Peru will "easily" double copper output in coming years, says SNMPE

Tuesday, October 22, 2013

Peru's US$35bn copper projects portfolio will enable the country to "easily" double its output of the red metal in the coming years said head of the mining committee at the national mining, oil and energy society, SNMPE's mining committee head Abraham Chahuán said, according to state news agency Andina.

Speaking at the Mining and Energy Dialogue 2013, Chahuan said the copper sector accounts for 63.4% of Peru's mining industry, which is worth some US$57.4bn.

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The country is on course to produce 1.36Mt of copper this year, compared to 1.3Mt last year, and hopes to double production by 2015 to 2.8Mt according to a report from mines and energy minister Jorge Merino, said the paper.

Referring to a number of projects up and running in Peru - Cerro Verde, Las Bambas, Toromocho, Constancia, MarCobre, Magistral - and new projects, such as Cerro de Pasco and Arequipa, Chahuan said, "not only do we have the resources but also the financial capacity to realize these projects [and] there are a number of international companies interested in carrying out mining infrastructure works," he said.