Chile and Peru plan to produce 51% of the world's copper in 15 years

06 Oct 2025 21:55
06 Oct 2025 21:58

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Chile and Peru plan to produce 51% of the world's copper in 15 years

File Photo by Mario Ruiz

Chile and Peru have unveiled "Project 51," an alliance designed to allow the two countries to supply 51% of the world's copper within the next 15 years, in response to forecasts predicting sustained demand for the mineral.

The plan also seeks to promote copper industrialization and build a value chain capable of supplying high-tech industries, including NASA, News.Az reports citing foreign media.

The main goal of the agreement is to shift from exporting copper concentrates and cathodes to providing finished products and value-added services for markets such as electric vehicles, smart infrastructure and aerospace. This would allow both nations to position themselves as global suppliers of more sophisticated copper products.

Currently, Chile and Peru account for nearly 40% of global supply -- Chile with a projected 5.58 million tons this year and Peru with 2.5 million tons.

The agreement was signed in Arequipa during the PERUMIN mining convention, bringing together the mining ministries of Peru and Chile to coordinate policies on traceability, responsible production and the strengthening of copper-related industries.

News.Az