Copper
December 16, 2024
2 min
Copper
In 2024, the world’s largest copper mines by annual production capacity are spread across various continents, with Latin America leading the charge. At the top is Escondida in Chile, the largest copper mine globally, with a production capacity of 1.35 million metric tons per year. Owned by BHP and Rio Tinto, Escondida is crucial to both Chile's economy and the global copper supply.
Grasberg, located in Papua Province, Indonesia, is the second-largest copper mine with an annual capacity of 770 kt. It’s also one of the world’s richest gold mines, significantly contributing to Indonesia's economy. Co-owned by PT Freeport Indonesia and the government, it plays a key role in the global copper and gold markets.
Collahuasi, located in northern Chile, has an annual copper production capacity of 640 kt and operates at high altitudes in the Atacama Desert. Co-owned by Anglo American and Glencore, it is a major contributor to Chile's economy. The mine is known for its advanced technology and commitment to sustainability and local communities.
In North America, Morenci in Arizona leads with an annual capacity of 570 kt. It is operated by Freeport-McMoRan in partnership with Sumitomo Corporation. Close behind is Mexico's Buenavista del Cobre, with a capacity of 535 k. It is owned by Grupo México and includes open-pit operations and significant leaching facilities.
Antamina (450 kt) and Cerro Verde II (500 kt) are two of Peru's largest copper mines. Antamina is co-owned by BHP, Glencore, and other partners. Cerro Verde II, operated by Freeport-McMoRan and partners. Russia's Polar Division (450 kt), owned by Norilsk Nickel, is a key supplier of copper and nickel. In Africa, the Kamoa-Kakula mine in the Democratic Republic of Congo (420 kt), owned by Ivanhoe Mines, Zijin Mining, and the DRC government, is rapidly expanding.
Other notable mines include Chile’s El Teniente (402 kt), Chuquicamata, and Los Pelambres, Peru’s Las Bambas and Toromocho, and Zambia’s Kansanshi. Central America’s Cobre Panama and the U.S.’s Bingham Canyon are also critical contributors.
Together, these mines represent the global copper mining industry's top annual production capacities, vital for supporting the increasing demand for copper in construction, electronics, and renewable energy technologies. Latin America, led by Chile, remains the dominant force in the sector.
Source: The World Copper Factbook 2024
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