Global Copper Mine Production
February 26, 2024
Global copper production increased over 25% between 2010 and 2019 from 16 million tonnes to just over 20 million tonnes. Production remained relatively flat in 20 million tonnes range from 2016 through 2021 before increasing to almost 22 million tonnes in 2022, up 4% from the previous year.
Copper Price
February 26, 2024
Annual copper prices have exhibited varying trends between 2010 to 2023. Prices generally trended downward from 2011 through 2016 going from over USD $8,000/tonne to just under USD $5,000/tonne. Copper hit a low of just USD $4860 in early 2016.
Copper Content By Treatment Phase
February 26, 2024
Geologists search for indicators of mineral deposits, paving the way for mining under favorable geological, economic, environmental, and legal conditions.
Copper Production Forecast By Country 2023-2029
February 26, 2024
Russia is the top producer of copper worldwide with forecasted production of almost 1,000,000 tonnes between 2023 and 2029.
Future Copper Production – Known Projects 2023-2029
February 26, 2024
There are currently over 30 copper projects worldwide where projected start dates and average annual copper production are known. Many others are in various stages of development as demand drives leading producers to invest in new projects.
Future Copper Production From Known Projects 2023-2029
February 26, 2024
Total copper production from over 30 know projects totals over 5 million tonnes between 2023 and 2029.
Global Copper Production Forecast 2022-2030
February 26, 2024
The copper production forecast is based on future projects and grows from about 26 million tonnes in 2022 to over 30 million tonnes in 2030.
Refined Copper Usage By Sector
February 26, 2024
Copper is used in a variety of industries such as manufacturing, construction and transportation.
Global Refined Copper Production
February 26, 2024
World refined production of copper, by region, increased 6% from 24.5 million tonnes in 2019 to 26 million tonnes in 2022. Total growth from regions with increasing production, like China, Congo, Zambia, and Canada were partially offset by declines in many other regions.
Global Proven Copper Reserves
February 26, 2024
Total global resources of copper are estimated to be about 2.1 billion tonnes. Of this total resource, less than half are proven reserves (890 million tonnes).