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Peru, the world's second-largest copper producer after Chile, achieved copper production of 2.
3 million mt in 2021, up about 7% year-on-year, although several protests paralyzed some of the country's main operations
.
According to the latest report from Peru's Ministry of Energy and Minerals (MINEM), precious metals production also increased last year, with gold production up 9.
7% and silver production up 21.
5%
in 2021.
The increase in copper and silver production was partly due to the start of operations at Marcobre's $1.
6 billion Mina Justa open-pit mine in July
.
About 80% of Peruvian copper production comes from Antamina (20%), Southern Copper (17.
3%), Cerro Verde (18.
2%), Las Bambas (12.
6%) and Chinalco (10.
3%)
.
Since President Pedro Castillo took office in July, protests against mining companies have surged
.
The Peruvian government is trying to reach a new deal with the copper mining industry and redistribute profits to Andean communities such as those around Antamina, Las Bambas in MMG and Antapaccay in Glencore
.
The country's National Mining, Petroleum and Energy Association said most protesters were demanding measures to limit mining at the source of the basin, ignoring that these areas are already protected
by water laws.
Social unrest in the country's mining areas has deepened global concerns about an impending shortage of copper, considered a key metal
in the world's transition to green technology.
According to CRU Group estimates, the copper industry will need to spend more than $100 billion by 2030 to address a possible annual shortage
of 4.
7 million tons.
From building materials to batteries and engines, copper is used in a wide range of applications, both as an economic bellwether and as a key ingredient
in driving renewable energy and electric vehicles.
If producers fail to address the shortage, prices will continue to rise and challenge countries around the world that rely on the global energy transition to combat climate change
.
Peru, the world's second-largest copper producer after Chile, achieved copper production of 2.
3 million mt in 2021, up about 7% year-on-year, although several protests paralyzed some of the country's main operations
.
According to the latest report from Peru's Ministry of Energy and Minerals (MINEM), precious metals production also increased last year, with gold production up 9.
7% and silver production up 21.
5%
in 2021.
The increase in copper and silver production was partly due to the start of operations at Marcobre's $1.
6 billion Mina Justa open-pit mine in July
.
About 80% of Peruvian copper production comes from Antamina (20%), Southern Copper (17.
3%), Cerro Verde (18.
2%), Las Bambas (12.
6%) and Chinalco (10.
3%)
.
Since President Pedro Castillo took office in July, protests against mining companies have surged
.
The Peruvian government is trying to reach a new deal with the copper mining industry and redistribute profits to Andean communities such as those around Antamina, Las Bambas in MMG and Antapaccay in Glencore
.
The country's National Mining, Petroleum and Energy Association said most protesters were demanding measures to limit mining at the source of the basin, ignoring that these areas are already protected
by water laws.
Social unrest in the country's mining areas has deepened global concerns about an impending shortage of copper, considered a key metal
in the world's transition to green technology.
According to CRU Group estimates, the copper industry will need to spend more than $100 billion by 2030 to address a possible annual shortage
of 4.
7 million tons.
From building materials to batteries and engines, copper is used in a wide range of applications, both as an economic bellwether and as a key ingredient
in driving renewable energy and electric vehicles.
If producers fail to address the shortage, prices will continue to rise and challenge countries around the world that rely on the global energy transition to combat climate change
.
