Future Copper Production From New Projects 2023-2029

February 26, 2024

Total copper production from over 30 projects totals over 5 million tonnes between 2023 and 2029*. Total production declines year-over-year from 2023 through 2026 from over 1 million tonnes to only about 200,000 tonnes.

Production increases rapidly over the next two years peaking at almost 1.5 million tonnes in 2028 before retreating to just over 600,000 tonnes in 2029.

The key regions with publicly available projects include:
Argentina – Mara – 200 000 tonnes – 2023
Chile – Santo Domingo – 200 000 tonnes – 2023
Iran – Nicico (Total Projects) – 750 000 tonnes – 2028
Russia – Udokan S2 – 450 000 tonnes– 2028
Mexico – El Arco – 190 000 tonnes – 2028
*includes over 30 copper projects worldwide where projected start dates and average annual copper production are publicly available
Note: Based on information obtained from open data sources