Based on the copper production in the second quarter report of 2022, Kitco has counted the top ten copper mining companies in the world.
Ranked first is Chile mining giant Codelco, which is the world's largest copper mining company. It is reported that its output in the second quarter fell 9% year-on-year to 397,000 tons (including Codelco's shares in El Abra and South Anglo American Resources). The company said its copper output was affected by the reduction in grade ore in Hales mining area and the reduction in processing and copper recovery rates in Chuquicamata and El Teniente segments.
Freeport ranked second, with the company's copper production in the second quarter of 2022 at 392,000 tons, an increase of 17% from a year ago, mainly due to the increased operating rates in the Grasberg Mineral Area and Cerro Verde.
BHP Billiton ranked third, mining 313,000 tons of copper (attributed copper) in the second quarter of 2022, an increase of 14% over the second quarter of 2021. The company said it increased its production in Escondida due to increased grade and ore dressing plant output in the second quarter of 2022, and increased production in Spience and Olympic Dam due to improved leaching performance.
Glencore ranked fourth. The company's own procurement of copper in the second quarter of 2022 was 252,000 tons, 15% lower than in the second quarter of 2021, as a result of Katanga plus ongoing geotechnical restrictions, selling Ernest Henry, Collahuasi sequencing and lower copper installations produced by Glencore's zinc business in January 2022.
Zijin Mining controls the largest number of copper and gold resources overseas among Chinese companies, ranking fifth, with mineral copper production in the second quarter of 2022 of 216,000 tons. After the successful start of key projects such as the Upper District of Cukaru Peki Copper and Gold Mine in Serbia, the Kamoa-Kakula Copper and Tibet Julong Copper Mine, the company increased its quarterly copper production.
Southern Copper Industry ranks sixth. The company's copper production in the second quarter of 2022 fell 12.1% year-on-year to 208,000 tons. This decline was mainly attributed to the decline in production due to the Cuajone mine shutdown and the decline in copper production at Toquepala and La Caridad due to lower grades.
Source: SMM
Disclaimer: This article only represents personal opinions and is not used as an investment reference. Investment is risky, so be cautious when entering the market.
