The World’s Biggest Copper Mines Based On Their Contained Reserves

Escondida, Chile

Escondida copper mine in the Atacama Desert in Northern Chile is currently the world’s largest copper mine by reserve. The mine contained more than 32 million tonnes (Mt) of recoverable copper reserves at the end of 2012. Escondida is also the world’s largest copper producing mine, in the financial year ending June 2013 output stood at 1.1 million tonnes (Mt), accounting for about five percent of global copper production. The mine has been in operation since late 1990 and is currently one of the10 deepest open-pit mines in the world. The reserve life of Escondida is estimated to be 54 years.

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Cananea, Mexico

Cananea, also known as Buenavista copper mine, located in Sonora, Mexico, is the world’s second biggest copper mine by reserve. The open-pit mine was estimated to contain 26.874Mt of copper reserve as of December 2012. A total 200,000t of copper was mined from the pit in 2012. Opened in 1899, Cananea is one of the oldest open-pit mines in North America and is currently owned and operated by the Southern Copper Corporation (SCC), a subsidiary of Grupo Mexico. The mine extracts the porphyry copper deposit lying within the southern Cordilleran region. The ore is refined at an on-site concentrator, which has a milling capacity of 77,000 tonnes per day.

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Collahuasi, Chile

Collahuasi copper mine is 180km south-east of the port of Iquique in northern Chile ranks as the third largest copper mine in the world. Proven and probable copper reserves of the open-pit mine as of December 2012 stood at 25.895Mt. The mine produced 282,096t of copper in 2012, accounting for 5.1% of Chile’s total copper output. The mine produced 245,288t of copper concentrates and 36,808t of copper cathodes in 2012. It has been in operation since 1999. It exploits three mineral deposits, namely Rosario, Ujina and Huinquintipa, in the Pica municipal district of Tarapacá Region. The mine life is 70 years.

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Andina, Chile

Andina copper mine, located 80km north-east of Santiago in northern Chile, is the fourth biggest copper mine in the world by reserve. The mine was estimated to contain 18.8Mt of fine copper at the beginning of 2013. Andina is owned and operated by Chile’s state-owned Codelco (Corporacion Nacional del Cobre de Chile), the largest copper producing company in the world. The copper deposit was discovered in 1920 and mining operations began in 1970.

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Toquepala, Peru

Toquepala copper mine, situated 870km away from Lima in Southern Peru, ranks as the world’s fifth largest copper mine by reserve. The open-pit mine was estimated to contain 17.65Mt of copper reserve as of December 2012. Southern Copper Corporation (SCC), a subsidiary of Grupo Mexico, owns and operates the mine. Toquepala produced about 152,000t of copper in 2012, including 120,000t of copper concentrates and 32,000t of copper cathodes. Ore is extracted from the Toquepala porphyry copper deposit located in the southern-most Andes Mountains of Peru. The extracted ore is refined at an on-site concentrator with a milling capacity of 60,000tpd.

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As an international manufacturer and supplier for copper sheet and bronze sheet, Shanghai Metal Corporation produces slitting, edging, and oscillates winding to fit your specific copper requirements. For more information on our copper products please visit our website here. Be sure to join the conversation in our Linkedln group, Facebook and Instagram.

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Sources: www.mining-technology.com,caprari.com.au

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William P.//SMC Editor

Dispute Resolution Moves To Stabilize World Copper Prices via Indonesia

Indo CopperAccording to the London Metal Exchange on Monday 28th July 2014 world Copper prices appear to have stabilized despite rising global demand putting inflationary pressures on the price. This is a direct result of the American natural resource company Freeport-McMoRan who has an industry leading global portfolio in mineral assets, significant oil and gas resources and a growing production profile. Yesterday Freeport was able to settle a six month long tax dispute with the Indonesian government, allowing for the resumption of Copper exports from major Indonesian mines such as in the Grasberg mineral region in West Papua (containing approximately 35.6 billion pounds of Copper) to key global Copper consuming nations such as China and India. Freeport-McMoRan is expected to export approximately 756,000 tonnes of Copper in the second half of 2014.

Settlement of this on-going tax dispute has doused the predominately bullish global Copper market in cold water despite sturdy factory growth in both China and the Euro-zone strengthening the overall world demand for Copper ore throughout the month of July. Additionally, economic data from Beijing has confirmed that the Chinese economy has weathered the economically choppy first half of 2014 and is expected to return to calmer waters where economic growth and expansion can really regain traction. This emphasizes that the Copper industry is finally solidifying its expected movement away from a demand-basis and more toward supply-surplus, ultimately stabilizing the previous up-and-down nature of world Copper prices throughout the first half of 2014.

Indonesian_depositsFurthermore, the London Commodity Futures Trading Commission has highlighted that global Long-positions of Futures and Forward contracts on Copper have peaked at an eight year high and have begun their descent into a predominately short-positions as world Copper supply moves into surplus, relieving excess demand and putting deflationary pressures on Copper prices. This is particularly so on the back of the news of Indonesia re-initiating their exports to major international Copper consumers such as China via Freeport-McMoRan.

Shanghai Metal Corporation stocks a wide selection of Copper-related products and raw materials for all your construction or manufacturing needs. Please take the time to browse our online catalog at: http://www.shanghaimetal.com/Copper–tpl3.html.

Zenn B.//SMC Editor