Electric vehicles, wind turbines, and solar panels are a few examples of sustainable energy applications that require copper and the increasing use of green energy technologies as well as other sectors and industries are also driving demand for this metal.
Although copper is found in large quantities in nature, it can be challenging to extract it sufficiently quickly to satisfy demand. A copper mine’s journey from discovery to production takes a long time — on average, more than 16 years.
In the meantime, the growing implementation of carbon-free technologies is putting pressure on copper production. Where does copper mainly come from? Let’s discover which are the Top-10 largest copper-producing countries in the world.
The largest copper producers in 2023
The most recent statistics from the U.S. Geological Survey indicate that in 2023, the world’s copper production hit 22 million metric tons (MMT).
While Chile was by far the world’s leading producer of copper, you might be surprised by some of the other nations that reached the top 10 list in 2023.
Major countries in copper mine production worldwide in 2023 (thousand metric tons)
Source: Statista
Analyzing copper output in three major producing countries
1️⃣ Chile
Copper mining volume: 5 MMT (23% of global production)
Chile is home to some of the biggest copper mining companies in the world, including state-owned Codelco, BHP, and Anglo-American.
The production of copper in the country registered a slight decline in the 2022-2023 period. The major causes of this include harsh mining conditions, scarcity of water, and delays in large investment initiatives.
However, S&P Global predicts that due to the opening of new mines and the growing capacity of current mines, the nation’s copper production will get back on track and even hit record highs in 2025, reaching 6 MMT.
Chile’s largest copper mine is the Escondida Mine
This surface mine in Antofagasta is owned by BHP Group. In 2023 the mine’s output was 882,100 tons. The mine is scheduled to cease operations in 2078.
2️⃣ Peru
Copper mining volume: 2.6 MMT (12% of global production)
Peru’s copper output increased by 150,000 MT compared to 2022, hitting 2.6 MMT in 2023. Although anti-government demonstrations and roadblocks reduced output early in the year, the country’s copper mining operations managed to return to normal. China is the biggest export market for Peru’s copper, followed by Japan and South Korea.
Peru’s largest copper mine is the Cerro Verde Mine
This surface mine in Arequipa is owned by Freeport-McMoRan. In 2023 the mine’s output was estimated to be 444,010 tons. The mine is scheduled to cease operations in 2051.
3️⃣ Democratic Republic of Congo
Copper mining volume: 2.5 MMT (11% of global production)
The country increased its copper production by 150,00 MT to reach 2.5 MMT in 2023. Just like Peru, DR Congo faced a decline in production due to political and regulatory uncertainty. However, over the past few years, the country has been able to increase copper output.
In addition, several new mining projects are expected to be launched, with the government hoping to the country will overtake Peru on the list of the biggest copper producers.
DR Congo’s largest copper mine is the Kamoa-Kakula Copper Complex
Located in Lualaba and owned by Ivanhoe Mines, this mine registered an output of 393,551 tons.
10 largest copper mines by production capacity (2023)
GlobalData reports that there are currently over 709 active copper mines worldwide. Here are the 10 largest:
What makes Chile the leading copper producer?
Chile’s vast copper reserves have led to the country becoming a global mining superpower. The country has abundant reserves of copper thanks to its unique geological landscape.
Chile is renowned for having a highly developed mining industry and for implementing legislation that encourages foreign direct investment. For many years, this part of the world has seen substantial exploration and production. Investment initiatives worth US$24.6 billion are being executed for the years 2022–2026.
How does copper production impact the economies of producing countries?
Copper production has a substantial economic influence on nations that mine it by providing significant revenue through exports, increasing GDP, and creating job opportunities.
In addition to providing US$144 billion in added value to the world economy, the copper industry supports over a million employees.
The International Copper Association predicts that by 2040 copper demand will reach 40.9 million metric tons and this expansion of the mining industry has the potential to accelerate technological breakthroughs and skill development.
Final word
Copper is used practically everywhere in factories and houses, in electronics, and in power production, and in recent years, demand has shown a significant increase due to its wide application in electric car manufacturing, all of which makes copper a leading indicator of the state of the economy.
The need for copper, an element that is essential to electrical systems, will increase as the world proceeds to move toward sustainable energy.
