Peru supplies 27% of China's copper

Peru supplies about 27% of the copper demanded by China, the world's main consumer of the red metal and zinc, according to energy and mines minister Jaime Gálvez.

The South American country is not only China's second largest copper supplier, but also provides 19% of the zinc demanded by the Asian giant.

According to official data, last year 64.2% of Peru's copper exports by value went to China and 23.8% of its zinc exports.

Gálvez said in a statement that the solid recovery of the Chinese economy will lead to an increase in demand for copper, which represents a big opportunity for Peruvian mining.

Peru's mining project portfolio includes seven Chinese-backed ones, including Galeno, Río Blanco and Pampa de Pongo, which represent investment of more than US$8bn.

Mines operated by Chinese companies, such as Toromocho and Las Bambas, represent 24% of Peru’s copper production. A Chinese company also produces 100% of Peru’s iron ore output.