Chile's Codelco has regained its position as the world's largest copper producer, after reporting slightly higher production in 2024 than BHP.
According to institutional estimates, the Chilean state-owned miner produced 1.44 million mt of copper last year, while BHP's attributable production was 1.43 million mt.
Codelco has been working to complete key projects that will develop richer deposits in its aging mines. The company is also seeking additional investments, including early-stage negotiations with Saudi Arabia.
The mining company is also exploring new technologies, including a rock-crushing technology developed by Robert Friedland's I-Pulse Inc., which uses electricity to break rocks more efficiently.
Mine recovery is a top priority for Codelco, as declining ore quality requires the company to mine more raw material to maintain production levels.
Meanwhile, BHP is investing $10.8 billion to modernize its aging operations in Chile. BHP manages the world's largest copper mine, Escondida, in Chile.
**Copper Prices Soar on US Tariff Expectations**
Demand for copper remains strong, as miners rush to ship copper to the US amid reports that the US may impose tariffs on copper earlier than expected.
Last week, New York copper futures reached a record high of around $11,840 per mt.
At the recent Financial Times Commodities Summit in Switzerland, major traders predicted that copper prices could exceed $12,000 per mt this year as global supply concerns intensify.
For more updates on the copper industry chain, you are welcome to attend the CCIE 2025 SMM (20th) Copper Industry Conference & Expo, hosted by SMM, which will be held in Nanchang, Jiangxi from April 22-25, 2025. CCIE 2025 SMM (20th) Copper Industry Conference & Expo ~
Over 3,000 industry elites, representatives from upstream and downstream enterprises in the copper industry chain, government officials, industry associations, third-party equipment, logistics and warehousing, as well as experts from universities and research institutions will gather together. The conference covers mines, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain.
At the event, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry.
The conference features a variety of exciting activities: the main forum focuses on global copper market trends, raw material supply, policy impacts, and market directions. Sub-forums delve into industry hot topics such as electrical power transmission and distribution, secondary copper, copper-based new materials, hardware and plumbing, and ESS. During the conference, there will also be a two-day field trip to 12 representative enterprises in the copper industry, with a cumulative production of 1 million mt. Share cutting-edge technologies and valuable experiences to help upgrade the copper industry chain and promote high-quality development in the industry.
CCIE 2025 SMM (20th) Copper Industry Conference & Expo Helps you grasp the industry pulse, expand your network, and seek business opportunities! SMM cordially invites you to join us in Nanchang, Jiangxi from April 22-25, 2025, to gather in the new era of copper and jointly plan for new development!
