Production of Copper in Democratic Republic of Congo reached 1,587Thousand Tonnes in 2020
Production grew by a CAGR of 13% between 2017 to 2020,and is expected to grow by...
GlobalData projects the production to grow at a CAGR of...
Impact of COVID-19 on copper production?
The COVID-19 pandemic had a significant impact on global copper mining in 2020. The pandemic led to the temporary closure of mines and lockdown measures across the major producing countries, with production in Chile and Peru, the world’s two largest copper-producing nations.
During the period 2021–2024, global copper production is expected to grow. The key contributors to this growth are expected to be Chile, Peru, Australia, Indonesia, and the US. The combined production from these countries is expected to grow in 2024. Upcoming projects are expected to increase copper production capacity during the forecast period.
Copper production
Global copper production is estimated to have fallen by a significant share in 2020, against the growth reported in 2019. The fall in production was due to the impact of COVID-19, which has led to the temporary closure of mines and more limited operations in many countries, in particular Peru. The major producing countries are Chile, Peru, Australia, and the US, which are the major contributors to the global production in 2020. Chile is the world’s largest copper-producing nation in 2020. The country was amongst the worst affected nations from COVID-19 in South America.
Major copper producers
BHP, Codelco, Freeport-McMoRan Inc., Glencore Plc, Grupo Mexico, Antofagasta Plc and Anglo-American Plc are the world’s top copper producing companies.
BHP is one of the leading mineral resource companies in the world. It discovers, acquires, develops and markets various commodities, including iron ore, coal, nickel, copper, lead, silver, molybdenum, uranium, zinc and gold. The company’s mining operations include copper mines in Australia and Chile. BHP is headquartered in Melbourne, Australia. The company has four major copper mines including the Olympic Dam mine in Australia and Spence mine in Chile.
Corporacion Nacional del Cobre de Chile (Codelco)
Corporacion Nacional del Cobre de Chile (Codelco) is a mining company which is involved in the exploration, development, extraction and processing of mineral resources. The company produces refined copper in the form of cathodes, copper concentrates, blister and anode copper, as well as by-products such as molybdenum, silver, copper calcine, anode slime, sulfuric acid, copper cathodes and wire rods.
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