Global surge in critical mineral demand fuels $6.3 bn Peru mining investment plan

The UN Conference on Trade and Development (UNCTAD) warns that demand for critical minerals – lithium, cobalt, graphite, nickel and copper – will skyrocket as the world shifts to clean energy. Its Global Trade Update projects lithium demand to rise more than 350 % by 2040 and graphite over 130 %. Production remains highly concentrated: the Democratic Republic of Congo supplied 74 % of global cobalt in 2025, China 78 % of natural graphite, and Australia, Chile and China together produced over 70 % of lithium. Processing is dominated by China, while Indonesia accounts for 43 % of worldwide nickel refining. Export controls have multiplied, with about 100 new measures since 2020, targeting licences, taxes, bans and quotas.

At the 27th World Mining Congress in Lima, Peru’s Minister of Energy and Mines Waldir Ayasta announced that mining investment in Peru is expected to reach US$ 6.3 billion in 2026. The country’s project pipeline exceeds US$ 64 billion, and mining already contributes roughly 12 % of Peru’s GDP and more than 60 % of its exports. In the first four months of 2026, the sector created an average of 278 000 direct jobs and generated fiscal revenues of over S/ 15 billion, with additional payments exceeding S/ 4.1 billion to mining regions. The announcement underscores Peru’s strategic role as a major producer of copper, silver and zinc and its aim to secure a larger share of the global supply of strategic and critical minerals.