Economy: Peru

Peru’s copper output rose 3.7% from a year earlier to 236,515 tonnes in July 2026, according to the Ministry of Energy and Mines (MINEM). Iron, tin, molybdenum and silver also rose, while zinc and gold fell.

What We Know

Copper production reached 236,515 tonnes of fine metal in July, up from 228,180 tonnes a year earlier and 8.4% higher than in June. Output for January to July totalled 1,599,115 tonnes, 2.2% more than in the same period of 2025.

Three mines produced just under half of the national copper total: Antamina with 18.6%, Las Bambas with 15.4% and Cerro Verde with 14.4%. Peru is the world’s third-largest copper producer, behind Chile and the Democratic Republic of the Congo, according to the US Geological Survey.

Iron rose 2.4% from a year earlier, tin 6.5%, molybdenum 15% and silver 0.5%. Month on month, molybdenum jumped 19.1% and silver gained 7.2%.

Container cranes at the Port of Callao near Lima, the gateway for much of Peru’s trade. File photo.

Where Output Fell

Zinc output fell 22.2% from a year earlier to 102,141 tonnes, and the January–July total of 746,054 tonnes is 12.0% lower. The Antamina mine, which produced 19,233 tonnes of zinc in July, was the main drag, with its zinc output down 59.1%.

Gold fell 9.0% from a year earlier to 8,449,020 grams of fine gold, about 271,600 troy ounces by our conversion. That is 6.4% more than in June, and the Yanacocha mine led with 16.7% of the national total.

How July Compares with June

Compared with June, copper output rose 8.4%, gold 6.4%, silver 7.2% and molybdenum 19.1%, while zinc edged up 1.0%. July was therefore a recovery month, even though zinc and gold remain below last year’s level.

For the first seven months of the year, copper is up 2.2%, but zinc is down 12.0% and gold is down 6.4% at 58,302,799 grams. The picture is a sector that is lifting copper volumes slowly while two other big export metals shrink.

What Is Not Known

The national statistics institute, INEI, reported gold up 1.8% in July, while the ministry’s bulletin shows a fall of 9.0%. We use the ministry’s tonnage and have not reconciled the two measures.

We could not confirm July volumes for silver, tin and molybdenum, so we give only their percentage changes. We also do not know how much of the copper gain will carry into August.

What It Means for US Readers and Investors

Copper goes into wiring, motors, batteries and data-centre equipment, so supply from Peru feeds into costs for US manufacturers and utilities. A rise of 3.7% is modest, and it does not change the global picture on its own.

Copper prices are set on global markets, so a few thousand extra tonnes from one country rarely move them alone. What matters more for US buyers is whether the large mines keep output steady while demand from electrification and data centres grows.

Peru’s mines also supply zinc and silver, metals used in galvanised steel and in electronics. The 22.2% fall in zinc is a reminder that one large mine can swing a national total.

Investors in copper and silver miners should watch the August bulletin to see whether the July rebound in copper, up 8.4% on June, holds. Zinc and gold are the weak spots in this month’s data.

Earlier this month we reported that Peru’s exports jumped 34% to US$74 billion on mining, and in August we covered mining employment above 291,000 in June. Together they show a sector that is growing in jobs and sales while individual metals move in different directions.

More: Peru news in English, every day from The Rio Times.

Frequently Asked Questions

How much copper did Peru produce in July 2026?

Peru produced 236,515 tonnes of fine copper in July 2026, 3.7% more than a year earlier and 8.4% more than in June. Output for January to July was 1,599,115 tonnes, up 2.2%.

Why did Peru’s zinc output fall?

Zinc output fell 22.2% from a year earlier to 102,141 tonnes. The Antamina mine, down 59.1% to 19,233 tonnes, was the main drag.

Is Peru a top copper producer?

Yes. Peru is the world’s third-largest copper producer, behind Chile and the Democratic Republic of the Congo, according to the US Geological Survey.

Where do the July figures come from?

They come from the mining statistics of Peru’s Ministry of Energy and Mines for July 2026. We read them as reported by Peruvian outlets Proactivo, Rumbo Minero and Energiminas.