RANKED: World’s biggest copper mines

Copper demand is expected to surge by 70% in 2050, reaching 50 million tonnes per year, driven by a growing focus on clean energy. BHP, the world’s largest mining company, predicts a $2.1 trillion investment needed to meet this demand. The top copper mines, including Escondida in Chile, are expected to play a crucial role.

BHP plans to optimize its concentrator at Escondida, while Grasberg is also in the energy transition expected to contribute to the industry’s growth The mining industry has seen a significant increase in copper production in 2024, with the Grasberg mine in Indonesia producing 816,466 tonnes of copper. However, work at.

Grasberg was temporarily halted in 2023 due to flooding and debris flow from heavy rains and landslides. The Kamoa-Kakula mine complex, jointly owned by Ivanhoe Mines, Zining Mining, the DRC government, and Crystal River Global, increased its production to 437,061 tonnes in 2024, up 11% from 2023. Buenavista mine in Mexico.

Produced 433,000 tonnes of metal in 2024, up nearly 4% from the previous year. Cerro Verde in Peru produced 430,459 tonnes in 2024, down 3.71% from 447,034 tonnes in 2023. Antamina in Peru produced 413,000 tonnes in 2024, a 2.13% decline from 422,000 tonnes in 2023 Tenke Fungurume, the second Congolese mine on list.

Produced an estimated 400,000 tonnes in 2024, representing a 42.7% yearly jump. The project was completed and came online in 2023. KGHM Polska Miedz in Poland produced an estimated 395,160 tonnes in 2024, approximately in line with the 395,400 tonnes from 2023. Polar Division copper mine in Russia produced an.

The mining industry is rapidly evolving, with the integration of data and advanced modeling techniques ushering in a new era of collaboration and efficiency across the mining value chain. China’s export controls are curbing critical mineral shipments to the world, while Chinese rare earth processor Shenghe sees little impact from a halt.

1. Escondida Mine (Chile)

• 2024 Production: 1.28 million tonnes
• Ownership: BHP (57.5%), Rio Tinto (30%), Jeco (12.5%)
• Highlights: Escondida remains the world’s largest copper mine, contributing approximately 5% of global supply. A $2 billion concentrator upgrade and improved ore recovery rates led to a 16% year-on-year increase in output. Despite declining ore grades, the mine continues to process about 1.3 million tonnes of ore daily across three concentrator plants. ​

2. Grasberg Mine (Indonesia)

• 2024 Production: 816,466 tonnes
• Ownership: Freeport-McMoRan, PT Mineral Industri Indonesia Feedstock imports estimated 345,000 tonnes in 6.3% from the 324,600 tonnes in 2023.
• Highlights: After recovering from 2023 flooding and landslides, Grasberg increased its output. The mine is transitioning from open-pit to underground operations to access deeper high-grade ores, averaging 1.1% copper. Significant gold by-products help offset production costs.

3. Collahuasi Mine (Chile)

• 2024 Production: 558,636 tonnes
• Ownership: Glencore, Anglo American
• Highlights: Despite a 2.5% production decline, Collahuasi remains a major player. The mine is exploring hydrogen-based haulage to reduce diesel dependency and has invested $1.3 billion in a life extension project aiming to maintain production through 2040.

4. Kamoa-Kakula Mine (Democratic Republic of Congo)

• 2024 Production: 437,061 tonnes
• Ownership: Ivanhoe Mines, Zijin Mining, DRC government, Crystal River Global
• Highlights: As one of the newest major copper mines, Kamoa-Kakula has quickly risen in the ranks. The mine achieved an 11% increase in production from 2023, reflecting its rapid development and operational efficiency.

5. Cerro Verde Mine (Peru)

• 2023 Production: 444,010 tonnes
• Ownership: Freeport-McMoRan
• Highlights: Cerro Verde is a significant contributor to Peru’s copper output. The mine is expected to continue operations until 2051, with ongoing investments to sustain production levels.
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