TABLE-Global Copper Reserve Capacity -Shanghai Metals Market

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TABLE-Global Copper Reserve Capacity

Industry News 04:43:56PM Apr 06, 2010 Source:SMM

April 5 (Reuters) - Global copper reserves would be enough to maintain current production rates for approximately 34 years, according to data from the U.S. Geological Survey's annual minerals report.

Chile, which is hosting this week's CRU/CESCO copper conference, claims nearly 30 percent of the total, more than twice as much as the next biggest reserves holder, according to data from the January Mineral Commodity Summaries.

 
               Mine Production
Reserves
 
2008
2009 (E)
Chile 
5,330
5,320
160,000
Peru 
1,270
1,260
63,000
Mexico
247
250
38,000
United States
1,310
1,190
35,000
Indonesia
651
950
31,000
China
950
960
30,000
Poland 
430
440
26,000
Australia
886
900
24,000
Australia
886
900
24,000
Russia 
750
750
20,000
Zambia
546
655
19,000
Kazakhstan
420
410
18,000
Canada 
607
520
8,000
Other countries  
2,030
2,180
70,000
TOTAL
 
15,400
15,800
540,000

NOTE. The USGS says official reserves reported by China may include deposits not currently economic to develop. Revisions to reserves for Canada, Indonesia, Peru, and Poland are based on company reports.

The USGS defines "reserves" as: That part of the reserve base which could be economically extracted or produced at the time of determination. The term reserves need not signify that extraction facilities are in place and operative. Reserves include only recoverable materials; thus, terms such as "extractable reserves" and "recoverable reserves" are redundant and are not a part of this classification system.
 

TABLE-Global Copper Reserve Capacity

Industry News 04:43:56PM Apr 06, 2010 Source:SMM

April 5 (Reuters) - Global copper reserves would be enough to maintain current production rates for approximately 34 years, according to data from the U.S. Geological Survey's annual minerals report.

Chile, which is hosting this week's CRU/CESCO copper conference, claims nearly 30 percent of the total, more than twice as much as the next biggest reserves holder, according to data from the January Mineral Commodity Summaries.

 
               Mine Production
Reserves
 
2008
2009 (E)
Chile 
5,330
5,320
160,000
Peru 
1,270
1,260
63,000
Mexico
247
250
38,000
United States
1,310
1,190
35,000
Indonesia
651
950
31,000
China
950
960
30,000
Poland 
430
440
26,000
Australia
886
900
24,000
Australia
886
900
24,000
Russia 
750
750
20,000
Zambia
546
655
19,000
Kazakhstan
420
410
18,000
Canada 
607
520
8,000
Other countries  
2,030
2,180
70,000
TOTAL
 
15,400
15,800
540,000

NOTE. The USGS says official reserves reported by China may include deposits not currently economic to develop. Revisions to reserves for Canada, Indonesia, Peru, and Poland are based on company reports.

The USGS defines "reserves" as: That part of the reserve base which could be economically extracted or produced at the time of determination. The term reserves need not signify that extraction facilities are in place and operative. Reserves include only recoverable materials; thus, terms such as "extractable reserves" and "recoverable reserves" are redundant and are not a part of this classification system.