Future Copper Production Capacity 2023-2029

February 26, 2024

There are currently over 30 copper projects worldwide where projected start dates and average annual copper production are publicly available. Many others are in various stages of development as demand drives leading producers to invest in new projects.

The largest projects include:
Iran – Nicico (Total Projects) – 750,000 tonnes (2028)
Russia – Udokan S2 – 450,000 tonnes (2028)
Afghanistan – Aynak – 260,000 tonnes (2027)
Zambia – Kanshansi S3 – 250,000 tonnes (2025)
Peru – Michiquillay – 225,000 tonnes (2029)
Argentina – Mara – 200,000 tonnes (2023)
Chile – Santo Domingo – 200,000 tonnes (2023)

The ongoing growth of the electric vehicle industry will be a key factor for the copper market.
Note: Based on information obtained from open data sources