According to a report by Mining.com, citing Reuters, a senior Peruvian official said on Monday that the country’s copper production is expected to reach 2.8 million tons this year, representing a 15% increase over 2022. Copper has now become this Andean nation’s largest export commodity.
　　As the world’s second-largest copper producer, Peru’s copper output has been affected by anti-government protests and roadblocks since December of last year.
　　After releasing the latest forecast, Peru’s Minister of Energy and Mines, Oscar Vera, told reporters that the mining industry is currently “returning to normal.” According to data from the Ministry of Energy and Mines, Peru’s copper production from mines in 2022 reached 2.44 million tons.
　　Vera added that officials are working to shorten the project approval time from about two years to six months.
　　“We hope to achieve this goal by the end of the year,” he said.
　　Vera stated that Peru’s mining investments for the next two years will amount to approximately 7 billion U.S. dollars, including the Antamina copper mine expansion project, Teck Resources’ Zafranal project, and Newmont’s Yanacocha Sulfuros project.
　　Vera added that he hopes the lithium exploration project will be approved “in the coming months.”
　　“We’ve already held talks with potential investors from Canada, and as a country, we’re keen to industrialize another mineral,” Vera said. He was referring to lithium, a key metal used in rechargeable batteries.
　　Last August, the Peruvian government established a working group to oversee the development of this ultra-lightweight metal.
　　Currently, Peru has only one lithium exploration project, located in the Puno Region, which borders Bolivia.
　　Canada’s Plateau Energy Metals is currently the operator of the Falchani hard-rock lithium mine project, which is estimated to hold lithium carbonate resources totaling 4.7 million tons.
　　Neighboring countries Chile, Argentina, and Bolivia have formed the so-called “Lithium Triangle,” which boasts vast lithium deposits in expansive salt flats.