Peru expects new mining projects to increase annual copper production by about 1 million metric tons within five to six years, Energy and Mines Minister Guillermo Shinno told Reuters. Output is expected to remain between 2.5 million and 2.7 million tons this year, roughly unchanged from 2023 because of declining ore grades and recurring social conflicts. The newly elected conservative government of President Keiko Fujimori is seeking to revive stalled projects by reducing bureaucracy. The government has identified 27 of roughly 100 mining permits that could be eliminated, while saying environmental standards will not be weakened. About 70% of Peru’s $64 billion mining project pipeline is linked to copper, although most of the roughly $7 billion in mining investment expected in 2026 is intended to sustain existing operations or extend mine life. Chinese companies including MMG, Chinalco, Shougang and Jinzhao, as well as U.S. miners Newmont and Freeport-McMoRan and global firms First Quantum, Barrick, Anglo American and Glencore, have met with the administration or expressed interest. First Quantum is seeking to advance La Granja, while Chinalco acquired Los Calatos in July. The government estimates future investments of $2.4 billion for La Granja and $655 million for Los Calatos. Shinno also expects more U.S. investment after Peru and the United States signed a critical minerals cooperation agreement in February.