Copper was the first metal worked by humans and remains one of the most important metals. Used in mobile phones, laptops, homes, and cars, it is the third most used metal in the world. According to the USGS, the average U.S. citizen requires 12 pounds of copper per year to support their living expenses. Furthermore, this need is expected to continue to increase in the coming years.
Check out his five largest copper producing countries in the world.
5. United States
Copper production in 2023: 1.1 million tons
According to the U.S. Geological Survey, Arizona accounts for 71% of the nation’s copper production. The United States is the world’s leading copper producer and one of the top 10 copper exporters. Infrastructure-related copper demand is expected to rise to 4 million kilograms by 2030, according to research from the Atlantic Council. This comes as President Biden has set a goal of building 500,000 new electric vehicle charging stations.
4. China
Copper production in 2023: 1.7 million tons
China is one of the world’s largest copper consumers, ranking fourth in the world with a share of approximately 9% of global copper production It has been.
China’s copper production increased at an annual growth rate of 1.10% from 2020 to 2023. However, due to large domestic construction projects, China is dependent on copper imports from other countries. However, it is worth noting that China is the clear winner when it comes to producing refined copper.
3. Democratic Republic of the Congo
Copper production in 2023: 1.7 million tonnes
DCR holds the title of having the highest quality copper reserves in the world. The global average grade is around 0.6 to 0.8 percent, but DCR mines are said to have a grade of over 3 percent, according to the International Trade Bureau. This, along with low-cost mining, is one of the main reasons why international mining companies are increasing their interest in the country’s southern copper belt.
2. Peru
Copper production in 2023: 2.6 million tons
Peru is the second largest copper producer in terms of production and ranks third in terms of copper reserves with 77 million tons . As stated in Business Wire. According to Mining Technology, Peru produces 11% of the world’s total copper production.
1. Chile
Copper production in 2023: 5 million tons
Chile is currently the world’s largest copper producer with approximately 200 million tons of copper reserves. The country is also home to the world’s three largest mines, Escondida, Collahuasi, and El Teniente, which will produce 882.1,000 tons, 563.39, and 397.32 thousand tons of copper in 2023. Chile produces 24% of the world’s copper, according to the U.S. Geological Survey (USGS), and production is expected to reach a record 6 million tons by 2025, according to S&P Global.