Copper
Projects
Major Copper Projects Worldwide
The development pipeline for Copper projects spans exploration through production across multiple jurisdictions. We track 5 key projects that will shape the future supply landscape for this base metal.
Current Production
22 million
tonnes
Top Producer
Chile
24% share
Projects Tracked
5
Reserves
1 billion tonnes
Copper Project Pipeline
The following projects represent the most significant Copper operations and development-stage assets worldwide:
Escondida
BHP (57.5%), Rio Tinto, JECO
Worlds largest copper mine by output, located in the Atacama Desert; open-pit sulfide and SX-EW oxide processing
Oyu Tolgoi Underground
Rio Tinto/Turquoise Hill/Mongolia
One of the largest copper-gold deposits globally; underground block cave began producing in 2023 after cost overruns and delays
Resolution Copper
Rio Tinto/BHP
Massive deep underground deposit in Arizona; faces Native American sacred site opposition and permitting challenges
Kamoa-Kakula
Ivanhoe Mines/Zijin/Government of DRC
One of the highest-grade major copper discoveries in decades; Phase 1-3 development rapidly expanding output
QB2 (Quebrada Blanca Phase 2)
Teck Resources
Major copper expansion in northern Chile; achieved first production in 2023 after significant cost overruns
Government Support and Strategic Initiatives
Recognizing the strategic importance of Copper, governments in major consuming nations have launched programs to support project development. These include direct financing, loan guarantees, streamlined permitting, and bilateral resource partnerships. As a USGS-listed critical mineral, Copper projects are eligible for various U.S. government support mechanisms including the Defense Production Act Title III program. EU Critical Raw Materials Act provisions enable fast-track permitting and financing support for Copper projects within the EU and partner nations.
Key Industry Developments
Recent developments affecting the Copper project landscape:
Copper hit all-time nominal high of $10,190/tonne driven by Chinese infrastructure demand and post-GFC stimulus
COVID-19 briefly crashed copper to $4,371/tonne before a historic rally to new records as green transition narrative took hold
Copper reached $10,730/tonne on supply fears and energy transition demand expectations
Panamas Supreme Court ruled Cobre Panama mine (First Quantum) unconstitutional, shutting one of the worlds newest large copper mines
Copper surged above $11,000/tonne; BHP made a $50B bid for Anglo American driven largely by copper asset value; supply deficit projections intensified
Major miners warned of impending structural copper deficit of 5-10 million tonnes by 2035 as mine supply growth stalls against electrification demand
More on Copper
Explore other aspects of the Copper value chain.
Uses & Applications
Explore uses & applications for Copper.
Supply Chain
Explore supply chain for Copper.
Mining & Processing
Explore mining & processing for Copper.
Refining & Grade Specs
Explore refining & grade specs for Copper.
Recycling
Explore recycling for Copper.
Substitutes
Explore substitutes for Copper.
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