Las Bambas, the large-scale copper mine operated by MMG in the Apurímac region, is projected to become Peru’s leading copper producer by 2026, surpassing major players such as Antamina and Cerro Verde. After years of recurring social unrest and operational stoppages, the mine is now recovering momentum. According to economist Elmer Cuba, partner at Macroconsult, Las Bambas’ production trend shows a consistent upward trajectory—suggesting that, barring further disruptions, it could soon take the top spot in national output. If realized, this shift would represent a major milestone for the Peruvian mining sector.
Cuba emphasized that this growth is not isolated. Large-scale producers like Southern, Cerro Verde, and Antamina are also expected to contribute to a historic copper production record in 2025, driven by strong international demand and favorable market prices. Mining exports could exceed USD 60 billion this year, consolidating copper’s role as Peru’s primary source of foreign exchange. As global electrification and energy transition policies accelerate, Peru’s vast copper reserves position the country as a strategic supplier in the global minerals economy.
However, Cuba also warned that structural challenges threaten the sustainability of this mining boom. Chief among them are excessive bureaucratic delays—often referred to as “tramitomanía”—that slow down investment approvals and project expansions. Additionally, the rapid growth of informal mining, now representing nearly half of the country’s gold exports, poses legal, environmental, and fiscal risks. If Peru intends to capitalize fully on the copper surge and maintain competitiveness, Cuba argued, it must streamline permitting processes and combat informality decisively. In this context, Las Bambas not only signals a shift in production leadership but also underscores the urgency of unlocking the country’s mining potential through institutional reform.