Project Context and Regulatory Milestone
On October 17, 2025, the Ministry of Energy and Mines (Minem), through Directoral Resolution No. 0692-2025-MINEM/DGM, officially authorized the start of exploitation activities for the Tía María copper project, operated by Southern Peru Copper Corporation in the district of Cocachacra, province of Islay, Arequipa. The authorization follows the project’s completion of all technical and environmental requirements under Peru’s Mining Procedures Regulation (D.S. No. 020-2020-EM) and prior certification granted by Senace. The resolution validates the company’s mining plan and confirms compliance with environmental management instruments approved in earlier stages.
Economic Significance and Social Impact
With an investment exceeding US $1.8 billion, Tía María is designed to produce 120,000 tons of copper cathodes annually, reinforcing southern Peru’s position as a core contributor to the country’s mining output. The project will generate 3,500 jobs during construction and over 5,500 positions (direct and indirect) once operational, in addition to S/ 5.46 billion in royalties and taxes during its first two decades of production. The start of operations—scheduled for 2027—could increase national copper production by 27 percent, consolidating Peru’s global standing as the second-largest copper producer and reaffirming investor confidence in its regulatory framework.
Environmental Compliance and Oversight Outlook
The Minem confirmed that Southern Peru holds the required surface land rights and has fulfilled all environmental obligations, including an approved Environmental Impact Study (EIA) and an updated Technical Sustainability Report validated by Senace in 2021. The resolution stipulates multi-agency supervision involving Osinergmin, OEFA, Sunafil, Senace, and SUCAMEC to oversee environmental, labor, and safety standards. Officials clarified that no prior consultation (consulta previa) applies, as no indigenous communities were identified within the project’s direct area of influence. The approval represents a major boost for Peru’s copper portfolio, signaling a policy commitment to advancing large- scale mining under transparent governance and sustainability criteria.