Peru to Fall Short of 3M Metric Ton Copper Production Goal Peru, the world’s third-largest copper producer, is expected to fall short of its government’s goal of producing 3 million metric tons of copper this year, with output likely reaching 2.8 million tons, according to deputy mining minister Henry Luna. This comes despite a new government norm allowing copper processing plants to increase capacity by 10%. Copper production through July 2024 was down 2.3% compared to the same period last year, reaching 1.51 million tons, with significant declines at major mines like Cerro Verde, Las Bambas, and Toromocho. In July alone, production dropped 3.2% year-over-year. (Source: https://www.mining.com/web/peru-copper-output-down-2-3-this-year-through-july-data-shows/)
As the demand for new mining projects grows to meet global needs, Libero Copper’s (LBC.v LBMF) Mocoa Copper-Molybdenum Project in Colombia stands out as a crucial asset.
With an estimated 4.6 billion pounds of copper and substantial molybdenum resources, Mocoa is one of the largest undeveloped copper deposits in the region. This positions Libero Copper as a key contributor to future copper supply, which is essential for global electrification and decarbonization.
For more details, refer to this in-depth analysis on LBC: https://www.reddit.com/r/RichTogether/comments/1f8cttz/libero_copper_lbcv_46_billion_pounds_of_copper/
Posted on Behalf of Libero Copper and Gold Corp.