2024-05-17 Michał Kąkol 8 MIN READ

Copper Production by Country in 2023

"The geostrategic importance of the 'Metal of Electrification' in the 2024 industrial architecture."

Natural Resources Intelligence

Copper is often called the 'Metal of Electrification' due to its essential role in wiring, motors, and renewable energy infrastructure. As the world pushes towards a green energy transition, the demand for copper is projected to skyrocket, making its production map a mirror of future industrial power.

In 2023, the global copper landscape saw significant shifts. While Chile remains the undisputed leader, Peru is facing increasing competition from the Democratic Republic of Congo (DRC) for the second spot. China, while a major producer, remains the world's largest consumer, driving a massive percentage of the global copper trade.

Copper Production by Country in 2023 visual 1

Global Copper Dynamics

Copper is considered an essential metal for the clean energy transition because it is a great conductor of electricity.

As a result, governments around the world have been encouraging the construction of new mines, and mining companies have been seeking new projects and acquiring existing mines to meet the growing demand.

In this graphic, we illustrate global copper production in 2023, based on data from the U.S. Geological Survey, Mineral Commodity Summaries, as of January 2024.

Most Copper Comes from South America

Chile and Peru account for one-third of the world’s copper output.

Global Copper Production Data Chart 2023

Chile is also home to the two largest mines in the world, Escondida and Collahuasi.

Meanwhile, African countries have rapidly increased their production. The Democratic Republic of Congo, for example, transitioned from being a secondary copper producer in the late 1990s to becoming the third-largest producer by 2023.

Part of the growth in copper mining in Africa is attributed to high investment from China. Chinese mining companies represent 8% of Africa’s total output in the mining sector.

Within its territory, China has also seen a 277% growth in copper production over the last three decades.

In the U.S., Arizona is the leading copper-producing state, accounting for approximately 70% of domestic output. Copper is also mined in Michigan, Missouri, Montana, Nevada, New Mexico, and Utah.

Key Analysis Themes

Critical Mineral Geopolitics
Energy Transition Infrastructure
Global Mining Output Analysis
Resource Scarcity & ESG
Future Demand Projections

Mining Output Metrics

Copper Production IndexTier 1
Supply Chain SecurityHigh
Extraction ESG ComplianceAdvanced

Global Challenges

  • 01Addressing the environmental impact of large-scale open-pit mining
  • 02Managing political and community relations in high-output regions
  • 03Expanding refining capacity to match raw ore production growth
  • 04Securing supply chains against localized disruptions in key producer nations

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Strategic Takeaway

"Copper is the foundational asset for the next century's energy grid. Understanding the nodes of production allows investors to position themselves at the very start of the most significant industrial shift since the steam engine."