Overview
- Ministry of Energy and Mines projected about US$6.3 billion in mining investment for 2026 during the World Mining Congress in Lima this week, while saying Peru maintains a project portfolio above US$64 billion.
- Industry leaders at the congress warned that lengthy, unpredictable permitting procedures are the key barrier preventing announced projects from moving into construction and production.
- The Tía María copper project has started construction and is roughly 35% complete with about US$900 million committed, a development that the Instituto de Ingenieros de Minas says could trigger other projects to advance.
- Speakers highlighted practical constraints that must be fixed to scale output: reliable gas and transmission capacity for processing, more domestic smelting capacity so concentrates are not exported, and broader use of water recirculation technologies.
- Experts and the World Bank stressed that projects will fail without clear local benefits, so resolving revenue transfers, governance, conflict with illegal mining and community trust is essential for Peru to seize the global copper and critical‑minerals opportunity.