Global Copper Production: Top 10 Countries in 2024

In 2024, the copper market experienced significant volatility due to aging mines, growing electrification demand, and global economic factors. Despite these challenges, global copper production reached 23 million metric tons according to the US Geological Survey. This article examines the top 10 copper-producing countries in 2024, providing insights into their output and key mining operations.

1. Chile

Copper production: 5.3 million metric tons

Chile maintained its position as the world's largest copper producer, accounting for about 23% of global output. Key players in Chile's copper industry include:

• Codelco (state-owned)
• Anglo American
• Glencore
• Antofagasta
• BHP's Escondida mine (largest copper mine globally)

BHP reported its share of Escondida's 2024 production at 1.13 million MT. Chile's copper output is projected to reach 6 million MT in 2025 as new mines increase production.

2. Democratic Republic of Congo (DRC)

Copper production: 3.3 million metric tons

The DRC significantly increased its copper production in 2024, representing over 11% of global output. A major contributor to this growth was Ivanhoe Mines' Kamoa-Kakula project, which produced 437,061 MT of copper in 2024. The project expects further increases in 2025, with guidance set between 520,000 and 580,000 MT.

3. Peru

Copper production: 2.6 million metric tons

Peru's copper output declined by 160,000 MT from 2023. Factors impacting production included:

• 3.7% drop at Freeport McMoRan's Cerro Verde mine
• Maintenance-related lower milling rates at some operations

Other significant mines in Peru include Anglo American's Quellaveco and Southern Copper's Tia Maria. China and Japan are the primary export destinations for Peruvian copper.

4. China

Copper production: 1.8 million metric tons

While China's copper mine production slightly decreased in 2024, it remains the world's largest refined copper producer at 12 million metric tons, representing 44% of global refined output. China also holds the world's highest copper reserves at 190 million MT.

Zijin Mining Group's Qulong mine in Tibet has become China's largest copper mine, with an estimated 2024 production of 366 million pounds.

5. Indonesia

Copper production: 1.1 million metric tons

Indonesia's copper production has steadily increased in recent years, surpassing both the United States and Russia in 2024. Key operations include:

• Freeport McMoRan's Grasberg complex (largest in the country)
• PT Amman Mineral's Batu Hijau mine (expected significant increase in 2024)

Indonesia also commissioned a new smelting facility in 2024, capable of processing 900,000 MT of copper concentrate annually.

6. United States

Copper production: 1.1 million metric tons

The United States experienced a decline in copper production compared to previous years. Key aspects of US copper production include:

• Arizona accounts for 70% of domestic supply
• 17 mines are responsible for 99% of US copper production
• Freeport McMoRan's Morenci mine is the largest in the country

7. Russia

Copper production: 930,000 metric tons

Russia increased its copper output in 2024, partly due to the ramp-up of Udokan Copper's Udokan mine in Siberia. The mine is expected to produce up to 135,000 MT in 2024, with plans to expand to 450,000 MT by 2028.

8. Australia

Copper production: 800,000 metric tons

Australia's copper production slightly increased in 2024. Notable operations include:

• BHP's Olympic Dam mine (reached a 10-year high in 2024)
• Glencore's Mount Isa complex (scheduled to close in late 2025)

Australia is tied with Peru for the second-highest copper reserves globally at 100 million MT.

9. Kazakhstan

Copper production: 740,000 metric tons

Kazakhstan entered the top 10 list in 2024, with plans to increase mineral production by 40% by 2029. KAZ Minerals' Aktogay mine is a significant producer, though it experienced a production decline in 2024.

10. Mexico

Copper production: 700,000 metric tons

Mexico rounded out the top 10 list with a slight increase in production. Major operations include:

• Grupo Mexico's Buenavista del Cobre mine (largest in the country)
• Grupo Mexico's La Caridad mine (second-largest)

These top 10 copper-producing countries play a crucial role in meeting global demand for this essential metal. As the copper market continues to evolve, investors and industry observers should monitor developments in these key regions for potential opportunities and challenges in the sector.