The Democratic Republic of the Congo (DRC) surpassed Peru to become the world's second-largest copper producer in 2023, according to media reports.
However, Reuters reports that official data from both nations indicate that it still falls behind Peru in terms of exports.
Last year, Peru managed to export a staggering 2.95 million tonnes of the metal, surpassing its annual production.
Chile continues to hold its position as the leading producer of the red metal.
The Central Bank of the Congo reported last year that the country produced about 2.84 million tonnes of copper.
Peru's output reached 2.76 million tonnes, according to the country’s mining and energy ministry.
The decline in mining investment in Peru has been attributed to bureaucratic hurdles, recent political unrest, and demonstrations.
Peru's minister of energy and mines, Rómulo Mucho, recently expressed optimism about the future of copper production, projecting an increase to 3 million tonnes by 2024.
Major mining firms, such as Freeport-McMoRan, MMG Ltd, BHP, Glencore, Teck Resources, Mitsubishi, and Southern Copper of Grupo México, have established their presence in Peru's Andes.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
