Copper the next Gold? List of the top 7 copper-producing countries in the world
Copper has superior electrical and thermal conductivity, durability, and antimicrobial properties. This metal is used in fighter jets, the production of motors, turbines, and renewable energy sources like solar and wind power. Let's have a look at the world's top 7 copper producers.
7. Russia
The copper production in Russia rose to 930,000 metric tons in 2024, up from 890,000 MT in 2023. The increase was largely driven by Phase 1 production at Udokan Copper’s Udokan mine in Siberia. Despite minor fires in late 2023, operations remained unaffected. The output of copper production in Russia is expected to rise to 450,000 MT once Phase 2 begins in 2028, according to a report by the US Geological Survey.
6. US
The United States produced 1.1 million metric tons of copper in 2024, a slight drop from 2023 and a sharper decline from 2022’s 1.23 million MT. Arizona contributes about 70 per cent of the country’s copper output, with other key states including Michigan, Missouri, Montana, Nevada, and New Mexico. Seventeen mines account for 99 per cent of U.S. production, led by Freeport McMoRan’s Morenci mine, which produced 700 million pounds in 2024.
5. Indonesia
Indonesia produced 1.1 million metric tons of copper in 2024, passing the United States and Russia to become the fifth-highest copper producer in the world. The copper production of Indonesia has increased significantly in recent years, and is up from 907,000 MT in 2023 and 731,000 MT in 2021. According to MDO data the Freeport McMoRan's Grasberg complex is the largest copper mine in the country, which has produced 1.66 billion pounds of copper in 2023.
4. China
China produced 1.8 million metric tons of copper in 2024, which is slightly down from 1.82 million in 2023, continuing a gradual decline since 2021’s peak of 1.91 million tons. Despite this, China dominated refined copper output with 12 million metric tons, over 44 per cent of global production and six times Chile’s output. The country also holds the largest copper reserves at 190 million MT. Zijin Mining Group’s Qulong mine in Tibet, now China’s largest, boosted production from 340 million pounds in 2023 to an estimated 366 million in 2024.
3. Peru
In 2024, Peru’s copper production stood at 2.6 million metric tons, a decrease of 160,000 MT from 2023, according to USGS data. The decline was partly attributed to a 3.7 per cent drop in output from Freeport McMoRan’s Cerro Verde mine, the country’s largest copper producer. MDO reported that Cerro Verde generated 1.94 million metric tons of copper concentrate in 2023. In its Q1 2024 report, Freeport McMoRan cited reduced stockpiled leach ore volumes and lower milling rates due to maintenance as reasons for the decline in its South American operations.
2. Democratic Republic of Congo
The Democratic Republic of Congo (DRC) secured the second spot globally after it produced 3.3 million metric tons of copper in 2024, which accounts for over 11 per cent of global copper output. In recent years, the DRC has increased its copper production rapidly, and its 2024 output sees a significant rise from the 2.93 million metric tons of copper produced the previous year.
1. Chile
With 5.3 million metric tons of copper production in 2024, Chile holds the top spot in global copper production. It accounts for 23 per cent of the total global copper output, making it the world’s largest copper-producing country. Chile is also home to BHP’s Escondida, the largest copper mine in the world, with an annual output in the 2 million metric ton range, which owns a 57.5 per cent stake in the operation, with Rio Tinto.
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