Peru Copper Mining Market by Reserves and Production, Assets and Projects, Fiscal Regime including Taxes and Royalties, Key Players and Forecast, 2022-2026

Pages: 41 Published: June 10, 2022 Report Code: GDMMBMC043MR

  • Overview
  • Key Players
  • Contents
  • Tables
  • Figures
  • FAQ
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The Peru copper production was at 2,299.3Kt in 2021. The market is expected to grow at a CAGR of more than 6% during the forecast period. Peru has the world’s third largest copper reserves in the world after Chile and Australia. Overall, production will be largely supported by production from the existing portfolio of operating mines including, Antamina, Cerro Verde and Las Bambas.

The mining industry in Peru is regulated by laws such as General Mining Law, Mining Canon Law, Law Regulating Environmental Liabilities of Mining and the General Law of the Environment. Mining license holders are required to pay Mining Concession Fees every year and satisfy the minimum production criteria, failing which can attract penalties and may result in the extinction of rights. There are provisions of tax incentives, tax loss relief and capital allowances, which can be used by mining entities based on the fulfilment of certain conditions.

Peru Copper Mining Market Overview

Peru Copper Mining Market Overview

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Which are the key active mines in the Peru copper mining market?

Some of the key active mines in the Peru copper mining market are Antamina Mine, Cerro Verde Mine, Las Bambas Project, Toquepala Mine, Toromocho Project, Antapaccay Mine, Cuajone Mine, Constancia Project, Marcapunta Norte Mine, and Carolina Mine.

Which are the key copper producers in the Peru copper mining market?

The key copper producers in the Peru copper mining market are Glencore, Freeport-McMoRan, and Grupo Mexico SAB de CV.

Glencore Plc

Glencore plc (Glencore) is a diversified natural resources company. It carries out the production and marketing of various mineral commodities. The company’s operations include the refinement, processing, storage and transportation of metals and minerals, energy, and agricultural products.

Freeport-McMoRan

Freeport-McMoRan Inc. (FCX) is a metals and mining company which carries out the production of gold, copper, cobalt, molybdenum, and oil and natural gas. Its portfolio of products includes specialty copper, continuous cast copper rods, copper cathodes, copper concentrates, copper electrode and bare wires. The company operates mines in North America, South America, and Indonesia. It carries out the smelting and refining operations in the US, Indonesia, and Spain. The company also carries out oil production offshore in California and gas production onshore in South Louisiana. FCX is headquartered in Phoenix, Arizona, the US.

Grupo Mexico SAB de CV

Grupo Mexico SAB de CV (Grupo Mexico) is engaged in mining, exploration, and processing of metallic and non-metallic minerals such as copper, zinc, lead, gold, silver, and molybdenum. The company has operational presence in Mexico, Peru, Spain, Ecuador, Chile, Argentina, and the US.

To know more about leading companies in the Peru copper mining market, download a free report sample

Market Report Scope

Market size (2021) 2,299.3Kt
CAGR >6%
Forecast period 2022-2026
Key active mines Antamina Mine, Cerro Verde Mine, Las Bambas Project, Toquepala Mine, Toromocho Project, Antapaccay Mine, Cuajone Mine, Constancia Project, Marcapunta Norte Mine, and Carolina Mine
Key copper producers Glencore, Freeport-McMoRan, and Grupo Mexico SAB de CV

This report provides:

  • An overview of the Peru copper mining industry including key demand driving factors affecting the Peru copper mining industry.
  • Detailed information on reserves, reserves by country, production, competitive landscape, major operating mines, major exploration, and development projects.

Reasons to Buy

  • Comprehensive evaluation of the impact of COVID-19 on Peruvian copper industry.
  • To gain an understanding of the Peruvian copper mining industry, relevant driving factors.
  • To understand historical and forecast trend on Peruvian copper production.
  • To identify key players in the Peruvian copper mining industry.
  • To identify major active, exploration and development projects in Peru.

Key Players

Glencore Plc, Freeport-McMoRan Inc., Grupo Mexico SAB de CV

Table of Contents

1 Executive Summary

2 Reserves, Production and Prices

2.1 Copper Reserves by Country

2.2 Copper Production

– Production by company

2.3 Copper Prices

3 Copper Assets

3.1 Active Mines

3.2 Development Projects

3.3 Exploration Projects

4 Demand

4.1 Consumption and Exports

4.2 Demand drivers

– China’s construction industry

– Demand from EV market

5 Major Copper Producers

5.1 Glencore Plc

5.2 Freeport-McMoRan

5.3 Grupo Mexico SAB de CV

6 Fiscal regime

6.1 Classification of Mining Activities in Peru

6.2 Governing Bodies

– Ministry of Energy and Mines (MINEM)

– Geological Mining and Metallurgical Institute

– Ministry of Environment (MINAM)

– Supervisory Organization of Investment in Energy and Mining (OSINERGMIN)

– Organization of Supervision and Environmental Assessment

– National Superintendence of Labor Inspection (SUNAFIL)

6.3 Laws and Regulations

– General Mining Law

– Mining Canon Law

– Law Regulating Environmental Liabilities of Mining

– General Law of the Environment

– Mining Rights and Fees

– New Merger Control Regime

6.4 Taxes and Royalties

– Corporate Income Tax

– Tax Loss Relief

– Tax on Capital Gains

– Capital Allowances

– Business Expenses

– Tax Depreciation

– Modified Mining Royalty (MMR)

– Special Mining Tax (SMT)

– Special Mining Burden (SMB)

– Value-Added Tax (VAT)

– Withholding Taxes

– Dividends

– Interests

– Royalties

– Tax Incentives

– Under the Foreign and Private Investment Legislation

– Under the General Mining Law:

– Tax Treaties

7 Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Coverage

7.4 Secondary Research

7.5 Development Likelihood

List of Tables

Table 1: Copper reserves by country (thousand tonnes), January 2022

Table 2: Copper mine production in Peru (thousand tonnes), 2006–2026

Table 3: Copper production by company’s Peruvian operations (thousand tonnes), 2020-2021

Table 4: Global copper prices, quarterly ($/tonne), 2015 – 2022

Table 5: Active mines, 2022

Table 6: Development projects, 2022

Table 7: Exploration projects, 2022

Table 8: Historical and forecast copper consumption and exports (thousand tonnes), 2016–2026

Table 9: Glencore Plc., major projects, 2022

Table 10: Freeport-McMoRan Inc., major projects, 2022

Table 11: Grupo Mexico, major projects, 2022

Table 12: Classification of mining activities in Peru

Table 13: Mining Rights

Table 14: Concession Fees, 2022

Table 15: Peru’s Mining Fiscal Regime – Maximum Depreciation Rates under General Tax Rule, 2022

List of Figures

Figure 1: Copper reserves by country (thousand tonnes), 2019–2022

Figure 2: Copper reserves by country (%), January 2022

Figure 3: Historical and forecast copper mine production (thousand tonnes), 2006–2026

Figure 4: Global copper prices, quarterly ($/tonne), 2015 – 2022

Figure 5: Exports of copper ores and concentrates consumption (thousand tonnes), 2016-2026

Figure 6: Exports by Country (%), 2021

Figure 7: Global copper demand by end use (%), 2021

Figure 8: Construction Output Value (Real, $ 2017 Billion), 2006–2026

Figure 9: EVs production (thousand units), 2016–2036

Frequently Asked Questions

The Peru copper production was 2,299.3Kt in 2021.

The copper mining market in Peru is expected to grow at a CAGR of more than 6% during the forecast period.

Some of the key active mines in the Peru copper mining market are Antamina Mine, Cerro Verde Mine, Las Bambas Project, Toquepala Mine, Toromocho Project, Antapaccay Mine, Cuajone Mine, Constancia Project, Marcapunta Norte Mine, and Carolina Mine.

The key companies in the Peru copper mining market are Glencore, Freeport-McMoRan, and Grupo Mexico SAB de CV.

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