The Zafranal mine He aspires to become one of the main copper production poles in the Arequipa region. With an approximate investment of US $ 1,263 million, this megaproject would have the potential to extract up to 441 million tons of copper sulphides, favoring the energy transition both in Peru and internationally.
Currently, Peru and Chile They are positioned as two of the largest copper producers in the world, since they total 40% of world production, and both are leaders of the region. To encourage this activity, it is sought to undertake and build this mining company, which may require personnel of up to 4,120 people only within the framework of its construction. In addition, it is mentioned that companies in Canada and Japan would already be willing to invest and become shareholders of the work.
Japan and Canada: International companies could invest in the coupriferous project.
According to the report of Zafranalit is planned that its main shareholders are two international companies: the Canadian company Teck resourcesto whom 80% would correspond, and the Japanese company Mitsubishi Materials Corporation, to whom they would have the remaining 20%.
Teck is a Canadian company that is described as leader in resources and focused on supplying essential metals for the world’s energy transition. In addition, they have an insured investment commitment, as mentioned in their official Teck web portal. On the other hand, Mitsubishi Materials is part of the Mitsubishi GroupJapanese international action company.
According to Lombardi’s statements, both companies would be committed to investing in the project. However, one last step would still be missing to confirm your participation: “The idea is to request the final approval to our investors next year, in order to start production in 2029,” he said.
What is the Zafranal Mining Project in Arequipa?
The project Zafranal It extends in a semi -desert zone to more than 1,400 meters above sea level, through the districts of Huancarqui and Lluta, in the Arequipa region, located south of Peru. This mining plant aims to produce a copper concentrate with low gold content, through a chemical process that is known as flotation.
The Zafranal mine, according to estimates, would produce approximately 128,000 tons of copper per year during their first 5 years of life. Subsequently, an annual production of 76,000 tons is estimated during its useful life, a period that would be 19 years, according to the project timeline.
Although they are not yet operating, the managers have the approved environmental impact study, and would begin with the construction phase this 2025. as indicated Zafranalthey are currently processing the respective permits for implementation. According to Lombardi, the approval of mining benefit concession is required, which is the main construction permit, to start this stage.
Copper production news in Peru
Peru, which occupies second place in the World Copper Productionshowed significant growth in copper production. In August 2024, the production of said mineral in the country reached 246,568 fine metric tons, which represents an interannual increase of 10.7%.
On the other hand, Chile continues to lead the copper production Worldwide, with an estimate of reaching 27.3% of global production by 2034, according to data from the Chilean Copper Commission (Cochilco). The country has maintained an average annual growth of 0.5%, and it is expected that by 2027 its production reaches 6.07 million metric tons, driven by the expansion of existing operations and new investments in the sector.
Zetti Gavelán, vice president of the Institute of Mining Engineers of Peru (IIMP), stressed that South America could concentrate up to 60% of the global copper production, especially with the incorporation of new actors such as Ecuador and Argentina, who are carrying out important projects in this area.
Mining in Peru: Production was reduced on the end of 2024
The National Institute of Statistics and Informatics (INEI) reported that in November 2024, the production of key minerals in the Peruvian mining industry, such as copper, gold and zinc, suffered a remarkable fall. In addition, there was a reduction in molybdenum and lead extraction, although its impact on the sector is relatively lower.
Particularly, the copper and zinc production It presents an alarming panorama, with a considerable decrease in its extraction during the first eleven months of 2024. In contrast, gold exploitation has shown growth in the same period, like other minerals such as silver, molybdenum, lead , iron and tin, which have also seen an increase in their production between January and November of the previous year.
Source: Larepublica
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