What are you looking for?

• The Head of Copper and Zinc Markets at CRU Group emphasized that global demand for copper is expected to continue to rise, fueled by electrification, electric vehicles, and energy transition.
• The expert highlighted that Peru possesses competitive projects and unique advantages that are challenging to replicate; however, he cautioned that the primary challenge lies in the timely execution of investments. 

Lima, May 27, 2026. Erik Heimlich, Head of Copper and Zinc Markets at CRU Group, stated that Peru holds a strategic position in the global copper market, attributed to the quality of its mining projects and the significant untapped development potential within the country.

In his presentation at the SIMPOSIO – XVI International Mining Meeting, organized by the National Society of Mining, Petroleum, and Energy (SNMPE), he examined the global outlook for copper demand, the challenges associated with developing new mining supply, and Peru’s competitive standing in the context of increasing competition for capital and investment.

Heimlich explained that the copper market is currently undergoing significant growth, driven by factors associated with the electrification of economies, advancements in electric vehicles, the expansion of renewable energy, and the development of electrical infrastructure. “We are observing growth rates in copper demand that are atypical for this market, influenced by strategic and geopolitical factors,” he remarked.

The expert emphasized that this robust demand is also evident in pricing and the incentives to initiate new mining projects. However, he cautioned that the supply response has been slower than anticipated, as projects are becoming increasingly complex, capital-intensive, and challenging to execute.

“Today, building mines is very different from what it was a few years ago. Projects are now deeper, more expensive, and require longer development timelines,” he explained. He further noted that the industry must adopt new initiatives to address the anticipated growth in global copper demand in the coming years.

In this context, Heimlich asserted that Peru holds significant competitive advantages over other mining jurisdictions. He pointed out that the country has efficient projects, extensive mining experience, and a well-established industry, positioning it favorably within the global copper investment landscape.

“Peru’s projects are typically located on the most efficient part of the cost curve and, from an economic standpoint, merit development. However, the primary challenge remains the acceleration of projects that have been delayed for years,” he stated.

He emphasized that the country has considerable production potential tied to greenfield projects that are either stagnant or progressing slowly. “This presents a significant opportunity for Peru,” he concluded.

Photos are available at the following link: https://flickr.com/photos/195630249@N08