The world’s copper reserves ranked by country

DRC and China are burning through their copper reserves fastest in the world

According to the previous report prepared by Mines and Metals, estimated global mine production of copper was 20 million tonnes in 2019, or 2% less than in 2018 (20.4 million tons).

It was estimated that world’s recoverable copper reserves amounted to approximately 870 million metric tons in 2019.

Chile has the world’s largest copper reserves of any country by far, with 200 million metric tons as of 2019. Chile also the biggest mined copper producer in the world despite a 4% decline in 2019.

Copper plays a significant role in the Chilean economy, with an estimated 20 percent of Chile’s GDP attributed to its copper production.

Second largest copper reserves endowment belongs to Australia (87 million tons) that followed by Peru (87 million tons) and Russia (61 million tons).

World’s copper reserves, ktons

Source: Mines and Metals, based on industry data.

DRC and China are facing a rapid depletion of their local copper mineral reserves. Reserves-to-production (R/P) ratio that represents the “burn rate” of proven reserves of mineral commodities when applying current levels of domestic mine production shows that DRC and China are in the “red zone” for future local supplies of copper.

Copper R/P (“burn rate”) ratio, years.

Source: Mines and Metals, based on industry data.

To keep up to date with Mines and Metals, subscribe to our free email newsletters covering rich mining intelligence and news, that will be delivered straight to your inbox.

(Visited 280 times, 1 visits today)
error: Content is protected !!
Copy link