United States of America (USA) Copper Mining Market by Reserves and Production, Assets and Projects, Fiscal Regime including Taxes and Royalties, Key Players and Forecast, 2022-2026

Pages: 47 Published: May 13, 2022 Report Code: GDMMBMC041MR

The US copper mining production was 1,230 thousand tonnes (kt) in 2021. The market is expected to grow at a CAGR of more than 7% during the forecast period. The sector’s output is mainly supported by a strong performance from the country’s major producers like Freeport-McMoRan Inc and Rio Tinto.

According to the US Geological Survey (USGS), the country has the world’s sixth-largest copper reserves. The Bagdad, Morenci, Sierrita, and Lone Star copper mines are some of the largest mines in the country in terms of metal reserves.

US Copper Mining Market Overview

US Copper Mining Market Overview

To gain more insights on the US copper mining market forecast, download a free report sample

What are the market dynamics in the US copper mining market?

The US is the world’s second-largest copper-consuming country, after China. In 2021, the country’s copper consumption growth was primarily supported by the country’s construction industry from where the largest share of copper demand comes.

The US federal and state bodies have separate roles and responsibilities for resource exploration and development. Mineral resources, for example, are owned by the state or federal governments, rather than private individuals. The Department of the Interior; Office of Surface Mining Reclamation and Enforcement; Mine Safety and Health Administration; and the Environmental Protection Agency are the main governing bodies. Mining Law 1972, and the Surface Mining Reclamation and Enforcement Act (SMRCA) are the apex laws.

Which are the key active mines in the US copper mining market?

Some of the key active mines in the US copper mining market are Morenci Mine, Kennecott Copper Project, Bagdad Mine, Sierrita Mine, Safford Mine, Mission Mine, Pinto Valley Mine, Robinson Mine, Chino Mine, Ray Mine, Tyrone Mine, Silver Bell Mine, Eagle Mine, Lisbon Valley Project, and Miami Mine.

Which are the major copper producers in the US copper mining market?

The major copper producers in the US copper mining market are Freeport-McMoRan Inc, Rio Tinto, and Grupo Mexico SAB de CV.

Freeport-McMoRan Inc

Freeport-McMoRan Inc (FCX) is a metals and mining company that carries out the production of gold, copper, cobalt, silver, molybdenum, and oil and natural gas. Its portfolio of products includes specialty copper, continuous cast copper rods, copper cathodes, copper concentrates, copper electrode, bare wires, and other refined copper products. The company operates mines in North America, South America, and Indonesia.

Rio Tinto

Rio Tinto is an international metals and mining company that carries out the mining, exploration, and processing of various mineral resources. It supplies a range of minerals and metals, including aluminum, diamonds, uranium, copper, gold, and iron ore. Rio Tinto also supplies industrial minerals such as borax, titanium dioxide, and salt. The company operates port and rail facilities, smelters, refineries, processing plants, and shipping, commercial, and research facilities.

Grupo Mexico SAB de CV

Grupo Mexico SAB de CV (Grupo Mexico) is a holding company. It carries out the mining, multimodal freight railroad service, and infrastructure development. It also carries out the exploration and processing of metallic and non-metallic minerals such as copper, zinc, lead, gold, silver, and molybdenum. The company also provides services such as construction, engineering, procurement, project management, integral project engineering activities, and infrastructure construction.

Market Report Scope

Market size (2021) 1,230 kt
CAGR >7%
Forecast period 2022-2026
Key active mines Morenci Mine, Kennecott Copper Project, Bagdad Mine, Sierrita Mine, Safford Mine, Mission Mine, Pinto Valley Mine, Robinson Mine, Chino Mine, Ray Mine, Tyrone Mine, Silver Bell Mine, Eagle Mine, Lisbon Valley Project, and Miami Mine
Major copper producers Freeport-McMoRan Inc, Rio Tinto, and Grupo Mexico SAB de CV

Scope

  • The report contains an overview of the US copper mining industry including key demand driving factors affecting the US copper mining industry. It provides detailed information on reserves, reserves by country, production, competitive landscape, major operating mines, and major exploration, and development projects.

Reasons to Buy

  • A comprehensive evaluation of the impact of COVID-19 on the US copper industry
  • To gain an understanding of the US’ copper mining industry, relevant driving factors
  • To understand historical and forecast trends in US copper production
  • To identify key players in the US’ copper mining industry
  • To identify major active, exploration and development projects in the US

Key Players

Peabody Energy, Arch Resources Inc., Alliance Resource Partners LP, NACCO Industries Inc., CONSOL Energy

Table of Contents

| About GlobalData

1 Executive Summary

2 Reserves, Production and Prices

2.1 Copper Reserves by Country

2.2 Copper Production

2.3 Copper Prices

3 Copper Assets

3.1 Active Mines

3.2 Development Projects

3.3 Exploration Projects

4 Key Demand Drivers

4.1 Copper Consumption

4.2 Demand from the Construction Industry

4.3 Demand from the Electric Vehicle Market

5 Major Copper Producers

5.1 Freeport-McMoRan Inc

5.2 Rio Tinto

5.3 Grupo Mexico SAB de CV

6 Fiscal Regime

6.1 Federal Governing Bodies

6.2 State Governing Bodies

6.3 Laws and Regulations

– Federal Laws

– State Laws

6.4 Licenses and Leases

– Coal Mining Lease

– Exploratory License

– Federal Permits

– State Permits

6.5 Rights and Obligations

– Rights

– Obligations

6.6 Taxes and Royalties

– Federal Reclamation Fee

– Royalty

– Mining Claim Fees

– State Fees

– Corporate Tax Rates

– Real Property Tax

7 Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Coverage

7.4 Secondary Research

7.5 Development Likelihood

| Contact Us

List of Tables

Table 1: Copper reserves by country (million tonnes), January 2022

Table 2: US copper production (thousand tonnes), 2006–2026

Table 3: Copper prices quarterly ($/tonnes), 2015–2022

Table 4: Active mines, 2022

Table 5: Development projects, 2022

Table 6: Exploration projects, 2022

Table 7: US copper consumption (thousand tonnes), 2006–2026

Table 8: Freeport-McMoRan, major projects, 2022

Table 9: Rio Tinto major projects, 2022

Table 10: Grupo Mexico major projects, 2022

Table 11: National Level Mining Governing Bodies and Agencies, 2022

Table 12: State Level Mining Governing Bodies and Agencies, 2022

Table 13: Anthracite coal mining application fees, 2022

Table 14: Bituminous coal surface mining application fees, 2022

Table 15: Bituminous coal underground mining application fees, 2022

Table 16: Non-coal mining application fees, 2022

Table 17: Excise tax rates, 2022

Table 18: Coal Royalty Rates (%), 2022

Table 19: Mining Claim fees (New Claims), Before September 1, 2019

Table 20: Mining Claim fees (New Claims), On or After September 1, 2019

Table 21: Mining Claim Fees (Existing Claims), 2022

Table 22: Processing Fees to Apply for Waiver in Maintenance Fees for Existing Claims, 2022

Table 23: Processing Fees for Transfer of Interest/Amended Notice of Location, 2022

Table 24: Disposition of Occupation Tax Revenue, 2022

Table 25: Tennessee Mining Fees ($), 2022

Table 26: Alaska Mining License Tax on Net Income (%), 2022

Table 27: West Virginia Coal Severance Tax Rate (%), 2022

Table 28: Montana Coal Severance Tax Rate (%), 2022

Table 29: Nevada, Net Proceeds Tax Rates (%), 2022

Table 30: State Corporate Tax Rates (%), as of January 2022

List of Figures

Figure 1: Share of copper reserves by country (%), as of January 2022

Figure 2: US copper production (thousand tonnes) vs. number of operating mines, 2006–2026

Figure 3: Copper prices, quarterly ($/tonne), 2015–2022

Figure 4: Historical and forecast US copper consumption (thousand tonnes), 2006-2026

Figure 5: Global vs. US construction output value ($ billion), 2016–2026

Figure 6: EVs production (thousand units), 2016–2036

Frequently Asked Questions

Request a Free Sample
$1495

Can be used by individual purchaser only

$2990

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

GDPR + CCPA Compliant

Personal and transaction information are kept safe from unauthorised use.

Recently Viewed Reports

Looking to stay on top of industry & market trends?

Sign up to receive regular alerts for our latest analysis and reports. No matter your industry focus, you can keep your finger on the pulse with our timely updates.