Where the math is defensible.
Long-form research on live enterprise decisions. Publication is selective. Every number traces to a named source. No takes without evidence.
Peru Mining 2026: Copper Supply, Social Conflict, and the Tax Regime Test
Peru sits at the hinge of the global copper market. Las Bambas blockades, a recalibrated royalty regime, and the second-derivative of Chinese demand will decide whether 2.7 million tonnes is a floor or a ceiling for 2026 output.
Peru is the world's second largest copper producer and the marginal swing supplier into a market that the IEA, Wood Mackenzie, and the LME term-structure all describe as structurally tight through 2028. The country's 2026 trajectory hinges on three variables that rarely move in the same direction: mine site stability across the southern c...
Peru Mining Under Boluarte: Political Risk Through the 2026 Election Cycle
President Dina Boluarte enters her last full year of office with single digit approval, a fragmented Congress, and a copper sector that the state cannot afford to disturb. The April 2026 first round and June 2026 runoff will reset the rules under which Las Bambas, Quellaveco, and the Tia Maria pipeline operate.
Peru is the world's second largest copper producer at roughly 2.6 million tonnes per year, and its political settlement is the variable that decides whether the next administration can hold the line. President Dina Boluarte governs with approval near 5 percent, a Congress that has rejected three constitutional vacancia motions, and a memo...