Copper is a metal essential to construction, manufacturing industrial machinery and to the green energy transition — and demand is increasing worldwide.
The copper price broke an all-time record intraday high above US$11,000 per tonne this year on the back of historically low global inventories.
Our sister company Mining Intelligence has compiled a list of the world’s top 10 biggest copper mines based on 2021 figures, where production will play a part in setting prices for years to come.
1. Escondida
Majority owned by one of the world’s biggest copper miners, BHP (NYSE: BHP; LSE: BHP; ASX: BHP), and operating in the world’s biggest copper-producing country, Chile’s Escondida remains by far the top producer in the world, again surpassing 1 million tonnes of ore grading 0.59% copper in 2021.
2. Collahuasi
Collahuasi, also in Chile and jointly owned by Anglo American (LSE: AAL; US-OTC: AAUKF) and Glencore (LSE: GLEN), is in second place, with 630,000 tonnes of ore grading 0.81% copper produced in 2021.
3. Grasberg
Indonesia’s Grasberg operations, owned by Inalum, came in third, churning out 606,000 tonnes grading 1.07% copper during the year.
4. El Teniente
Back in Chile, state-owned Codelco’s El Teniente produced 459,800 tonnes grading 0.83% copper in 2021.
5. Antamina
A joint venture between BHP and Glencore, Peru’s Antamina mine is in fifth place, producing 429,600 tonnes grading 0.91% copper.
6. Buenavista
In Mexico, Southern Copper‘s (NYSE: SCCO) Buenavista mine churned out in 2021 422,800 tonnes grading 0.32% copper.
7. Cerro Verde
Cerro Verde in Peru, owned by Freeport-McMoRan (NYSE: FCX), is in seventh place, producing 402,300 tonnes in 2021, grading 0.36% copper.
8. Morenci
Freeport-McMoRan’s majority-owned Morenci mine in Arizona is the biggest copper mine in the United States, and No. 8 in the world, churning out 397,300 tonnes grading 0.29% copper.
9. KGHM Polska Miedz
Poland’s national KGHM Polska Miedz Mines are in ninth place, producing 391,200 tonnes during 2021.
10. Cobre Panama
Rounding out the list is First Quantum Minerals‘ (TSX: FM) Cobre Panama mine in Panama, which produced 331,000 tonnes grading 0.37% copper for the year.
Download the Mining Intelligence data here.