Peru to Register Highest Growth in Copper Production in Next 8 Years

(LIP_ir) — According to a report released by the Chilean Copper Commission, COCHILCO, Peru will have the highest growth in copper production in the next eight years.

Chile, which is a major copper producer globally, will pass from a 35.2 percent global production to 29 percent by 2016, a significant drop considering that copper production will rise from 17 million metric tons annually to 25 million.

Copper production in Peru will close at 1.11 million metric tons this year, representing 7 percent of the world’s production placing the Andean country as the world’s third copper producer, just behind the United Status, which accounts for 8 percent.

Peru is currently developing nineteen projects related to copper, fifteen of which will produce copper while four are to produce copper cathode.

Among the leading projects is Toromocho, located in Junin. The project is lead by Peru Copper-Chinalco, which is expected to begin operations in 2011.

News source: Andina