Mining production trends shift in Chile and Peru

Mining sectors in Chile and Peru are experiencing divergent trends. In Chile, copper production has hit its lowest level since 2003, with a 7.1% decline in cumulative production between January and July 2026. This downturn is attributed to unusual storms in the Atacama region, scheduled maintenance at major sites like Codelco, and aging mineral deposits. The decline in mining contributed to a 5.1% drop in Chile's overall industrial production in July.

In contrast, Peru's formal mining sector reported growth in certain areas. According to the Ministry of Energy and Mines, production of iron, tin, and molybdenum increased in June 2026 compared to the previous year, while copper production saw a modest 1.9% increase.

However, Peru continues to face significant challenges from illegal mining. The government has intensified its crackdown, conducting 90 interdiction operations in the first half of August alone, resulting in the destruction of assets valued at over S/ 326 million. Authorities also reported the seizure of a truck carrying 400 sacks of gold-bearing tailings in the Puno region.