Global Copper Output Leaders: Which Nations Dominate Production in 2024

The global copper mines sector faced mounting pressures throughout 2024 as aging operations struggled without adequate replacement capacity. Copper demand from the energy transition surged, yet China’s economic slowdown tempered consumption growth. The result: copper prices hit a historic peak above $5 per pound in May, signaling a market increasingly squeezed between constrained supply and growing electrification needs. Industry analysts project copper markets will shift into deficit territory within the coming years, potentially driving further price appreciation.

Global copper production totaled 23 million metric tons in 2024, with output distributed unevenly across major producing nations. Understanding which countries lead this critical mineral sector—and why—matters for investors tracking commodity trends and energy transition investments.

Chile Leads with Nearly a Quarter of Global Output

Chile claimed the top position for copper production once again, generating 5.3 million metric tons and capturing approximately 23 percent of worldwide copper mines output. The country’s dominance reflects deep industry roots: state-owned Codelco alongside majors like Anglo American, Glencore, and Antofagasta all maintain substantial operations there.

BHP’s Escondida remains the planet’s largest operating copper mine. The facility typically produces around 2 million metric tons annually, with BHP holding 57.5 percent ownership, Rio Tinto controlling 30 percent, and Jeco retaining the remainder. BHP’s 2024 share amounted to 1.13 million metric tons. Looking ahead, Chilean copper mines are poised to rebound dramatically—S&P Global forecasts production will surge to 6 million metric tons in 2025 as newly commissioned facilities ramp up operations.

Congo’s Rapid Ascent: From Emerging to Second Place

The Democratic Republic of Congo vaulted to second position with 3.3 million metric tons of annual copper production, representing over 11 percent of global output. This marks significant momentum: DRC output jumped from 2.93 million metric tons just the year prior. A key catalyst was Phase 3 of Ivanhoe Mines’ Kamoa-Kakula project, which reached commercial operations in August 2024. The joint venture with Zijin Mining Group delivered 437,061 metric tons of copper concentrate in 2024, up from 393,551 metric tons the previous year. Ivanhoe has guided for even stronger 2025 results, projecting 520,000 to 580,000 metric tons.

Peru, China, and Indonesia Round Out the Top Five

Peru produced 2.6 million metric tons in 2024, down 160,000 metric tons from 2023. Freeport McMoRan’s Cerro Verde, Peru’s flagship copper mines operation, saw output decline 3.7 percent due to lower leach stockpile volumes and maintenance-related milling reductions. Meanwhile, China generated 1.8 million metric tons of mine copper—modest compared to its global dominance in refined copper processing, where it produced 12 million metric tons (44 percent of worldwide supply). China also maintains the world’s largest copper reserves at 190 million metric tons.

Indonesia emerged as the fifth-largest producer with 1.1 million metric tons, surpassing both the United States and Russia. Freeport McMoRan’s Grasberg complex anchors Indonesian copper mines operations, while PT Amman Mineral’s Batu Hijau expanded capacity significantly in 2024 following new smelting facility commissioning.

Mid-Tier Producers: USA, Russia, Australia, Kazakhstan, Mexico

The United States generated 1.1 million metric tons in 2024, with Arizona contributing 70 percent of domestic supply across 17 major copper mines. Freeport McMoRan’s Morenci operation (partnered with Sumitomo) leads US production at 700 million pounds annually. Russia produced 930,000 metric tons, boosted by production ramp-up at Udokan Copper’s Siberian copper mines facility. Australia contributed 800,000 metric tons, led by BHP’s Olympic Dam operation hitting a 10-year production high of 216,000 metric tons.

Kazakhstan entered the top 10 ranking with 740,000 metric tons, reflecting national ambitions outlined in its February 2024 Development Plan targeting 40 percent mineral production growth by 2029. KAZ Minerals’ Aktogay mine generated 228,800 metric tons for the country. Mexico rounded out the list at 700,000 metric tons, anchored by Grupo Mexico’s Buenavista del Cobre and La Caridad copper mines operations.

The Copper Reserves Picture: Where Future Supply Lives

Beyond current production, copper reserves tell another story about long-term supply security. China dominates reserves at 190 million metric tons, while Peru and Australia tie for second place with 100 million metric tons each. These reserve positions will prove critical as copper demand from electrification infrastructure accelerates in coming years.