Peru’s copper sector the one with highest growth potential in the world—Chilean expert

Peru’s copper sector the one with highest growth potential in the world—Chilean expert

It is not usual to hear Chileans praising their Peruvian neighbours, especially when the matter in question is the copper industry, Chile’s most precious resource, which accounts for 60% of the nation's exports and 20% of its GDP.

But Juan Carlos Guajardo, the Chile’s Centre for Copper and Mining (CESCO) director, told Peruvian newspaper Gestión (in Spanish) that the production gap between the two mining countries is “set to narrow,” as Peruvian copper projects are solid, competitive and less costly in terms of energy needs.

He added that rather than seeing Peru’s copper sector as a threat, Chileans miners should evaluate the many opportunities for cooperation between both industries.

Actually Peru is already looking to boost cooperation agreements on copper processing technology with Chile as the country, the world’s top copper producer, has decades of experience extracting the red metal.

Despite having a well-established portfolio of projects, Guajardo said Peru needs to first overcome the constant opposition to extractive projects, which casts a shadow over the country’s mining industry.

According to Peru’s Minister of Energy and Mines, Jorge Merino, social issues won’t interfere with the country’s projected mining performance. Copper production is expected to increase this year by 17% and gold and silver production is estimated to jump by 10% this year.