Global Copper Market Trends – Mining Technology

Copper is the most used industrial metal after iron and aluminium, with electrical applications accounting for approximately three quarters of total copper use.
Mining Technology keeps track of the global copper market by observing copper price trends and analysing country-wise copper production, consumption and export and import data. We also closely watch the performance of copper mining companies and major copper mines around the world.
The global copper production is forecast to reach 25 million tonnes (Mt) in 2025, according to GlobalData.
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GlobalData forecasts data for 15 commodities of 60 leading mining countries, with 70 reports per year covering supply & demand, key projects, activities of major mining companies and fiscal regimes.

Mining Technology displays the global copper price trend over the last 12 months.
Copper prices rose steeply over the first half of 2021, but have fluctuated since then due to declining demand in China, with the country’s power supply crisis leading to factories being closed, thereby impacting demand, with surpluses expected.
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Mining Technology has identified the world’s top copper producing companies by comparing the annual output of hundreds of copper mining companies operating in different parts of the globe.
Corporacion Nacional del Cobre de Chile was the world’s biggest copper miner in 2020, followed by Freeport-McMoRan and Glencore.
The world’s ten biggest copper producing companies together accounted for 48% of the global total copper output in 2020.
Source: GlobalData

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Mining Technology ranks the leading copper producing countries from our comprehensive database covering major copper mining countries in the world.
The world’s biggest copper mining countries in 2020 included Chile, Peru and China.
The top ten copper producing countries together accounted for 79% of the global copper output in 2020.

Mining Technology keeps a close watch on the production of major copper mining projects to identify the world’s biggest copper mines.
With an output of 1.12Mtpa, Escondida Mine in Chile ranked as the world’s biggest copper mine in 2020.
The world’s ten biggest copper mining operations together accounted for 27% of the global copper production in 2020.
Source: GlobalData

Mining Technology lists the major upcoming copper mines in the world by comparing annual production capacities of upcoming copper mining projects.
Oyu Tolgoi Underground Project in Mongolia is the biggest upcoming copper mine in the world, with an annual production capacity of 0.56Mt.
La Granja Project in Peru and Quetena Project in Chile are the next major upcoming copper mines with a capacity of 0.5Mt and 0.47Mt, respectively.
Source: GlobalData