There are five major copper mines or expansions under development in Peru, with an estimated total investment of $13 billion, that are expected to begin production in Peru before 2016. These will raise the country’s output of copper from 1.3 Mt last year to 2.8 Mt. According to data provided by the Minister of Energy and Mines (MEM), the first one to go into production should be begin mining is Hudbay Minerals’ Constancia project in Cusco (shown in the picture), scheduled to start in August. It is expected to produce 5,000 to 10,000 t of copper this year.

Located in the southeastern Andes, in the Chamaca and Livitaca Districts, Province of Chumbivilcas, Department of Cusco, the open-pit Constancia property covers 22,516 ha in 36 mineral concessions. As well as copper, there is molybdenum and silver.

Next year three other projects should come on stream: The $5.2 billion Las Bambas in March, Freeport McMoRan Copper & Gold’s $4.4 billion expansion of its Cerro Verde mine in August, and Southern Copper’s Toquepala $900 million expansion in July.

Southern Copper is also expected to finish work at its $1 billion Tía María near Arequipa in March 2016. It is expected to produce 120,000 t/y of copper.

The steady growth of Peru’s economy in recent years has been largely driven by mine development and production. Last year the country injected $9.7 billion of mining revenues to the local economy, jumping 14% when compared to 2012. Authorities has said they expect to reach similar levels by the end of this year.