Global Copper Supply Map 2024: Who Are the Biggest Copper Producers?

As the world pivots toward electrification and renewable energy, copper has become one of the most sought-after commodities. With energy transition demanding massive quantities of copper for power grids, electric vehicles, and renewable infrastructure, the biggest copper producers worldwide are facing unprecedented pressure to ramp up output while managing aging mining assets and supply chain complexities.

In 2024, global copper production reached approximately 23 million metric tons according to the US Geological Survey (USGS). However, beneath these headline figures lies a shifting landscape. Copper prices hit an all-time high above US$5 per pound in May 2024, driven by tightening supplies and surging demand. Yet, despite this bullish backdrop, demand from China—traditionally the world’s largest copper consumer—has remained surprisingly subdued as the country grapples with economic challenges. Over the coming years, analysts forecast that the copper market will slip into supply deficits, a dynamic that could provide tailwinds for both prices and mining company profitability.

For investors tracking the commodity sector, understanding which countries are the biggest copper producers and their production trajectories is essential. Here’s an overview of how the world’s leading copper-producing nations are shaping global supply.

Tier 1: Dominant Producers Leading Global Output

Chile: The Uncontested Leader

Chile cemented its position as the world’s biggest copper producer in 2024, extracting 5.3 million metric tons of copper—roughly 23% of global output. The country’s dominance stems from its vast geological resources and the presence of world-class mining operations run by state-owned Codelco, Anglo American, Glencore, and Antofagasta.

The crown jewel of Chilean copper mining is BHP’s Escondida complex, the world’s largest copper mine. With annual production in the 2 million metric ton range, Escondida exemplifies the scale of Chile’s operations. BHP holds a 57.5% stake in the operation, Rio Tinto owns 30%, and Jeco holds the remainder. In 2024, BHP’s share of Escondida production reached 1.13 million metric tons.

Looking ahead, Chilean copper production is poised for a significant rebound. S&P Global projects that Chile’s output will surge to 6 million metric tons in 2025 as newly developed mines ramp up production, further solidifying its position among the biggest copper producers globally.

Democratic Republic of Congo: The Surprise Challenger

The Democratic Republic of Congo (DRC) has emerged as the second-largest among the biggest copper producers, yielding 3.3 million metric tons in 2024. This represents a dramatic acceleration, with output climbing from 2.93 million metric tons just one year prior.

The DRC’s ascent is largely attributable to the ramp-up of Ivanhoe Mines’ Kamoa-Kakula project, developed in partnership with Zijin Mining Group. Phase 3 of Kamoa-Kakula achieved commercial production in August 2024, producing 437,061 metric tons of copper during the year—up from 393,551 metric tons in 2023. Management guidance suggests further production increases to between 520,000 and 580,000 metric tons in 2025, underscoring the project’s potential to further reshape global copper supply dynamics.

Peru: Holding Steady Despite Headwinds

Peru maintained its position as the third-largest copper producer with 2.6 million metric tons in 2024, though output declined by 160,000 metric tons year-over-year. This contraction was primarily driven by a 3.7% drop at Freeport McMoRan’s Cerro Verde—Peru’s largest copper mine, which produced 1.94 million metric tons of copper concentrate in 2023.

Freeport attributed the decline to lower volumes of stockpiled ore and maintenance-related reductions in milling rates. Beyond Cerro Verde, significant production comes from Anglo American’s Quellaveco operation and Southern Copper’s Tia Maria project. The majority of Peru’s copper exports flow to China and Japan, with secondary destinations including South Korea and Germany.

Tier 2: Emerging and Stabilizing Producers

China: Refining Dominance Amid Modest Mine Output

China’s story differs markedly from its global reputation as the world’s copper consumer. While China’s primary copper production from mines reached only 1.8 million metric tons in 2024—a modest output compared to Chile or the DRC—the country is the undisputed leader in refined copper processing.

Chinese refineries processed 12 million metric tons of refined copper in 2024, representing over 44% of global refined copper production. This figure dwarfs the refined output of Chile, the second-largest refiner. Additionally, China controls the world’s largest copper reserves, holding approximately 190 million metric tons of identified resources.

Within China’s mining sector, Zijin Mining Group has risen to prominence following its acquisition of majority control in the Qulong copper-molybdenum-silver-gold mine in Tibet during 2024. Qulong, now China’s largest copper mine, produced an estimated 366 million pounds of copper in 2024, up from 340 million pounds in 2023, as Zijin works toward full operational consolidation.

Indonesia and the United States: Narrowing the Gap

Indonesia leapfrogged past the United States and Russia in 2024, securing fifth place among the biggest copper producers with 1.1 million metric tons. The country’s output has expanded steadily, rising from 907,000 metric tons in 2023 and just 731,000 metric tons in 2021.

Freeport McMoRan’s Grasberg complex anchors Indonesian copper production with 1.66 billion pounds in 2023. However, PT Amman Mineral’s Batu Hijau operation is poised for a significant leap. After modest output of 542 million pounds of copper concentrate in 2023, production is forecast to surge to 1.84 billion pounds in 2024 as the mine processes high-grade ore from Phase 7 operations. To capitalize on this expansion, Amman Minerals commissioned a dedicated smelting facility in mid-2024 capable of processing 900,000 metric tons of copper concentrate annually into 222,000 metric tons of refined copper cathodes.

The United States, meanwhile, maintained production at 1.1 million metric tons in 2024, generating a near-tie with Indonesia. Arizona dominates U.S. copper mining, accounting for 70% of domestic supply across 17 major mines collectively responsible for 99% of national output. Freeport McMoRan’s Morenci mine—a joint venture with Sumitomo—leads American production, yielding 700 million pounds of copper metal in 2024 and holding proven and probable reserves of 12.63 million tons. Secondary operations at Safford and Sierrita contributed 249 million metric tons and 165 million metric tons respectively.

Tier 3: Rising and Consolidating Producers

Russia: Siberian Expansion Underway

Russia’s copper output jumped to 930,000 metric tons in 2024, a meaningful increase from 890,000 metric tons the prior year. The primary catalyst for this growth is Udokan Copper’s newly operational Udokan mine in Siberia, which began Phase 1 production despite experiencing multiple fires at year-end 2023.

The mine is expected to produce up to 135,000 metric tons of copper in 2024, with output scaling to 450,000 metric tons once Phase 2 comes online in 2028—a trajectory that could reshape Russia’s role among the biggest copper producers.

Australia: Strategic Reserves and Stable Output

Australia maintained production at approximately 800,000 metric tons in 2024, reflecting modest growth from 778,000 metric tons in 2023. BHP’s Olympic Dam mine in South Australia reached a 10-year production high of 216,000 metric tons during the year.

While Australia’s current production ranks lower globally, the country punches above its weight in reserve rankings. Australia holds 100 million metric tons of identified copper reserves, tied with Peru for the second-largest reserve base worldwide, trailing only China’s 190 million metric tons. This reserve position suggests Australia’s potential to expand production in future years.

Kazakhstan: Entering the Top 10 With Momentum

Kazakhstan entered the top 10 copper producers list in 2024 with 740,000 metric tons, surpassing Mexico and Zambia despite holding production flat year-over-year. The nation’s output has grown substantially from just 510,000 metric tons in 2021.

Supporting this growth trajectory, Kazakhstan’s government released a National Development Plan in February 2024 targeting a 40% increase in mineral production by 2029 through enhanced exploration, project co-financing, and investment tax incentives. KAZ Minerals, a leading private mining company, operates the Aktogay mine, which produced 228,800 metric tons of copper in 2024, though slightly down from 252,400 metric tons in 2023.

Mexico: Steady Contribution to Global Supply

Mexico rounded out the top 10 biggest copper producers with 700,000 metric tons in 2024, virtually unchanged from 2023’s output of 699,000 metric tons. Grupo Mexico owns both the country’s largest and second-largest copper operations.

Buenavista del Cobre in Sonora is Mexico’s flagship mine, producing 725 million pounds of copper concentrate and 193 million pounds of refined copper cathode in 2023. La Caridad, Grupo Mexico’s secondary operation, contributed 387,000 metric tons of copper concentrate and 51 million pounds of copper cathode in the same period.

Looking Ahead: Supply Deficits and Strategic Implications

The biggest copper producers worldwide are operating within a framework of structural supply tightness. Many legacy mining operations continue to age, while new mine development faces lengthy permitting timelines and capital constraints. Simultaneously, the global energy transition is expected to dramatically amplify copper demand, with electrification, renewable energy infrastructure, and electric vehicle production all requiring substantial tonnages.

This supply-demand imbalance is forecast to intensify over the next several years, potentially creating supply deficits that could provide significant price support and improve profitability for the biggest copper producers and their investors. Understanding the geographic and operational diversification of global copper production is therefore essential for anyone tracking commodity markets or evaluating mining sector investments.