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Copper investment pledges in South America may fall short

Peru’s 2026 mining portfolio totals $64.1 billion and Chile’s pipeline reaches $104.5 billion, but GEM warns that announced copper deliveries could lag demand expectations by 2035.

Reported · Written up by our desk · Mining

South America’s planned copper expansion in the Andes may not deliver the production growth governments expect, a warning from GEM Mining Consulting, cited by Mining.com.

The report points to large investment pipelines, including 66 Peru projects in 2026 valued at an estimated $64.1 billion and a Chile investment pipeline totaling $104.5 billion for 2025 to 2034.

GEM also highlighted financing efforts, including Argentina’s potential use of a US Export-Import Bank framework aimed at mobilizing up to $7 billion through 2027.

Mining.com added that GEM said “copper announced is not copper delivered,” noting that the International Energy Agency’s 2026 base-case mine pipeline implies about a 25% shortfall versus projected primary copper requirements by 2035, reflecting the need to get new mines into production despite secondary supply and refining losses.

Latest closeCopper $6.544 ▼0.8%

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