Chile, the world’s leading copper producer country, produced an estimated 5.7 million metric tons of copper in 2020. Because of New milling technology, economic reforms, and increasing investment attractiveness Chile Turned into a copper powerhouse
In second place is Peru, with an estimated copper mine production of 2.2 million metric tons in the same year.
Previously part of Anaconda Copper, the mine is now owned and operated by Codelco, a Chilean state enterprise, since the Chilean nationalization of copper in the late 1960s and early 1970s.
Antamina is one the lowest cost copper mines in the world.
The largest copper mine in the United States was Morenci in Greenlee, Arizona. Morenci had a capacity of some 480,000 metric tons of copper that year.
Leading United States copper mines based on capacity in 2015
But In 2020, Codelco was the copper mining company with the highest output, producing some 1.73 million metric tons of the metal. The Chilean company was followed by Glencore, with a production output of 1.26 million metric tons.
Copper is naturally present in the Earth’s crust. Global copper reserves are estimated at 870 million tonnes, and annual copper demand is 28 million tonnes. These copper resources are estimated to exceed 5,000 million tonnes
Copper is a unique precious metal that is often overlooked by investors, despite the fact that it’s one of the most useful and reliable minerals out there.Not only is copper a low-risk investment, but it also yields excellent value to an investor.