Peru sees copper production boost in 2023, lithium permissions pending

The country mined some 2.44 million tonnes of copper in 2022, according to ministry data. In January, production slipped 3.6% from the year-ago period.

Peru expects to produce 2.8 million tonnes of copper in 2023, Minister of Energy and Mines, Oscar Vera said in a news conference representing an almost 15% jump from last year.

Peru, the world’s no. 2 producer of the red metal, saw production affected late last year and at the beginning of this year after protests and road blockades spurred by the ouster and arrest of President Pedro Castillo.

The mining sector is now “working as normal,” Vera said. A Reuters analysis in early March showed that major copper mines were cranking up again after road blockades eased.

Vera added that he expects to approve permissions allowing the exploration of lithium, key in the production of electric vehicle batteries, “in coming months.”