The company is one of the largest diversified mining companies in the world behind BHP - and like BHP, Rio Tinto was also negatively impacted by strikes at Chile’s Escondida mine. Rio Tinto’s copper production in 2020 totaled 548,074 tonnes. In 2021, output is expected to be strong from Cobre Panama, as well as First Quantum’s other two key copper mines, Kansanshi and Sentinel in Zambia. The company was able to increase its production guidance for the year despite temporary coronavirus shutdowns at its Cobre Panama mining operation. First Quantum Minerals (TSX: FM,OTC Pink:FQVLF)Ĭanada’s First Quantum Minerals produced more than 715,000 tonnes of copper in 2020. On its website, Grupo Mexico says expansion work at its Buenavista del Cobre mine in Mexico and Toquepala mine in Peru will make the company the world’s third largest copper producer. 2020 marked a year of record copper production for the company despite the global coronavirus crisis. Grupo Mexico’s mining division is the largest copper producer in the country. The company continues to make significant investments in Grasberg to increase both its copper and its gold production. One of the company’s biggest copper assets is the Grasberg mine in Indonesia, the 10th largest copper mine in the world. Despite coronavirus-related production setbacks, strong copper prices helped to buoy profits for the company. Freeport-McMoRan (NYSE: FCX)įreeport-McMoRan recorded 1.08 million tonnes of copper production for 2020. Labor strife has continued for BHP into 2021 at the Escondida and Spence copper mines in Chile, although the company claims the current strikes have not impacted production. The Australian mining giant managed to keep its copper production numbers high despite the year’s COVID-19 disruptions and strikes at Escondida, the world’s largest copper mine. In 2020, BHP produced 1.21 million tonnes of the red metal.
In addition to cobalt, the mine has five copper production lines. Operations at Mutanda, the world’s biggest cobalt mine, are set to resume sometime in 2022. Rather than COVID-19 disruptions, Glencore attributed its production decline to its Mutanda mine being placed on care and maintenance in 2019.
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After suffering an 11 percent drop in copper production for the first half of the year versus the same period in 2019, the company cut its annual production guidance for the full year to 1.23 million tonnes. Major diversified miner Glencore produced 1.26 million tonnes of copper in 2020.
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The project is a part of the company’s 10 year, US$40 billion plan to upgrade its many aging mines. In May 2021, Codelco announced the start of a US$1.4 billion project aimed at extending the life of its Salvador mine through 2068 by converting the underground mine to an open-pit operation. Although there were concerns early in the year that operation curtailments due to the coronavirus pandemic would knock Codelco from its top spot, the Chilean company defied those expectations to meet its production guidance for the year. As the world’s biggest copper producer, the company put out 1.76 million tonnes in 2020. The first top copper-producing company on the list is state-owned Codelco. Top Battery Metals Stocks on the TSX and TSXV.
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