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Major copper miner Peru readies US delegation amid tariff threat

11th March 2025

By: Bloomberg

  

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Peru is planning to send a delegation to meet with US officials after the Trump administration announced plans to introduce copper tariffs that may affect the South American nation’s biggest export product.

“The rules of the game are changing quickly under the new North American administration,” Energy and Mines Minister Jorge Montero told reporters in Lima on Monday. Peru is looking to “avoid being hurt by certain restrictive measures that will be implemented due to US interests.”

World No. 3 copper supplier Peru sends some of its metal to the US, although the majority is shipped in semi-processed form to smelters in China. Top US copper producer Freeport-McMoRan owns Cerro Verde, one of Peru’s largest mines mines.

Montero didn’t discuss other Peruvian products that could also be impacted by US tariffs such as blueberries and table grapes.

“Peru is a good strategic ally for the US on business issues, but not just for the US,” Montero said. “Peru is a non-aligned country, one that’s open to investments and business with everyone. We are not committed to a particular geopolitical vision.”

Edited by Bloomberg

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