Inventory of the world's top ten copper mine projects

To date, approximately 700 million tons of copper
have been produced worldwide, according to the United States Geological Survey (USGS).
We can imagine that this copper could be put into a cube with a side length of about 430 meters, which would be worth more than $4 trillion at today's prices, with an average of about 21 million tons of copper
mined per year.

The USGS estimates that the identified deposits are estimated to contain approximately 2.
1 billion tons of copper, while the porphyry deposits account for 1.
8 billion tons, bringing the total copper discovery to 2.
8 billion tons
.
This can be placed in
a cube with a side length of 680 meters.
Of the underground copper that has been discovered but not yet developed, only about 65% has been found in the following five countries: Chile, Australia, Peru, Mexico and the United States
.

Combined with data from Mining Intelligence, the cable network aggregates the world's top ten copper deposits currently under development and ranks them based on proven and probable reserves, a measure of economically exploitable ore in the deposit.

1.
Udokan copper mine in Russia: 15 million tons

With a copper content of about 15 million tonnes in terms of proven and probable reserves, the Udokan Copper Mine is considered the largest undeveloped copper deposit in Russia and the largest copper deposit
in the world.
It is owned
by the Baikal Mining Company of Russian billionaire Alisher Usmanov.

2.
Kamoa-Kakula copper mine in the Democratic Republic of the Congo: 11.
3 million tons

Kamoa-Kakula is a high-grade copper project with a peak target of more than 700,000 tonnes per annum
.
The first production of the first phase of the project could take place
as early as the end of 2021.
The project is a joint venture between Vancouver's Ivanhoe Mining Company, China Zijin Mining Group and the DRC government
.

3.
El Arco copper-gold mine, Mexico: 10.
8 million tons

The El Arco deposit in Baja California, Mexico, is owned
by Southern Copper, a subsidiary of the Mexican group.
The project has the potential to become a copper-gold mine with an annual capacity of 190,000 tons of copper and 105,000 ounces of gold, but it may not begin until after 2025, as the company is currently focusing on a major project
called Tia Maria.

4.
Nueva Unión copper-gold-molybdenum mine in Chile: 8.
2 million tons

Nueva Unión, located in Chile's Atacama region, is one of the
largest undeveloped copper-gold molybdenum projects in the Americas.
It is a 50/50 joint venture
between Teck and Newmont Goldcorp.
In the first five years of production, annual copper production is estimated at 224,000 tons
.

5.
Quellaveco copper mine in Peru: 7.
6 million tons

Anglo American's Quellaveco copper project is a proposed open-pit mine
located in the Moquegua region of Peru.
Quellaveco is expected to begin its first production in 2022, with an annual capacity of 300,000 tonnes
in the first decade of operation.

6.
Frieda River copper-gold mine, Papua New Guinea: 6.
3 million tonnes

The Frieda River copper mine, jointly owned by Highlands Pacific at Cobalt 27 and a Chinese company, is one of the largest copper-gold deposits in the
Asia-Pacific region.
It is estimated that the mine can produce 175,000 tons of copper and 230,000 ounces of gold
over its 33-year mine life.

7.
Agua Rica copper-gold mine, Argentina: 5.
6 million tons

The Agua Rica copper-gold project is located in the province of Catamanca in northwestern Argentina and is jointly owned
by Yamana Gold of Canada, Swiss commodity trader Glencore and Newmont Goldcorp, the world's largest gold miner.
The three companies signed an agreement this year to develop the project
using the infrastructure and facilities of existing businesses in Argentina.

8.
Wafi-Golpu copper-gold mine, Papua New Guinea: 4.
9 million tonnes

Wafi-Golpu, a joint venture operated by Australia's Newcrest Mining Company and South Africa-based Harmony Gold, is an advanced exploration project
located in Morrobe Province, Papua New Guinea.
Annual production is expected to peak in 2025 at 320,000 ounces of gold and 150,000 tonnes of copper
.

9.
Namosi copper mine, Fiji: 4.
9 million tons

Namosi is being developed by Australia's Newcrest mining company and is located in Fiji's Namosi and Naitasiri provinces
.
Current exploration work is focused on the Waisoi copper-gold project, which is currently in the pre-feasibility phase
.

10.
Galeno copper-gold mine in Peru: 3.
3 million tons

Galeno is a copper-gold project currently in the feasibility study phase, located in the northern region of Cajamarca, Peru, which is jointly owned
by China Minmetals and Jiangxi Copper.

epilogue

Outside the top ten include the Galore Creek project in Canada, as well as the Schaft Creek project in British Columbia, the Rosemont project in Arizona, and others
.

In addition, Resolution Resolution Copper, a large project in Arizona jointly owned by Rio Tinto and BHP Billiton, does not yet list any reserves, despite resources exceeding 10 million tonnes containing measured and labeled copper
.

Cobre Panama, a long-term second development project owned by Canadian copper giant First Quantum Minerals, went into commercial production in October and is now among the top 20 copper mines in the world, with a capacity of 375,000 tonnes
per year if it reaches maximum capacity.