Misc
The Largest Copper Mines in the World by Capacity
The Largest Copper Mines in the World
Copper is one of the most-used metals in the world, for good reason.
Global copper production has expanded with populations and economies, especially in China, which consumed 54% of the world’s refined copper in 2020. Copper’s demand comes from various industries, ranging from construction to renewable energy.
But before copper reaches its array of end-uses, miners have to extract and refine from deposits within the ground. So where are the world’s largest copper mines, and just how large are they?
Types of Copper Deposits
The location of mines ultimately depends on the occurrence and discovery of copper deposits. There are two main types of copper deposits:
- Porphyry deposits:
These are copper ore bodies formed from hydrothermal fluids from magma chambers that lie deep below the deposit. - Sediment-hosted deposits:
These deposits are formed when copper-bearing fluids mix with permeable sedimentary and volcanic rocks.
Copper is primarily sourced from porphyry deposits, which are concentrated in the Americas. Therefore, many of the world’s largest copper mines operate in this region.
Top 20 Copper Mines by Capacity
North, South, and Central America collectively host 15 of the 20 largest copper mines. These three regions combine the capacity for nearly 36% of global copper production in 2020.
| Rank | Mine | Country | Annual Production Capacity (tonnes) | Capacity as a % Global Production† |
|---|---|---|---|---|
| 1 | Escondida | Chile 🇨🇱 | 1,400,000 | 7.0% |
| 2 | Collahuasi | Chile 🇨🇱 | 610,000 | 3.1% |
| 3 | Buenavista del Cobre | Mexico 🇲🇽 | 525,000 | 2.6% |
| 4 | Morenci | U.S. 🇺🇸 | 520,000 | 2.6% |
| 5 | Cerro Verde II | Peru 🇵🇪 | 500,000 | 2.5% |
| 6* | Antamina | Peru 🇵🇪 | 450,000 | 2.3% |
| 6* | Polar Division | Russia 🇷🇺 | 450,000 | 2.3% |
| 8 | Las Bambas | Peru 🇵🇪 | 430,000 | 2.2% |
| 9 | Grasberg | Indonesia 🇮🇩 | 400,000 | 2.0% |
| 10 | El Teniente | Chile 🇨🇱 | 399,000 | 2.0% |
| 11* | Chuquicamata | Chile 🇨🇱 | 370,000 | 1.9% |
| 11* | Los Bronces | Chile 🇨🇱 | 370,000 | 1.9% |
| 11* | Los Pelambres | Chile 🇨🇱 | 370,000 | 1.9% |
| 14 | Kansanshi | Zambia 🇿🇲 | 340,000 | 1.7% |
| 15 | Radomiro Tomic | Chile 🇨🇱 | 330,000 | 1.7% |
| 16* | Kamoto | Congo 🇨🇩 | 300,000 | 1.5% |
| 16* | Cobre Panama | Panama 🇵🇦 | 300,000 | 1.5% |
| 18 | Bingham Canyon | U.S. 🇺🇸 | 280,000 | 1.4% |
| 19 | Toquepala | Peru 🇵🇪 | 265,000 | 1.3% |
| 20 | Sentinel | Zambia 🇿🇲 | 260,000 | 1.3% |
*Mines with equal capacities have the same rankings. †2020
The Escondida Mine in Chile is by far the world’s largest copper mine. Its annual capacity of 1.4 million tonnes means that it can produce more copper than the second and third-largest mines combined.
Porphyry copper deposits are often characterized by lower grade ores and are mined in open pits. As a result, some of the top copper mines are also among the world’s largest open pits. The Bingham Canyon Mine (seen below) in Utah, United States, is the deepest open pit with a depth of 1.2 km. It’s also the largest man-made excavation on Earth, spanning 4 km wide.
Chuquicamata and Escondida are the second and third-deepest open pits, respectively.
Indonesia’s Grasberg Mine is another notable name on this list. It produces both gold and copper on a massive scale and has the world’s largest known reserve of gold and the second-largest reserve of copper.
Overall, the top 20 mines have the capacity to produce nearly nine million tonnes of copper annually—representing 44% of global production in 2020. However, with demand for refined copper expected to rise 31% between 2020 and 2030, these existing sources of supply might not be enough.
Falling Grades, Rising Demand: New Mines on the Block?
According to the International Energy Agency, average copper ore grades in Chile have declined by 30% in the last 15 years. Since Chile’s mines produce more than one-fourth of the world’s copper, these falling ore grades could be a cause for concern—especially with a deficit looming over the market for refined copper.
New copper mining projects are becoming more valuable and it wouldn’t be surprising to see fresh names on the list of the largest copper mines. For example, the Kamoa-Kakula Mine, which started production in May 2021, is expected to churn out 800,000 tonnes of copper annually after expansion. That would make it the second-largest copper mine by capacity.
Visualizing Raw Steel Production in 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Steel is essential for the economy due to its crucial role in infrastructure, construction, manufacturing, and transportation sectors.
This graphic breaks down the estimated global production of raw steel in 2023. The data was sourced from the U.S. Geological Survey as of January 2024.
China Produces More Than Half the World’s Steel
One major issue facing the steel industry is overcapacity in top producer China.
Steel production in China has surpassed demand in recent years, leading to downward pressure on the profit margins of steel mills worldwide.
Historically, China’s troubled real estate sector has accounted for over one-third of the country’s steel consumption. To address this issue, the Chinese government has mandated steel production cuts since 2021.
Far behind China, India is the second-biggest producer of steel, followed by Japan.
| Country | Region | 2023 Production (million tonnes) |
|---|---|---|
| 🇨🇳 China | Asia | 1,000 |
| 🇮🇳 India | Asia | 140 |
| 🇯🇵 Japan | Asia | 87 |
| 🇺🇸 U.S. | North America | 80 |
| 🇷🇺 Russia | Europe | 75 |
| 🇰🇷 S. Korea | Asia | 68 |
| 🌍 Rest of World | 420 | |
| Total | 1,870 |
Infinite Recyclability
Steel is an alloy primarily composed of iron ore containing less than 2% carbon, 1% manganese, and other trace elements. It is 1,000 times stronger than iron and can be recycled over and over without sacrificing quality.
Steel is widely used in various industries. It is a fundamental material in construction, providing support through beams, internal structures, and roofing.
Moreover, steel’s corrosion-resistant properties make it ideal for water infrastructure. Stainless steel pipes are the preferred choice for underground water systems, ensuring longevity and purity in water transportation.
Additionally, most canned foods are stored in steel containers for preservation, as steel does not rust.
Misc
Visualizing Cobalt Production by Country in 2023
The Democratic Republic of Congo accounts for 74% of the world’s cobalt output.
Visualizing Cobalt Production by Country in 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Cobalt is a critical mineral used in numerous commercial, industrial, and military applications. In recent years, it has gained attention as it is also necessary for batteries used in cell phones, laptops, and electric vehicles (EVs).
This graphic illustrates estimated cobalt production by country in 2023 in metric tons. The data is from the most recent U.S. Geological Survey (USGS) Mineral Commodity Summaries, published in January 2024.
The DRC Produces 74% of Global Cobalt
The Democratic Republic of Congo (DRC) accounts for 74% of the world’s cobalt output. Although the metal is found on a large scale in other parts of the world, like Australia, Europe, and Asia, the African nation holds the biggest reserve by far. Of the 11,000,000 metric tons of worldwide reserves, it is estimated that 6,000,000 metric tons are located in the DRC.
| Country | metric tons | Percentage |
|---|---|---|
| 🇨🇩 DRC | 170,000 | 74% |
| 🇮🇩 Indonesia | 17,000 | 7% |
| 🇷🇺 Russia | 8,800 | 4% |
| 🇦🇺 Australia | 4,600 | 2% |
| 🇲🇬 Madagascar | 4,000 | 2% |
| 🇵🇭 Philippines | 3,800 | 2% |
| 🌍 Other Countries | 21,100 | 9.00% |
| Total | 229,300 | 100% |
Since around 20% of the cobalt mined in the DRC originates from small-scale artisanal mines, often employing child labor, the extraction of the metal has been a point of intense debate. With a long history of conflict, political upheaval, and instability, the country is often listed among the poorest nations in the world.
Today, the EV sector constitutes 40% of the overall cobalt market.
China is the world’s leading consumer of cobalt, with nearly 87% of its consumption used by the lithium-ion battery industry.
In the U.S., 50% of cobalt consumed is used in superalloys, mainly in aircraft gas turbine engines.
Learn More About Critical Minerals From Visual Capitalist
If you enjoyed this post, be sure to check out The Critical Minerals to China, EU, and U.S. National Security. This visualization shows which minerals are essential to China, the United States, and the European Union.
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