In 2019, BHP Billiton overtook Chilean copper to become the world's largest copper producer

The Chilean Copper Council announced that BHP Billiton overtook the national copper company Codelco to become the world's largest copper miner
by volume following a decline in production.

Codelco's production fell 5.
6 percent last year to around 100,000 tonnes
due to a decline in grades.
Overall, Codelco, nationalised in the early 1970s, produced 1.
706 million mt of copper in 2019, the lowest level since 2008, when production was 1.
55 million mt
.

At the time, the huge Ministro Hales mine, which produces between 180,000 and 200,000 tons of copper per year
, had not yet begun operations.

Last month, BHP Billiton (NYSE:BHP), the world's number one mining company, reported strong performance in its copper business in the six months to the end of December, including Escondida in Chile, the world's largest copper mine
.

BHP Billiton's production in the first six months of this financial year increased by 7% year-on-year to 885,000 tonnes, of which Escondida contributed more than
600,000 tonnes.

In the six months to the end of June 2019, Melbourne-based BHP Billiton produced 864,000 tonnes, bringing the calendar year production to 1.
749 million tonnes
.

For now, BHP Billiton is keeping its FY2020 guidance price unchanged at between 1.
705 million mt and 1.
802 million mt
.

So despite spending $2.
5 billion to expand its Spence mine in Chile, BHP is likely to maintain that position
for some time.

Another major copper producer, Freeport-McMoran, is expected to resume full production
in 2022 after transitioning to underground mining at Indonesia's Grasberg mine.
The company produced 1.
47 million tons of copper
in 2019.

In addition, Chile's national copper company Codelco itself is pursuing a 10-year, $39 billion investment program aimed at opening up new projects and overhauling old mines, so it is likely to catch
up.