Peru Clings to Copper Power as Congo Surges and China Dominates Demand

Peru sits firmly in the world’s copper spotlight, but fresh figures from the Peruvian Ministry of Energy and Mines show the country’s place is not as comfortable as it used to be.

From January to April 2025, Peru exported $8.113 billion in copper. That’s up 15.5 percent over last year. Strong global demand is clear, especially from China, which buys close to three-quarters of all Peru’s copper exports.

Japan and Germany get much smaller slices. Copper alone now makes up almost a third of Peru’s total exports. Despite these upbeat export numbers, Peru faces new hurdles.

The Democratic Republic of the Congo (DRC) moved ahead of Peru in 2023 as the world’s second biggest copper producer. Peru stands in third place, behind Chile in first.

Last year, Peru produced 2.74 million metric tons of copper, and industry leaders expect a mild 2-4 percent bump this year. The DRC, meanwhile, has kept growing, using fast mining expansions and fewer regulatory walls to edge out Peru for the number two spot.

Within Peru, not every mine is on the same path. The Las Bambas mine, for example, grew its output by more than 70 percent in the first four months of 2025.

That one mine now accounts for over 15 percent of Peru’s national copper total. Other mines like Southern Copper and Cerro Verde showed less growth, or even declines, highlighting mixed fortunes across the sector.

Peru’s mining sector attracted nearly $5 billion in investments in 2024, with $4.8 billion projected this year. While that sounds strong, investors look closely at the country’s stability and project delays.

Social protests and delays in government permits sometimes stall big projects and cut into the country’s overall output. The story behind the numbers is about power and risk.

On one hand, Peru’s copper is essential for powering electric vehicles, wind farms, and new technology worldwide. On the other, Peru now relies on a single buyer—China—for most of its exports. If China’s demand dips, or if trade barriers rise, Peru’s economy could feel the shock deeply.