Research agency BMI projects that the global primary copper production this year would increase by 2.5% year-on-year on the back of a recovery in Chile and a ramp-up of the Oyu Tolgoi project in Mongolia.
At the same time, this increase will be offset by reduced output guidance at the Kamoa-Kakula mine in the Democratic Republic of the Congo (DRC).
BMI expects that primary copper output will increase between 2025 and 2034 by 2.9% a year on average. The total mine output is projected to rise from 23.8 million tonnes this year to about 30.9 million tonnes by 2034
Copper mine production in Chile will be supported by higher output levels at the Quebrada Blanca, Escondida, Centinela, Mantos and Codelco mines, offsetting declines at mines such as Collahuasi, Los Pelambres and others. Overall, copper output in the country is expected to rise 3% year-on-year.
Theodor Lisovoy, Managing Editor, Rough&Polished
