🇵🇪 Peru is poised for a significant increase in copper production through two major mining projects: La Granja and Michiquillay. These projects collectively represent an investment exceeding US$4.9 billion and are critical to strengthening Peru’s strategic position as one of the world’s top copper producers, holding nearly 11% of global copper reserves.
According to Rómulo Mucho, former Minister of Energy and Mines, these projects could add up to 2 million tonnes of copper annually to Peru’s output. The Michiquillay project, owned by Southern Copper Corp. (part of Grupo México) and located in Cajamarca, has reached 39% progress in exploration as of March 31, 2025. Nearly 146,000 meters of drilling have been completed, close to the 148,000-meter target, with almost 48,000 samples collected for chemical analysis. Ongoing geometallurgical, hydrological, hydrogeological, and upcoming geotechnical studies aim to confirm the project’s technical and economic viability.
Michiquillay’s inferred mineral resources are approximately 2.288 billion tonnes with an estimated copper grade of 0.43%. The project is expected to produce about 225,000 tonnes of copper annually, alongside valuable byproducts such as molybdenum, gold, and silver. The total investment for Michiquillay is estimated at around US$2.5 billion, with an initial mine life exceeding 25 years and potential production start by 2032.
La Granja complements Michiquillay by contributing to this pivotal copper production boost. Together, these projects enable Peru to achieve a decisive copper production leap, maintaining its leadership in the global mining sector while fostering significant economic and business development opportunities in their respective regions.
The strategic importance of these investments lies not only in their scale but also in their alignment with the growing global demand for copper, driven by sectors such as renewable energy and electrification. This positions Peru to capitalize on market opportunities, attract investments, and advance operational developments in the mining industry.
Source(s): https://energiminas.com/2025/04/25/exploracion-en-michiquillay-tiene-un-avance-total-de-39/, https://minergiaperu.com/blog/2025/08/02/romulo-mucho-peru-puede-dar-un-salto-cuprifero-si-destraba-la-granja-y-michiquillay/, https://mineria-pa.com/2025/08/01/romulo-mucho-la-granja-y-michiquillay-son-clave-para-el-salto-cuprifero/, https://www.diariominero.com/romulo-mucho-la-granja-y-michiquillay-con-us-4-9-mil-millones-son-clave-para-el-salto-cuprifero-del-peru/proyectos/, https://iimp.org.pe/noticias/interna/romulo-mucho-la-granja-y-michiquillay-con-mas-de-us4900-millones-son-clave-para-el-salto-cuprifero
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