Peru’s Three Priority Mining Projects Move Forward Amid Political Uncertainty
Marble Portal Mining News – November 2025
Peru’s Ministry of Energy and Mines has identified seven major mining projects slated to begin construction in 2025 — yet only three are showing meaningful progress. The nation’s mining sector, a cornerstone of its economy, continues to advance despite regulatory bottlenecks and political transition.
1. Tía María Copper Project: Back on Track
Operated by Southern Copper, the long-delayed Tía María copper mine has finally received government approval to move into the exploitation phase. Located in the Arequipa region, the project carries an estimated investment of US$1.8 billion and is now entering early construction. Operations are expected to start by late 2026 or early 2027, positioning Tía María as a key driver of Peru’s future copper output.
Despite lingering social opposition, the government views the project as essential to maintaining export growth and investor confidence in the country’s mining pipeline.
2. Corani Silver Project: Engineering Complete, Financing Next
Bear Creek Mining Corporation’s Corani project is another bright spot. The company has completed detailed engineering, updated environmental assessments, and obtained all critical permits. With an investment of roughly US$700 million, Corani is expected to produce 16.3 million ounces of silver annually during its first three years of operation — making it one of the largest undeveloped silver deposits globally.
The project’s progress underscores Peru’s potential to remain a dominant force in global precious-metal supply, even as other sectors slow.
3. Huancapetí Polymetallic Expansion: Building Scale
In July, Compañía Minera Lincuna received regulatory approval for modifications to its Detailed Environmental Impact Study (EIA-d), paving the way for the Huancapetí polymetallic mine expansion. The US$345 million plan will gradually increase daily processing capacity from 3,500 to 10,000 tonnes, supported by a new concentrate plant focused on multi-metal recovery.
This expansion is central to sustaining output in Peru’s high-Andean regions and providing employment in remote mining communities.
Other Projects Await Clearance
Four other replacement projects — San Rafael, Tantahuatay, Colquijirca, and Raura — remain in planning or technical review. Their schedules have slipped amid environmental studies, administrative processes, and local-community negotiations. Analysts believe these could advance in 2026, assuming greater regulatory stability and progress on environmental permitting.
Political Outlook and Ministerial Priorities
The recent appointment of Luis Enrique Bravo de la Cruz as Minister of Energy and Mines could mark a turning point. Bravo has prioritized formalizing artisanal mining, unlocking strategic projects, and strengthening territorial sustainability — all seen as essential to attracting long-term investment.
However, his tenure unfolds during a politically sensitive period, with national elections scheduled for June 2026. Fragmented party dynamics and uncertainty around frontrunner candidates could delay major investment commitments until Peru’s political direction becomes clearer.
Marble Portal Insight
While administrative and political challenges remain, Peru’s mining pipeline continues to move — led by copper, silver, and polymetallic developments. The trio of Tía María, Corani, and Huancapetí demonstrates that investor confidence endures where technical readiness and regulatory alignment exist.
If stability improves in 2026, these projects could reignite a new wave of construction and reaffirm Peru’s position among the world’s top mining destinations.