By Daina Beth Solomon
SANTIAGO (Reuters) -Peru’s copper output is expected to grow between 2% and 4% this year, said the head of The National Society of Mining, Oil and Energy (SNMPE), Julia Torreblanca.
That would put Peru’s copper production between 2.79 million and 2.85 million metric tons, compared to 2.74 million tons last year.
Torreblanca said in an interview with Reuters, on the sidelines of the CESCO and CRU copper conferences in Chile, that the government was working to streamline the permitting process so that miners could ramp up production more quickly.
Peru is the world’s third-biggest producer of the red metal, after being displaced as number two by the Democratic Republic of the Congo in 2023.
Torreblanca also said Peru was looking to mitigate the impact of 10% tariffs imposed by U.S. President Donald Trump, and could seek other markets besides the U.S. if his administration were to put a tariff on copper.
“If our product or sales prices are going to be impacted, we will have to evaluate if there are other economies where we can sell our product without harming ourselves,” Torreblanca added.
Her comments echoed remarks earlier on Wednesday to Reuters by Chilean Mining Minister Aurora Williams, who said countries in a lower tariff range could potentially look more attractive than others hit with higher rates, if the U.S. were to apply tariffs to copper.
“If China is being taxed so highly … If you have to decide who to buy from, I would buy from Chile or Peru,” Torreblanca said.
(Reporting by Daina Beth Solomon; Editing by Aida Pelaez-Fernandez and David Gregorio)
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