Key Facts
—Forecast. Peru’s mining investment could exceed US$8 billion in 2026, the strongest year since 2014, according to the Peruvian Economic Institute (IPE), a business-linked think tank.
—Year to date. Mining investment reached US$4.117 billion in January–July, up 45% from US$2.839 billion a year earlier, according to the Ministry of Energy and Mines (MINEM).
—July. Investment in July alone was US$812 million, up 55.1% from July 2025.
—Gap to target. Peru needs about US$3.883 billion more in August–December to pass US$8 billion.
—Last year. Mining investment in 2025 was US$6.228 billion.
—Power Index Peru ranks 5th of 14 in The Rio Times Latin America Power Index, with 54.7 points (October 2026 edition).
Peru’s mining investment is on track for its best year since 2014, with the Peruvian Economic Institute (IPE) forecasting more than US$8 billion in 2026. The Ministry of Energy and Mines (MINEM) reported US$4.117 billion invested in January–July, up 45% from a year earlier.
Peru is one of the world’s biggest copper producers, so the investment matters to US manufacturers and to investors in listed miners such as Southern Copper. The IPE published its forecast on Monday, 19 October 2026.
The Numbers
MINEM data show US$4.117 billion invested in January–July 2026, against US$2.839 billion in the same period of 2025. July alone brought US$812 million, up 55.1% from July 2025.
Investment in 2025 was US$6.228 billion, up 24.3% and the largest in a decade, according to MINEM. To pass US$8 billion in 2026, Peru would need about US$3.883 billion more in August–December.
What Is Driving It
The IPE points to construction at Tía María, a copper project in Arequipa developed by Southern Perú, a subsidiary of Southern Copper. It also cites work at Shougang Hierro Perú, an iron ore mine in Ica, and at Antamina, a copper and zinc mine in Áncash.
Tía María is expected to add 120,000 tonnes of refined copper a year once it starts up, which the company targets for the second half of 2027. Our report on the Tía María fast-track push explains the project’s history.
The Wider Economy
The IPE estimates that total private investment will grow about 15% in 2026, with growth near 14% in the third quarter. Business credit grew 10% through August, its fastest pace since 2014.
The Ministry of Economy and Finance projects mining investment growth of 16.7% in 2026 and 8% in 2027 in its multiannual macroeconomic framework. MINEM puts the pipeline of future mining projects at US$64.075 billion across 66 projects in 19 departments.
MINEM also reported that Peru’s mining watchdog agency awarded the Quiulacocha tailings reprocessing project in Pasco to Cerro de Pasco Resources del Perú on 12 October. The award depends on signing final agreements.
What It Means for You
Higher investment points to more future copper supply from Peru, which matters to US buyers of metals and to investors in mining stocks. Our Peru copper guide and Peru coverage give the background.
Forecasts can miss, and projects in Peru often face local opposition and permit delays. Investors should read the IPE figure as a forecast, not a result.
What Is Not Known
The IPE figure is a projection, and the second-half total is not yet known. MINEM and the IPE use different measures, so growth rates differ, for example the IPE puts first-half growth at 34% while MINEM reported 42.7%.
We have not seen company-level spending figures for each project. The timing of the Tía María start-up also depends on construction progress.
Sources
Gestión · IIMP · La Cámara (MINEM data) · Proactivo (MINEM 2025 data) · Energiminas (portfolio) · Mining Weekly (Quiulacocha)
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
Frequently Asked Questions
How much mining investment does Peru expect in 2026?
The IPE forecasts more than US$8 billion, which would be the highest since 2014. MINEM reported US$4.117 billion in January–July.
How fast is Peruvian mining investment growing?
MINEM reported 45% growth in January–July against the same period of 2025. July alone rose 55.1% from a year earlier.
Which projects are behind the rise?
The IPE cites Tía María in Arequipa, plus work at Shougang Hierro Perú and Antamina. Tía María is expected to add 120,000 tonnes of refined copper a year.
How large is Peru’s mining project pipeline?
MINEM values the portfolio at US$64.075 billion across 66 projects in 19 departments. Not all of these projects will be built.