February 26, 2024
Russia is the top producer of copper worldwide with forecasted production of almost 1,000,000 tonnes between 2023 and 2029. Peru is next largest with forecasted production of 835,000 tonnes, closely followed by Iran at 750,000 tonnes. Chile and the US round out the top 5 copper producers with over 450,000 and 250,000 each, respectively. The stability of copper-producing nations plays a pivotal role in ensuring a consistent global copper supply, given its vital applications in diverse industries. Regions like Peru, Chile and the US, with proven records of political stability, continue to be reliable sources for copper production. Conversely, many regions face political unrest hindering a dependable supply of copper. These regions include Russia, Iran, Afghanistan, Congo, Ecuador, Mexico, and of course, Russia following their invasion of the Ukraine. So, while some regions offer stable platforms for sustained copper production, many others face obstacles that could impede their ability to help meet global demands.
Note: Based on information obtained from open data sources