Peru's mining revenues surge 63% as mineral prices hit record highs

Peru's formal mining sector generated S/15.272 billion in fiscal revenue between January and April 2026, a 62.8% increase over the same period in 2025. In just four months the sector collected almost the total amount recorded for the whole of 2023 (S/16.112 billion). Mining royalties rose 143% in April, lifting regional governments, municipalities and public universities to receive S/4.121 billion.

Export value also climbed, with mineral exports reaching US$21.425 billion in the first quarter of 2026, up 57.3% year‑on‑year. However, volumes fell: copper shipments dropped 1.9% to 697,400 metric tons and gold sales slipped 1.4% to 1.62 million ounces. Production gains were modest—copper output rose 3.6% but remains around 2.7 million tons annually, while gold output fell 4.1%.

The surge in revenue is driven almost entirely by higher international mineral prices rather than increased production, prompting tax specialists to warn that Peru is not fully capitalising on the favourable market environment.