The conversion of copper consists of a series of chemical,
physical, and electrochemical processes. Methods have evolved and vary
with country depending on the ore source, local environmental
regulations, and other factors.As in all mining operations, the ore must
usually be beneficiated (concentrated). To do this, the ore is crushed.
Then it must be roasted to convert sulfides to oxides, which are
smelted to produce matte. Finally, it undergoes various refining
processes, the final one being electrolysis.
Meanwhile, a number of the world’s biggest mining companies appear
to be placing bets on copper. Global mine production of copper
increased from 2013 to 2014, with mines producing 270,000 additional
tonnes last year. A rise in production volume, better grades and a
number of new mines, ramp ups and expansions were enough to offset
losses incurred from mine closures, lower grades and operational
disruptions. Companies also combated lower yields, which accounted for
two-thirds of total production losses.
Thomson Reuters GFMS release its Annual Copper survey – Copper
2015 – in which it predicts a continuing copper surplus and a 12% fall
in average copper price for the year to $5975/tonne compared with 2014.
Here’s the top 10 copper mine in the
world ( copper-producing companies ) , as outlined in this year’s
Thomson Reuters GFMS Copper Survey.
1. Codelco ( Production: 1.84 million tonnes )
CODELCO (Corporación Nacional del Cobre de Chile or, in English,
the National Copper Corporation of Chile) is a Chilean state owned
copper mining company. It was formed in 1976 from foreign-owned copper
companies that were nationalised in 1971
It is currently the largest copper producing company in the world and
produced 1.66 million tonnes of copper in 2007, 11% of the world total.
It owns the world's largest known copper reserves and resources. At the
end of 2007 it had a total of reserves and resources of 118 million
tonnes of copper in its mining plan, sufficient for more than 70 years
of operation at current production rates. It also has additional
identified resources of 208 million tonnes of copper, though one cannot
say how much of this may prove economic.
Codelco's principal product is cathode copper. It is also one of the
world's largest molybdenum producers, producing 27,857 fine metric tons
in 2007, and is a large producer of rhenium, of which Chile is the
world's largest producer. It also produces small amounts of gold and
silver from refinery anode slimes, the residue from electro refining of
copper.
Codelco increased its copper production in 2014 to 1.84 million tonnes.
In 2013, the company produced 1.79 million tonnes. This growth has led
the company to expect oversupply in 2015, at which time it will begin to
slow down its shipments, according to a Bloomberg article from last
November.
2. Freeport-McMoRan ( Production: 1.47 million tonnes )
Freeport-McMoRan Inc., (FMCG) often called simply Freeport, is
one of the world's largest producers of copper and gold. Its
headquarters are located in the Freeport-McMoRan Center in downtown
Phoenix, Arizona. Freeport is the largest copper and molybdenum producer
in the world. It mines and mills ores containing copper, gold,
molybdenum, cobalt and silver for the world market. The company was
formerly based in New Orleans, Louisiana, before moving to Phoenix,
Arizona, after acquiring copper producer Phelps Dodge in 2007. In
addition to Phelps Dodge, its subsidiaries include PT Freeport
Indonesia, PT Irja Eastern Minerals and Atlantic Copper, S.A.
Freeport-McMoRan in 2014, producing 1.47 million tonnes compared to
1.535 million tonnes in 2013. One of the company’s assets is the
Grasberg minerals district in Indonesia, which is one of the largest
copper deposits on the globe. Grasberg exported less material last year
due to a concentrate export ban in Indonesia, and has also had to
temporarily halt production this year due to worker protests.
3. Glencore ( Production: 1.296 million tonnes )
Glencore plc is an Anglo–Swiss multinational commodity trading and
mining company headquartered in Baar, Switzerland, with its registered
office in Saint Helier, Jersey. The company was created through a merger
of Glencore with Xstrata on 2 May 2013
MINING and trading giant Glencore says it has cut about 570 jobs from
its Queensland copper operations since acquiring Xstrata last year, as
mine workers continue to feel the brunt of post-boom commodities prices
and a focus on cost-cutting.
After the job cuts, the North Queensland operations, which include mines
and a smelter at Mount Isa, the Ernest Henry mine near Cloncurry and a
refinery at Townsville, has 2584 employees, including contractors. On
top of the capital spending cuts, Glencore has closed down a small
magnetite iron ore operation and open pit mining at Mount Margaret and
streamlined its copper management structure.
Copper production rates have been maintained, Glencore said,
highlighting 2013 production of contained copper. A major diversified
miner, Glencore produced 1.296 million tonnes of copper in 2014, an
increase over 2013′s total of 1.26 million tonnes The planned copper
expansion in Australia will mainly come from the Ernest Henry
underground caving mine, where a recent expansion is expected to double
ore production to 6 million tonnes a year
4. BHP Billiton ( Production: 1.203 million tonnes )
BHP Billiton is an Anglo-Australian multinational mining, metals
and petroleum company headquartered in Melbourne, Australia. It is the
world's largest mining company measured by 2013 revenues.
BHP Billiton was created in 2001 through the merger of the Australian
Broken Hill Proprietary Company Limited (BHP) and the Anglo–Dutch
Billiton plc. The result is a dual-listed company. The
Australia-registered BHP Billiton Limited
BHP Billiton in production from 2013 to 2014, producing 1.205 million
tonnes during the former and 1.203 million tonnes during the latter. The
Australia-based producer had plans to improve production in 2015, but
saw problems earlier this year at its Olympic Dam operation in
Australia, forcing it to cut its production forecast by 60,000 to 70,000
tonnes.
5. Southern Copper ( Production: 665,000 tonnes )
5. Southern Copper ( Production: 665,000 tonnes )
Southern Copper Corporation is a mining company originally founded
in 1952. The current incarnation Southern Copper can be traced to the
2005 acquisition of Mexican copper producer Minera México by Southern
Peru Copper Corporation.
Currently, 75.1 percent of Southern Copper is owned by Mexican mining
conglomerate Grupo México. Based on 2007 reserves data, Southern Copper
is the world's largest publicly traded copper mining company and the
largest copper mining company
In addition, the firm is the eighth largest copper smelting company. The
firm ranks among the world's largest producers of molybdenum, silver,
and zinc.
The company is a major producer and refiner of copper, molybdenum, zinc,
silver, lead, and gold, and operates mines and smelters in Mexico and
in Peru, in the Andes mountains southeast of Lima.
Southern Copper saw a gain in its copper production, putting out 635,000
tonnes in 2013 and 665,000 tonnes in 2014. The company, which is over
85-percent owned by Grupo Mexico, saw higher production at its Mexican
operations - specifically the Buenavista mine - as well as improvements
at its Peruvian operations.
The company believes it has the largest copper reserves in the industry.
However, Southern Copper and Grupo Mexico got some bad press for
environmental troubles at Buenavista mine this year - a toxic leak at
the mine contaminated the Bacanuchi and Sonora rivers in Northern Mexico
6. Rio Tinto ( Production: 636,000 tonnes )
Rio Tinto Group is a British-Australian multinational metals and
mining corporation with headquarters in London, United Kingdom, and a
management office in Melbourne, Australia. The company was founded in
1873, when a multinational consortium of investors purchased a mine
complex on the Rio Tinto river, in Huelva, Spain, from the Spanish
government. Since then, the company has grown through a long series of
mergers and acquisitions to place itself among the world leaders in the
production of many commodities, including aluminium, iron ore, copper,
uranium, coal, and diamonds.
Rio Tinto produce 636,000 tonnes of copper in 2014, an increase over the
587,000 tonnes it produced in 2013. One of the largest diversified
mining companies in the world behind BHP Billiton, Rio Tinto got some
good news regarding its Oyu Tolgoi mine in Mongolia this May: after two
years of setbacks due to disagreements over the project with the
Mongolian government, the two parties came to an agreement to move it
forward.
7. KGHM Polska Miedź ( Production: 506,000 tonnes )
KGHM Polska Miedź (KGHM Kombinat Górniczo-Hutniczy Miedzi Polish
Copper) (WSE: KGH) is one of the largest producers of copper and silver
in the world. The mining & metallurgy company is based in Poland in
Lubin. KGHM Polska Miedź S.A. owns shares in 33 entities, operating in
various production and service-related areas. Their vision is to become a
major global copper producer by increasing copper production to
approximately 700,000 tonnes, and to remain active in activities aimed
at the local community by creating jobs and protecting the environment.
Poland’s KGHM has operations in Europe, North America and South America,
and says that it holds over 37.5 million tonnes of copper ore resources
worldwide. In 2014, the company produced 506,000 tonnes of copper
compared to 531,000 tonnes in 2013.
Despite this decrease, the company is certain its production will
continue to grow, increasing its ranking as one of the world’s top
copper-producing companies. In January of this year, the company
released an announcement highlighting its commitment to shifting its
strategy.
8. Anglo American ( Production: 504,000 tonnes )
Anglo American plc is a multinational mining company headquartered in London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world output, and a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal. It has operations in Africa, Asia, Australasia, Europe, North America and South America. Anglo American produced less copper in 2013 than it did in 2014 - 516,000 tonnes and 504,000 tonnes, respectively. Anglo has already said that its Q1 2015 production was lower compared to the same period in 2015 (from 202,000 tonnes vs. 171,800 tonnes). The decrease was largely due to the fact that the company took one of its Los Bronces processing plants offline to manage water reserve levels.
Antofagasta plc is a Chilean business that operates in various sectors of the economy. It is one of the most important conglomerates of Chile with equity participation in Antofagasta Minerals, the railroad from Antofagasta to Bolivia, Aguas Antofagasta in Chile, Tethian in Australia and other investments in different parts from the world. Antofagasta is one of the major international copper producers with its activities concentrated mainly in Chile where it now operates four copper mines: Pelambres, Tesoro, Michilla and Esperanza.Antofagasta Minerals, is also active in mineral exploration in Chile and Peru.. Chilean copper mining company Antofagasta produced 455,000 tonnes of copper in 2014, a decrease from 2013′s total of 466,000 tonnes. However, according to a 2014 annual report released by the company, the loss was expected as the group focused on reducing costs and positioning itself for long-term growth. “The completion of the concentrator expansion at Centinela in 2015 will increase production there, and in our two mining districts we were advancing our Encuentro Oxides, Pelambres Incremental Expansion, and Centinela Second Concentrator projects,” Chairman Jean-Paul Lukasic said. With these advancements currently underway, the company expects to see considerable growth in copper production in coming years.
10. First Quantum Minerals ( Production: 380,000 tonnes )
First Quantum Minerals Ltd. is a Vancouver, British Columbia based
mining and metals company whose principal activities include mineral
exploration, development and mining. First Quantum Minerals Ltd. has
grown from a small mineral operation in Zambia into a multinational
mining business in less than two decades, with a global portfolio of
copper and nickel assets in Europe, Africa, Australia and South America.
This phenomenal growth is down to FQM people who have strived to be
Bolder, Smarter and Driven in everything they do.
In March 2013, First Quantum Minerals acquired Inmet Mining Corporation,
a Canadian-based mining company primarily producing copper and zinc
from mines in Finland, Spain and Turkey, with a major copper deposit
under development in Panama, known as Cobre Panama. The combination of
the First Quantum and Inmet assets has created one of the world’s
leading copper producers with a geographically diversified portfolio of
high-quality operations and development projects in eight countries
across five continents.
With a strategic plan to produce more than 1.3 million tonnes per annum
of copper within five years, the Company is poised to become the
largest, widely-held pure-play copper producer and one of the top five
copper producers in the world.
READ MORE >>> Top 10 World Silver Mine
READ MORE >>> Top 10 World Silver Mine
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