Top Ten Copper Miners to Record Boosted Output in 2021

SEATTLE (Scrap Monster): The copper production from the top ten mining companies is estimated to rise by nearly 3.8% to touch 12.2 million tonnes, said latest research report published by GlobalData.

The report noted that production had recorded a marginal decline by 0.2% to 11.76 million tonnes in 2020. Out of the top ten mining companies, six managed to boost their output, despite impacts caused by Covid-19 pandemic.

The Canadian miner First Quantum was the miner to record highest jump in copper production, reporting year-on-year growth by 10.4% during the previous year. The company’s Sentinel mine in Zambia and Cobre mine in Panama were the major contributors to the increased output.

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The other companies to report increased production were Jiangxi Copper, Anglo American, Codelco, KGHM Polska and Grupo Mexico.

The highest decline in output was reported by Glencore, with output registering 8.2% fall. Antofagasta, BHP and Freeport McMoRan also featured among the list of miners with reduced output.

GlobalData foresees robust growth of 18.5% from Freeport McMoRan, aided by restart of its Grasberg mine in Indonesia. Also, it expects 9.1% and 5.3% growth from First Quatum and Jiangxi respectively.