Lima, February 03, 2026. The global mining industry is facing a critical race against time as demand for copper and other essential minerals continues to accelerate, while permitting delays and regulatory bottlenecks threaten the pace of new project development. This warning was issued by Roque Benavides, Chairman of Compañía de Minas Buenaventura and one of Latin America's most influential mining executives, during an interview ahead of the World Mining Congress (WMC), which will return to Peru in 2026 after more than five decades.
"In five or six years' time, there is not going to be enough copper in the world for the demand of copper," Benavides said, underscoring the urgency facing the industry as electrification, renewable energy, electric vehicles and decarbonization efforts intensify worldwide.
Copper, he emphasized, is no longer just another industrial metal. "Copper is the metal of the future. It's the metal of the environment, the metal of electric cars, the metal of alternative energies," he said, adding that while copper sits at the center of the transition, other metals such as gold, silver, zinc, lead and tin will remain indispensable for global development.
Permitting Delays: A Global Bottleneck
Benavides pointed to permitting timelines as one of the most pressing challenges facing mining worldwide, not only in emerging economies but across all jurisdictions.
"If we want to develop projects faster, we have to understand that responsible mining needs to go ahead with the project as fast as possible," he stated. "Governments have to deal with permitting, but bureaucracy is not the answer."
According to Benavides, excessive delays risk undermining the world's ability to meet future mineral demand, particularly for copper, where supply gaps are already emerging. "We cannot lose time," he stressed, warning that failure to bring new projects into production will have global consequences for energy security and economic growth.
A Global Platform for Cooperation
Benavides described the World Mining Congress as a uniquely influential platform, distinct from regional or technical events, where governments, companies and industry leaders can address shared challenges.
"The community of mining countries is not that extensive. Canada, Australia, the United States, China, Chile, and countries across Latin America all play an important role. The World Mining Congress brings that global community together.", said.
The World Mining Congress 2026, to be held in Lima from June 24-26, aims to address precisely that challenge redefining how the industry can deliver more minerals, in less time, while maintaining the highest environmental and social standards.