Top 10 largest copper mining companies in Q2 2021 - report
(Kitco News) - Codelco was the largest copper mining company in the worldin Q2 2021 (based on attributable copper tonnes). Top 10 copper miners produced2,255 thousand tonnes of copper in Q2 2021, 3% more than a year before.
Kitco ranked thetop 10 largest copper mining companies worldwide based on their reportedattributable copper production in Q2 2021.
Production at theChilean mining giant Codelco, theworld's largest copper mining company, rose 7% year-on-year to 436thousand tonnes (incl. Codelco's stake in El Abra and Anglo American Sur) in Q22021. Higher production at Chuquicamata and El Teniente were the main driversof this growth and more than offset the decline at Radomiro Tomic.
Freeport-McMoRan is secondas the company's attributable copper production amounted to 336 thousand tonnesin Q2 2021, which is 17% more than a year ago, primarily due to the ramp-up ofunderground production at the Grasberg minerals district in Indonesia, whichcontinued to advance on schedule, as well as increased operating rates at CerroVerde.
Glencore sits third. The company's Q2 2021 own sourced copper production of 297thousand tonnes was broadly in line with Q2 2020.
BHPBilliton is fourth with 253 thousand tonnes of copper(attributable) mined in Q2 2021, a 9% decline compared to Q2 2020. The companysaid that in 2021, its Chilean assets operated with a substantial reduction intheir operational workforces as a result of the preventative measures itimplemented to mitigate the impact of COVID-19. In Q2 2021, escalating COVID-19infections in Chile led to increased pressures on Chile's health system, whichresulted in strict quarantine measures and border restrictions.
SouthernCopper is fifth. In Q2 2021, the company's mine copperproduction decreased 6% to 237 thousand tonnes. The company noted that this productiondecline was driven by a drop in ore grades due to stripping and maintenanceworks that were rescheduled to this year after having been postponed in 2020due the COVID 19 pandemic.
FirstQuantum sits sixth. The company's total copper productionfor the quarter was 200 thousand tonnes, 18% higher than in the same period in2020, with the increase attributable to near record quarterly production atCobre Panama, which delivered another strong quarterly result with a nearrecord 82 thousand tonnes of copper produced, and achieved further quarterlymilestones such as records in crushed tonnes, milled tonnes, mill availabilityand contained copper in concentrate shipped.
Thecomplete list is on the chart.
Top 10 largest copper mining companies in Q2 2021.
For Kitco News
Follow kitconewsnow
vbasov@kitco.comwww.kitco.com