Global Copper Mine Production Rose 21% in 1999-2008 - ICSG

LISBON, Aug. 3 -- World copper mine production increased by 21% in the 10 years from 1999 to 2008, according to data published on Friday by the International Copper Study Group.

    Output rose from 12,8-million tons to 15,5-million tons during the period, comprising an 18% increase in the production of copper in concentrates and a 34% gain in solvent-extraction/electrowinning production.

    The SX-EW share of total mine production increased from 18% in 1999 to 20% in 2008, the ICSG said.

    While the mine capacity utilisation rate averaged 89,3% over the period, the rate fell sharply during later years.

    From 2006 until 2008, capacity utilisation averaged only 84,9%, as lower head grades, labour unrest, technical difficulties and a shortage of equipment, labour and utilities all weighed on overall production levels.

    Mine production only grew by an average of 1,2% during these later years, after growing at an average of 2,6% a year during the previous years.

    On a regional basis, production increased over the ten-year period by 89% in Africa, 35% in Latin America, 29% in Asia, 15% in Oceania, and 7% in Europe, but declined by 17% in North America.

    Overall, annual world refined copper production rose by 25%, from 14,6-million tons in 1999 to 18,2-million tons in 2008, with an annual average growth rate of 2,6%.

    Over the full 10-year period, China and India's annual refined production more than tripled, increasing by 2,6-million tons, to 3,8-million tons and by 470 000 t to 675 000 t, respectively.

    Significant increases also occurred in Chile, Australia, Japan, South Korea, Russian Federation and Zambia, that together added around one million tons of annual world refined production.

    In the United States, which had been the leading world producer in 1998, refined production fell by 41% (865 000 t) during the 10-year period, and it slipped to fourth position as a world producer of refined copper.

    World annual refined copper usage increased by 26% over the 10-year period, from 14,3-million tons, to 18-million tons.

    Growth was driven by China, where usage over the 10-year period increased by around 3,7-million tons, or 245%.

    (Source: miningweekly.com)