Analysis of Global New Copper Concentrate Capacities and the Distribution

Published: Jun 17, 2022 17:45
Source: SMM
According to SMM statistics, the global copper mines will release up to 164,000 mt (metal content) of new capacity in 2022.

SHANGHAI, Jun 17(SMM) - According to SMM statistics, the global copper mines will release up to 164,000 mt (metal content) of new capacity in 2022 (Hydro-copper output has been excluded, the same below). Among them, it is expected that in 2022, the commissioning of Quebrada Blanca Phase 2 in Chile will add 40,000 mt of copper in metal content; the commissioning of Quellaveco in Peru will add 40,000 mt in metal content, and the Udokan copper mine in the Russian Federation will add 30,000 mt in metal content.

In 2022, under the background of the increase of 164,000 mt in metal content brought by the new production of global copper mines, the new production increase in Latin America will account for the largest proportion of 49%, followed by the CIS region, accounting for 18%, and the North American region will account for 15%. The new production increase in Asia accounted for 10%, and finally the new production increase in Africa accounted for 8%.

According to SMM statistics, the expansion of global copper concentrate and the further increase of new mines in production will bring a total of 1.023 million mt in metal content in 2022. The increase in Latin America will account for the largest proportion of 33%, 25% in Asia, 22% in Africa, 12% in the Commonwealth of Independent States, 6% in Europe, and 1% in North America and Oceania.

In 2022, it is expected that the expansion of Asian copper mines and the increase in output of new mines will reach 271,000 mt, mainly because the expansion project of Indonesia's Grasberg Block Cave will bring an increase of 130,000 mt in metal content. It is expected that the Julong Copper Mine of China will add 111,000 mt of copper in metal content.

In 2022, it is expected that the expansion of European copper mines and the increase in output of newly commissioned mines will reach 58,000 mt, mainly because the expansion of the Timok copper mine in Serbia is expected to bring an increase of 48,000 mt in metal content.

In 2022, it is expected that the expansion of copper mines in Latin America and the new mines put into operation will increase output by 337,000 mt. It is expected that Chuquicamata in Chile will contribute an increase of 100,000 mt of copper in metal content, and the expansion of Cerro Verdo copper mine will bring 40,000 mt in metal content. In addition, the Cobre Panama copper mine in Panama, the Mina Justa copper mine in Peru and the Mirador copper mine in Ecuador can all add an increment of 30,000 mt in metal content.

In 2022, it is expected that the expansion of Africa copper mines and the increase in output of new mines will reach 230,000 mt, mainly because the expansion project of the Kamoa-Kakula copper mine in Zambia will release an increase of 180,000 mt in metal content.

In 2022, the expansion of copper mines in the Commonwealth of Independent States and the newly-commissioned mines are expected to increase output by 120,000 mt. According to SMM research, Kaz Minerals' Aktogay in Kazakhstan can add 100,000 mt in metal content this year.


Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
North Copper Reports 15.8% Revenue Growth, Proposes Cash Dividend in 2025 Annual Report
1 hour ago
North Copper Reports 15.8% Revenue Growth, Proposes Cash Dividend in 2025 Annual Report
Read More
North Copper Reports 15.8% Revenue Growth, Proposes Cash Dividend in 2025 Annual Report
North Copper Reports 15.8% Revenue Growth, Proposes Cash Dividend in 2025 Annual Report
North Copper (000737) disclosed its annual report on April 24. In 2025, the company achieved revenue of 27.916 billion yuan, up 15.80% YoY; net profit attributable to the parent company was 791 million yuan, up 29.01% YoY; basic earnings per share were 0.415 yuan. The company proposed a cash dividend of 1.4 yuan per 10 shares (tax inclusive). During the reporting period, the company's main mines maintained stable production, but copper concentrates supply was tight in the market, and copper smelting TC remained subdued.
1 hour ago
Pengxin Resources Reports 81.94% Revenue Growth,扭亏为盈并提议每股派息0.31元
1 hour ago
Pengxin Resources Reports 81.94% Revenue Growth,扭亏为盈并提议每股派息0.31元
Read More
Pengxin Resources Reports 81.94% Revenue Growth,扭亏为盈并提议每股派息0.31元
Pengxin Resources Reports 81.94% Revenue Growth,扭亏为盈并提议每股派息0.31元
Pengxin Resources (600490) disclosed its annual report on April 24. In 2025, the company achieved revenue of 3.411 billion yuan, up 81.94% YoY; net profit attributable to the parent company was 225 million yuan, compared with a loss of 96.7716 million yuan in the prior year; basic earnings per share were 0.1019 yuan. The company proposed a cash dividend of 0.31 yuan per 10 shares (tax inclusive). During the reporting period, the company achieved continuous breakthroughs in its South Africa gold mine project, maintained stable production and improved efficiency at its DRC project, advanced new trade business models, and accelerated industrial expansion in and outside China, increasing mineral resource reserves and enhancing the company's overall competitiveness.
1 hour ago
U.S. Treasury Secretary Bessent Discusses Policy Blueprint and Fed Chairman Possibility
1 hour ago
U.S. Treasury Secretary Bessent Discusses Policy Blueprint and Fed Chairman Possibility
Read More
U.S. Treasury Secretary Bessent Discusses Policy Blueprint and Fed Chairman Possibility
U.S. Treasury Secretary Bessent Discusses Policy Blueprint and Fed Chairman Possibility
U.S. Treasury Secretary Bessent stated in an exclusive interview on Friday, outlining his policy blueprint for artificial intelligence, energy, taxation, and financial regulation, and indicated that he did not rule out the possibility of serving as Fed Chairman in the future.Bessent said he did not rule out the possibility of serving as Fed Chairman in the future, but explicitly refused to run for any public office. He explained that the Fed Chairman does not need to participate in elections, can shape the direction of the economy, and that the US Fed itself is an important institution.
1 hour ago