributing to Peru’s mining projects to cement the country’s global mining leadership.
Raura Replacement
Located in the Huánuco region, the Raura Replacement project is essential for maintaining zinc and lead production. The project will replace aging facilities with modern, efficient systems, reducing operational costs and environmental impact. This initiative will also involve implementing advanced technologies for mineral processing, ensuring compliance with global environmental standards. Raura is expected to strengthen the local economy by creating employment opportunities and supporting regional development projects, aligning with the broader goals of Peru’s mining projects.
Tantahuatay Replacement
The Tantahuatay Replacement project in Cajamarca focuses on gold and silver extraction. Operated by Buenaventura, one of Peru’s largest mining companies, this project aims to extend the mine’s operational lifespan. The investment will involve upgrading extraction techniques to improve efficiency and reduce environmental footprints. Additionally, the project includes initiatives to enhance community relations, such as education and healthcare programs for residents.
Chalcobamba Phase I
Chalcobamba, located in the Apurímac region, is a key component of the Las Bambas mining complex. The Phase I project will develop new copper reserves, ensuring continued output from one of the country’s most significant mining assets. This initiative will include infrastructure development, road improvements, and implementing environmentally sustainable practices. As one of the flagship Peru mining projects, Chalcobamba Phase I is vital for maintaining Peru’s position as the world’s second-largest copper producer.
Huancapetí Expansion
The Huancapetí Expansion in Lima seeks to increase production capacity for polymetallic minerals, including zinc, lead, and copper. This project involves modernizing existing facilities and enhancing transportation infrastructure to improve logistics. The expansion aims to minimize environmental impacts and maximize resource utilization by leveraging cutting-edge technology. The project is expected to generate significant economic benefits for the region through job creation and infrastructure development.
Romina
Romina, situated in the Arequipa region, extracts copper and gold. This mid-sized project emphasizes sustainable mining practices and aims to incorporate renewable energy solutions into its operations. The Romina project also prioritizes community engagement, with plans to invest in local education and training programs. These efforts aim to ensure local populations benefit directly from the mine’s activities.
Tía María
The Tía María project in Arequipa has been a topic of significant debate due to environmental and social concerns. Operated by Southern Copper Corporation, this copper mining project promises substantial economic benefits, including job creation and increased exports. However, the company has committed to addressing local concerns by implementing advanced environmental safeguards and engaging in transparent dialogue with communities. Tía María could become a model for socially responsible Peru mining projects if successful.
Zafranal
Zafranal, also located in Arequipa, focuses on copper and gold production. This joint venture between Teck Resources and Mitsubishi Materials Corporation is designed to support Peru’s growing demand for sustainable mining practices. The project includes significant investments in water management systems to reduce reliance on local water sources and plans to rehabilitate land post-mining. Zafranal is expected to contribute significantly to the region’s economic development and the broader framework of Peru’s mining projects, advancing sustainability.
Pampa de Pongo
The Pampa de Pongo project in the Arequipa region is a large-scale iron ore mining initiative operated by Zhongrong Xinda Group. This project is one of the most ambitious in Peru’s mining portfolio. With its vast reserves, Pampa de Pongo aims to position Peru as a key player in the global iron ore market. The project includes the construction of a modern port facility to facilitate exports, ensuring that Peru remains competitive in international markets.
Trapiche
Trapiche, located in the Apurímac region, focuses on copper production. Operated by Buenaventura, this project seeks to develop new reserves while prioritizing environmental sustainability. The investment will include advanced processing facilities and infrastructure improvements to support efficient operations. Trapiche is expected to provide long-term economic benefits for the region, including job creation and increased local revenue.
Government Support and Future Prospects
Minister Jorge Montero stated that the government’s actions will focus on supporting and unblocking these projects, which are located in the regions of Áncash, Puno, Huánuco, Cajamarca, Apurímac, Lima, and Arequipa. “To achieve this goal, the coordinated efforts of all Peruvians will be necessary,” he said, emphasizing Peru’s “ancient tradition” as a mining nation.
Montero affirmed that “mining is an activity that drives the country’s development and has all the strengths needed to help Peru regain its path toward progress.” For this reason, he announced that his ministry would also work to remove obstacles to investments in mining exploration, aiming to identify new resources to meet the high international demand for minerals driven by the energy transition efforts of major economies.
According to the minister, more significant investments in prospecting could reveal new reserves of zinc, lead, and lithium, strengthening Peru’s position as a polymetallic mining producer. “As Minister of Energy and Mines, I want to contribute to the reactivation of projects that generate benefits for the country, firmly believing in mining as a driver of economic development and a provider of critical projects,” he stated.