Peru was the world's second-ranked producer of silver
Pictured: silver-bismuth ore
Statistics and information on the mining industry in Peru.
Overview
In 2024, Peru was estimated to be the world’s first-ranked producer of arsenic trioxide, accounting for 49% of global production; second-ranked producer of silver, accounting for 14% of global production, and zinc, accounting for 12%; third-ranked producer of copper, accounting for 12% of global production, lead, accounting for 6%, and tin, accounting for 11%; and fourth-ranked producer of molybdenum, accounting for 15% of global production. Other mineral commodities produced included andalusite, crude borates, cadmium, crude borates, diatomite, gold, iron ore, phosphate rock, and selenium.
The mineral industry continued to be one of the major contributors to Peru’s gross domestic product (GDP), contributing about 12% to the country’s total GDP. In 2024, the total value of Peru’s mineral exports accounted for 64% of the country’s total exports. The legislative framework for the mineral sector in Peru is provided by Supreme Decree No. 014–92–EM, the Ley General de Mineria [General Mining Law]. The Ministerio de Energía y Minas (MEM) oversees the country's mineral industry. The majority of mining operations in Peru were privately owned.
In 2024, Minera Chinalco Perú S.A. continued with its expansion project (phase II) at Toromocho located in Junin Region. The Toromocho phase II expansion, which was expected to be completed in 2025, would add 75,000 metric tons per year of copper. Compañía de Minas Buenaventura S.A.A. also continued with the development of the San Gabriel project located in Moquegua Region. The project, which was expected to produce about 3,900 kilograms per year of gold, had an estimated mine life of about 14 years and was expected to begin commercial production in 2025.
Peru continued to be among the world’s leading producers of many nonfuel minerals and base metals. In 2024, the country was estimated to rank first among the world’s producers of arsenic trioxide (accounting for 49% of global production); second among world’s producers of silver (accounting for 14% of global production) and zinc (12%); third among world’s producers of copper (accounting for 12% of global production), lead (6%), and tin (11%); and fourth among the world’s producers of molybdenum (accounting for 15% of global production) (Flanagan, 2026, Friedline, 2026; Hartingh, 2026; Klochko, 2026; Polyak, 2026; Schnebele, 2026; Tolcin, 2026).
In 2024, Peru’s real gross domestic product (GDP) increased by 3.5% in 2024 compared with a decrease of 0.4% in 2023. The mineral industry, which included nonfuel minerals and hydrocarbons, continued to be one of the major contributors to the country’s GDP, contributing about 12% to the total GDP. The production of metals, such as copper, gold, iron, lead, molybdenum, silver, tin, and zinc, accounted for 9% of Peru’s total GDP in 2024 and about 74% of the output value of the mineral industry (Banco Central de Reserva del Perú, 2026).
Minerals in the National Economy
The output value of Peru’s mineral industry increased by about 3% in 2024, which was mainly attributed to an increase in the output value of metals, by 3%. Direct employment in the mining sector increased to 238,860 people in 2024 from 226,237 people in 2023. Of these 238,860 workers, about 14% worked in the Arequipa Region and 9% each in the Ancash and La Libertad Regions (Ministerio de Energía y Minas, 2025, p. 116–117; Banco Central de Reserva del Perú, 2026).
In 2024, new investments in the country’s mining sector increased to \$5.0 billion compared with \$4.9 billion in 2023. Compañia Minera Antamina S.A. (Antamina) was ranked first (invested \$689 million) among the mining companies investing in the country, followed by Minera Las Bambas S.A. (Las Bambas; \$385 million), Sociedad Minera Cerro Verde S.A.A. (Minera Cerro Verde; \$355 million), Anglo American Quellaveco S.A. (Quellaveco; \$346 million), and Southern Peru Copper Corp. (Southern Peru; \$312 million). The Ancash Region received \$761 million of Peru’s mining investments, mainly from the Antamina project; Moquegua Region received \$715 million, mainly from Quellaveco and Compañía de Minas Buenaventura S.A.A. (Buenaventura) projects; and Arequipa received \$539 million, mainly from Minera Cerro Verde (Ministerio de Energía y Minas, 2025, p. 92, 95).
In 2024, Peru’s portfolio of mining investment projects included 51 major projects at various stages of exploration and (or) development, with a total investment of \$54.5 billion. About 34% (about \$18.5 billion) of these investments was for projects at the prefeasibility stage, about 30% (about \$16.3 billion) was for projects at the feasibility stage, and about 8% (about \$4.0 billion) for projects at the construction stage. Copper projects accounted for about 73% of the total investment, followed by gold (13%) and iron ore (9%). The remaining 5% of the total investment included phosphate rock, silver, and zinc projects. China ranked first among the countries investing in mining projects in Peru, accounting for about 21% of investments, followed by Canada (about 19%), Mexico (about 17%), and the United States and the United Kingdom (about 14% each) (Ministerio de Energía y Minas, 2024, p. 7–8, 21–22, 25–26, 30–31).
Government Policies and Programs
The legislative framework for the mineral sector in Peru is provided by Supreme Decree No. 014–92–EM, the Ley General de Mineria [General Mining Law]. The Ministerio de Energía y Minas (MEM) is the Government agency responsible for the administration and regulation of the energy and mining sectors. The Instituto Geológico Minero y Metalúrgico [Geological, Mining, and Metallurgical Institute] of the MEM is the authority responsible for all legal matters related to geoscience research and for the management of land and mining concessions. The Dirección General de Minería (DGM) [General Mining Directorate] of the MEM has the responsibility to address all legal matters related to mining sector policy. The Dirección General de Formalización Minera (DGFM) [General Directorate of Mining Formalization] of the MEM is responsible for policies regarding the formalization of the artisanal and small-scale mining sector as well as for issuing and implementing related regulations. More-extensive coverage of Government policies and programs can be found in previous editions of this chapter in the U.S. Geological Survey Minerals Yearbook, volume III, Area Reports — International — South America, which are available at https://www.usgs.gov/centers/national-minerals-information-center/south…;
Production
Data on mineral production are in the Production table (formerly table 1).
Structure of the Mineral Industry
The majority of the mining operations in Peru were privately owned. The Facilities table (formerly table 2) is a list of major mineral industry facilities.
Mineral Trade
In 2024, the value of Peru’s total exports amounted to about \$75.9 billion compared with \$67.5 billion in 2023. The value of Peru’s mineral exports equaled \$48.7 billion, or 64% of the country’s total exports in 2024. Metals, which included copper, gold, iron, lead, molybdenum, silver, tin, zinc, and others, accounted for \$47.7 billion, or 63% of the total exports. Copper continued to be the leading mineral export, accounting for about 49% of Peru’s total metal exports, in terms of value, followed by gold (32%) and lead and zinc (5% each). The country’s leading metal export recipients were, in order of export value, China (which received about 48% of Peru’s metal exports), India (about 10%), Canada (about 7%), and Switzerland and the United States (about 5% each) (Ministerio de Energía y Minas, 2025, p. 57).
Commodity Review
Copper.—In 2024, Peru’s leading copper companies were, in order of output, Antamina and Cerro Verde (which accounted for about 16% each of the country’s total copper production each), Southern Copper (15%), and Las Bambas (12%). The Arequipa and Moquegua ranked first among the country’s copper-producing regions in 2024, accounting for about 17% each of the amount produced, followed by the Ancash (16%) and Apurimac (12%) Regions. During the year, total copper production in the country slightly decreased to about 2.74 million metric tons (Mt) compared with 2.76 Mt in 2023. The slightly decrease in total copper production was mainly attributed to Cerro Verde and Quellaveco, which decreased its production by 4% each (Ministerio de Energía y Minas, 2025, p. 60–63).
Minera Chinalco Perú S.A (Chinalco), which was owned by Aluminum Corp. of China Overseas Holding Ltd., continued with its expansion project (phase II) at Toromocho located in Junin Region. The project’s phase II would increase the plant’s production capacity to 170,000 metric tons per day (t/d) of copper ore from 140,640 t/d. As a result, the expansion project, which was expected to be completed in 2025, would add 75,000 metric tons per year (t/yr) of copper (Minera Chinalco Perú S.A., 2020, p. 1–5; Ministerio de Energía y Minas, 2025a, p. 103, 2025b, p. 34, 56).
Gold and Silver.—Peru’s leading gold producers were, in terms of output, Minera Yanacocha S.R.L. (Yanacocha), which accounted for about 10% of the country’s gold production, Compañia Minera Poderosas S.A. (8%), Mineral Boroo Misquichilca S.A. (7%) and Consorcio Minero Horizonte S.R.L. (6%). Gold production from the La Libertad Region accounted for about 33% of the country’s total gold production, followed by the Arequipa (20%), and the Cajamarca (19%) Regions. In 2024, total gold production increased by about 7% to 108,148 kilograms (kg) from 100,986 kg (revised), which was mainly attributed to increases in the production of gold from Minera Boroo Misquichilca, which increase its production by about 33%, and Yanacocha (by about 29%). In 2024, production of gold from large- and medium-scale operations accounted for about 81% of total gold production, followed by small-scale operations (about 18%) and artisanal mining (nearly 1%) (Ministerio de Energía y Minas, 2025a, p. 64–67).
Buenaventura ranked first among the country’s silver producers in 2024, accounting for about 11% of the total production, followed by Antamina (10%), and Chinalco (7%). The Lima Region accounted for about 20% of the country’s total silver production, followed by the Pasco (16%) and Ancash (15%). Production of silver increased by about 15% to 3,511,000 kilograms in 2024, which was mainly attributed to increases in production by the country’s leading silver producers, including Buenaventura (by 268%) and Chinalco (by 16%). Production of lead by large- and medium-scale producers accounted for about 98% of Peru’s total silver production (Ministerio de Energía y Minas, 2025a, p. 72–75).
Buenaventura (100% interest) also continued with the development of the San Gabriel project located in Moquegua Region. The project was expected to be developed as an underground mine and to have a capacity to produce about 3,900 kilograms per year of gold. San Gabriel, which had an estimated mine life of about 14 years, was planned to begin commercial production in 2025 (Ministerio de Energía y Minas, 2025a, p. 103, 2025b, p. 34, 56).
Iron Ore.— In 2024, production of iron (metal) increased to 13.3 Mt from 12.9 Mt in 2023, which was mainly attributed to an increase in the production of iron at Shougang Hierro Peru S.A.A., which continued to be the main producer of iron ore in Peru. During the year, Shougang Hierro Peru produced about 98% of the total iron output from its Marcona open pit mine located in the Ica Region whereas Minera Shouxin Peru produced the remaining 2% from its Marcona tailings recovery project (Ministerio de Energía y Minas, 2025a, p. 80–81).
Lead and Zinc.—The country’s leading lead producers were, in terms of output, Nexa Resources El Porvenir S.A.C., which accounted for about 10% of Peru’s total lead production in 2024, followed by Volcan Compañia Minera S.A.A (Volcan; 9%), and Buenaventura, Compañía Minera Chungar S.A.C., and Compañía Minera Kolpa S.A. (7% each). The Pasco Region accounted for about 30% of the country’s total lead production followed by the Lima (about 17%) and the Ica and Junin (11% each) Regions. In 2024, production of lead by large- and medium-scale producers accounted for about 99% of Peru’s total lead production. During the year, lead production in the country increased by 7% to 291,319 t, which was mainly attributed to increased production at Buenaventura (by about 268%) and Minera Shouxin Peru S.A. (110%) (Ministerio de Energía y Minas, 2025a, p. 76–79).
In 2024, Antamina continued to be the leading zinc producer in the country, accounting for about 25% of the country’s total zinc production, followed by Volcan (13%) and Minera Shouxin Peru and Nexa Resources Peru S.A.A. (7% each). The leading zinc-producing Regions were, in order of output, Ancash (which produced about 30%), Junin (18%), Ica (15%), and Pasco and Lima (13% each). During the year, production of zinc by large- and medium-scale producers accounted for about 99% of Peru’s total zinc production. Peru’s production of zinc decreased by about 13% in 2024, which was mainly attributed to decreased production at Antamina (by about 40%), and Volcan (by 5%) (Ministerio de Energía y Minas, 2025a, p. 68–71).
Molybdenum.—Peru’s leading molybdenum producers were, in terms of output, Southern Peru Copper, which accounted for about 32% each of the country’s total molybdenum production; Cerro Verde (by about 22%), Antamina (20%), and Quellaveco (13%). During the year, molybdenum production increased by about 25% to 41,942 t. The increase was mainly attributed to increased production at Antamina (by about 134%) and Quellaveco (by about 67%) (Anglo American plc, 2024; Ministerio de Energía y Minas, 2025a, p. 84–86).
Tin.—Minsur S.A.’s tin operations included the San Rafael underground mine and B2 tailings reuse plant (B2 plant), located in Puno Region, and the Pisco smelter and refinery, located in Ica Region. During the year, production at San Rafael Mine and B2 plant increased by about 23% compared with that of in 2023. The B2 plant, which recovers tin contained in the old tailings dam of the San Rafael Mine since 2020, produced 7,868 t of tin in 2024. The B2 plant had an estimated tailings inventory of 4 years (Minsur S.A., 2025, p. 7, 13).
Production table
(Metric tons, gross weight, unless otherwise specified)
| Commodity | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Arsenic trioxide | 19,000e | 22,000e | 25,400e | 31,200e | 31,000e |
| Barite | 5,252 | 10,361 | 29,293 | 11,743 | 9,129 |
| Bentonite | 25,532 | 56,199 | 22,931 | 24,783 | 42,411 |
| Bismuth, mine, Bi content | 74 | 247 | 251 | 304 | 265 |
| Cadmium, refinery, primary | 451 | 636 | 460 | 494 | 317 |
| Cement, hydraulic | 9,140,000 | 12,855,000 | 13,196,000 | 11,404,000 | 11,066,000 |
| Common clay | 632,990 | 1,446,318 | 1,439,063 | 1,207,557 | 997,690 |
| Copper, mine, concentrates, Cu content | 2,086,694 | 2,246,466 | 2,343,928 | 2,645,192 | 2,638,908 |
| Copper, mine, solvent extraction, Cu content | 67,258 | 83,420 | 101,182 | 113,642 | 97,257 |
| Copper, refinery, primary, leaching, electrowon, Cu content | 67,258 | 83,420 | 101,182 | 113,642 | 97,257 |
| Copper, refinery, primary, other, electrolytic, Cu content | 256,322 | 260,174 | 289,729 | 289,660 | 287,898 |
| Copper, smelter, primary, Cu content | 342,738 | 308,221 | 324,136 | 359,951 | 358,908 |
| Diatomite | 85,406 | 94,860 | 104,660 | 98,872 | 83,642 |
| Feldspar | 24,132 | 27,274 | 24,358 | 14,111 | 8,166 |
| Gold, mine, Au content (kilograms) | 84,639 | 96,407 | 95,960 | 100,478 | 107,608 |
| Gold, mine, placer, Au content (kilograms) | 2,818 | 1,086 | 1,006 | 508 | 540 |
| Gypsum, crude | 171,093 | 435,009 | 315,292 | 338,598 | 333,797 |
| Iron ore, mine | 13,300,000 | 18,100,000 | 19,300,000 | 19,400,000 | 19,800,000 |
| Iron ore, mine, Fe content | 8,893,972 | 12,149,274 | 12,936,826 | 12,986,023 | 13,309,265 |
| Kaolin | 12,536 | 13,142 | 14,300 | 11,876 | 11,452 |
| Kyanite and related materials, andalusite | 35,000e1 | 42,000e1 | 43,000e1 | 40,000e1 | 40,000e1 |
| Lead, mine, Pb content | 241,548 | 264,162 | 255,000 | 273,335 | 291,319 |
| Lead, refinery | 10,000e | 13,000e | 15,000e | 15,000e | 11,000 |
| Mica | 122 | 143 | 0 | 0 | 0 |
| Molybdenum, mine, Mo content | 32,185 | 34,148 | 31,588 | 33,476 | 41,942 |
| Nitrogen, ammonia, N content | 11,000e | 11,000 | 12,000 | 12,000 | 11,000e |
| Phosphate rock | 3,300,000 | 4,200,000 | 4,200,000 | 4,700,000 | 4,800,000 |
| Phosphate rock, P2O5 content | 980,000e | 1,250,000e | 1,250,000e | 1,400,000e | 1,426,000e |
| Raw steel | 731,000 | 1,234,000 | 1,101,946 | 1,558,858 | 1,590,000 |
| Salt, all types | 1,030,598 | 1,175,828 | 1,093,559 | 1,008,624 | 1,051,498 |
| Sand and gravel, construction, sand | 930,108 | 1,487,368 | 1,692,778 | 2,209,345 | 2,831,968 |
| Sand and gravel, industrial, quartz, including quartzite | 41,058 | 54,616 | 40,009 | 51,120 | 30,863 |
| Sand and gravel, industrial, sand, silica | 357,646 | 489,656 | 585,946 | 637,973 | 491,264 |
| Selenium, refined metal, Se content (kilograms) | 52,700 | 48,200 | 56,900 | 49,900 | 52,800 |
| Silver, mine, Ag content (kilograms) | 2,721,461 | 3,333,632 | 3,084,039 | 3,041,394 | 3,511,000 |
| Silver, refinery, primary, Ag content | 136 | 166 | 162 | 158 | 127 |
| Stone, crushed, limestone | 20,567,798 | 29,697,392 | 33,785,786 | 38,239,625 | 24,387,240 |
| Stone, crushed, unspecified | 4,611,927 | 6,708,718 | 8,262,264 | 7,568,618 | 8,445,064 |
| Stone, dimension, marble | 274 | 280 | 297 | 252 | 454 |
| Stone, dimension, onyx | 90 | 25 | 212 | 20 | 23 |
| Stone, dimension, slate | 30,205 | 49,682 | 24,040 | 68,260 | 73,984 |
| Stone, dimension, travertine | 188,804 | 227,153 | 188,393 | 225,179 | 258,615 |
| Talc and related materials, talc | 17,418 | 23,039 | 23,298 | 16,019 | 8,182 |
| Tin, mine, Sn content | 20,647 | 26,995 | 28,231 | 26,230 | 32,317 |
| Tin, smelter, primary | 19,585 | 25,947 | 26,706 | 25,374 | 32,317 |
| Zinc, mine, Zn content | 1,334,570 | 1,533,135 | 1,369,649 | 1,469,127 | 1,270,646 |
| Zinc, smelter, primary | 305,389 | 328,129 | 332,824 | 323,059 | 334,078 |
References Cited
- Banco Central de Reserva del Perú, 2026, Producto bruto interno por sectores productivos (millones S/ de 2007) [Gross domestic product by productive sectors (millions (S/ 2007]: Lima, Peru, Banco Central de Reserva del Perú. (Accessed February 2, 2026, at https://estadisticas.bcrp.gob.pe/estadisticas/series/anuales/pbi-por-se….) [In Spanish.]
- Flanagan, D.M., 2026, Copper: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 72–73.
- Friedline, C.A., 2026, Tin: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 194–195.
- Hartingh, A.M., 2026, Silver: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 172–173.
- Klochko, Kateryna, 2026, Lead: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 114–115.
- Minera Chinalco Perú S.A., 2020, Modificacion del estudio de impacto ambiental para el proyecto de expansión de la unidad minera Toromocho a 170,000 TPD [Modification of the environmental impact study for the expansion project of the Toromocho mining unit to 170,000 TPD]: Lima, Peru, Minera Chinalco Perú S.A., June 155 p. (Accessed March 20, 2026, at https://www.chinalco.com.pe/sites/default/files/meia/1.0%20Resumen%20Ej….) [In Spanish.]
- Ministerio de Energía y Minas, 2024, Porfolio of mining—Investment projects: Lima, Peru, Ministerio de Energía y Minas, February. (Accessed March 3, 2026, at. https://cdn.www.gob.pe/uploads/document/file/6762263/5325671-cpim-2024-…;
- Ministerio de Energía y Minas, 2025a, Anuario minero 2024 [Mining yearbook 2024]: Lima, Peru, Ministerio de Energía y Minas, May, 162 p. (Accessed February 2, 2026, at https://cdn.www.gob.pe/uploads/document/file/8155729/6827926-anuario-mi….) [In Spanish.]
- Ministerio de Energía y Minas, 2025b, Cartera de proyectos de inversión minera 2023–Actualización julio 2023 [Mining investment—project portfolio—July 2023 update]: Lima, Peru, Ministerio de Energía y Minas, July. (Accessed December 19, 2025, at https://cdn.www.gob.pe/uploads/document/file/4909250/Actualizaci%C3%B3n….]) [In Spanish.]
- Polyak, D.E., 2026, Molybdenum: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 130–131.
- Schnebele, E.K., 2026, Arsenic: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 44–45.
- Tolcin, A.C., 2026, Zinc: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 212–213.
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