The world copper factbook 2012

The World Copper Factbook 2012

International Copper Study Group 8

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010

World Copper Mine Production, 1900-2011 (thousand metric tonnes)

Source: ICSG

Concentrates SX-EW

Since 1900, when world production was less than 500 thousand tonnes copper, world copper mine production has grown by around 3% per year to reach over 16 million tonnes in 2011. SX-EW production, virtually non-existent before the 1960s, reached nearly 3.4 million tonnes copper in 2011.

Copper Mine Production

Jose Tapia



0

1000

2000

3000

4000

5000

6000

7000

Africa Asia Europe Latin America North America

Oceania

Copper Mine Production by Region, 1960, 1980 & 2011p (Thousand metric tonnes)

Source: ICSG

1960 1980 2011p

From less than 750 thousand tonnes copper in 1960, copper mine production in Latin America surged to around 7 million tonnes in 2011.

Copper Mine Production by Region, 1960, 1980 & 2011p* (Thousand metric tonnes copper)

Source: ICSG

*preliminary data



0 1,000 2,000 3,000 4,000 5,000

BulgariaArgentinaMongolia

LaosPapua New Guinea

BrazilIran

KazakhstanPolandCongoMexico

IndonesiaCanadaZambia

Russian Fed.Australia

United StatesPeru

ChinaChile

Copper Mine Production by Country: Top 20 Countries in 2011p (Thousand metric tonnes)

Source: ICSG

Chile accounted for over one-third of world copper mine production in 2011 with mine output of nearly 5.3 million tones copper.



-2,000 4,000 6,000 8,000

10,000 12,000 14,000 16,000 18,000 20,000 22,000 24,000 26,000 28,000

1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

Trends in Copper Mining Capacity, 1995-2015Thousand metric tonnes

Source: ICSG

Concentrates SX-EW Total Mines

Copper mining capacity is estimated to reach 26.2 million tonnes copper

in 2015, with 22% being SX-EW production.



Rank Mine Country Owner(s) Source Capacity1 Escondida Chile BHP Billiton (57.5%), Rio Tinto Corp. (30%), Japan Escondida (12.5%) Concs & SX-EW 1,250

2Codelco Norte

Chile Codelco Concs & SX-EW 920

3 Grasberg Indonesia P.T. Freeport Indonesia Co. (PT-FI), Rio Tinto Concentrates 750

4 Collahuasi Chile Anglo American (44%), Xstrata plc (44%), Mitsui + Nippon (12%) Concs & SX-EW 520

5 Los Pelambres Chile Antofagasta Plc (60%), Nippon Mining (25%), Mitsubishi Materials (15%) Concentrates 470

6 El Teniente Chile Codelco Concs & SX-EW 434

7 Taimyr Peninsula (Norilsk/ Talnakh Mills)

Russia Norilsk Nickel Concentrates 430

8 Morenci United States Freeport-McMoRan Inc 85%, 15% affiliates of Sumitomo Corporation Concs & SX-EW 420

9 Antamina PeruBHP Billiton (33.75%), Teck (22.5%), Xstrata plc (33.75%), Mitsubishi Corp. (10%) Concentrates 370

10 Andina Chile Codelco Concentrates 300

11 Bingham Canyon United States Kennecott Concentrates 280

12 Batu Hijau Indonesia PT Pukuafu 20%, Newmont 41.5%, Sumitomo Corp., Sumitomo Metal Mining & Mitsubishi Materials 31.5%, PT Multi Daerah Bersaing 7%

Concentrates 250

12 Kansanshi Zambia First Quantum Minerals Ltd (80%), ZCCM (20%) Concs & SX-EW 250

14 Los Bronces Chile Anglo Amercian 75.5%, Mitsubishi Corp. 24.5% Concs & SX-EW 246

15 Zhezkazgan Complex Kazakhstan Kazakhmys (Samsung) Concentrates 230

16 Olympic Dam Australia BHP Billiton Concs & SX-EW 225

17 Rudna Poland KGHM Polska Miedz S.A. Concentrates 215

18 Sarcheshmeh Iran National Iranian Copper Industry Co. Concs & SX-EW 204

19 Spence Chile BHP Billiton SX-EW 200

20 La Caridad Mexico Mexicana de Cobre S. A. (Grupo Mexico) Concs & SX-EW 195

(includes Chuquicamata, Radomiro Tomic, Mina Ministro Hales project)

Top 20 Copper Mines by Capacity, 2011 Thousand metric tones copper

Source: ICSG



Constraints on Copper Supply With copper concentrate in strong demand, there has been growing interest in understanding the obstacles that can prevent copper mine supply from coming on-stream. During 2008-2009, the ICSG Secretariat conducted a project on Constraints on New Copper Supply Coming On Stream, with the final project report completed in October 2009. Below are some of the operational and financial constraints identified from the study. For more information about ICSG research related to constraints on copper supply, please contact the ICSG Secretariat at [email protected]

Falling Ore Grades: a serious issue in developed copper areas such as the USA and Chile

Project finance: cost of capital is a central factor. High interest rates may reduce supply significantly

Capital cost overruns: in the past. underestimations of US dollar inflation was source of many cost overruns

Tax & investment regimes: recent research indicates these are less important than geological endowments

Water supply: a critical issue in dry mining districts

Energy: coal is the fuel chosen to power main copper mines and processes… climate change may increase costs.

Resource nationalism: It has become a priority for certain governments to develop their mineral resources that have not been exploited until now. While willing to develop their natural resources, countries might be seeking to extract strong revenue flows from them. It will be important to balance royalty/taxation levels with the need to encourage capital investment to develop their rising industries.

Shipping costs: not an issue for copper... for now Sulphuric acid supply and price: 16% cost factor for SX-EW

projects Skilled labor: open labor markets would help address this

constraint Labor strikes: tend to increase when refined prices are high and

GDP is growing faster, but tend to be longer and less frequent in cool economic times and also when copper prices are down

High domestic costs if there is “dutch disease” (resulting in higher exchange rates due in part to strong exports)

Rate between imported inputs and domestic input costs affected by the currency strength of the producer

Market power/concentration: risks have moved to the import demand side versus export supply side in recent years

Peace and security is also a key factor

mailto:[email protected]



6,000

8,500

11,000

13,500

16,000

1976 1981 1986 1991 1996 2001 2006 2011

World Copper Smelter Production, 1976-2011p Thousand metric tonnes

Source: ICSG

Primary Feed Secondary Feed

Copper Smelter Production

Smelting is the pyrometallurgical process used to produce copper metal. In 2011, world copper smelter production reached 15.8 million tonnes copper. Recently, the trend to recover copper directly from ores through leaching processes has been on the increase. Primary smelters use mine concentrates as their main source of feed (although some use copper scrap as well). Secondary copper smelters use copper scrap as their feed.



-

5,000

10,000

15,000

20,000

1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

Trends in Copper Smelting Capacity, 1995-2015 Thousand metric tonnes

Source: ICSG

Flash/Continuous Reverb/Blast/Rotary Modified Reverb/Convert Electric Low Grade EW Unkown



0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Copper Smelter Production by Region, 1990-2011pThousand metric tonnes

Source: ICSG

Africa America Asia Europe Oceania

Asia’s share of world copper smelter output jumped from 27% in 1990 to 55% in 2011 as smelter production in China expanded rapidly.



0 1,000 2,000 3,000 4,000 5,000

SwedenBrazilSpain

IranIndonesia

BulgariaPeru

CanadaKazakhstan

AustraliaZambiaPoland

Korean Rep.United States

GermanyIndia

Russian Fed.Chile

JapanChina

Copper Smelter Production by Country: Top 20 Countries in 2011p Thousand metric tonnes

Source: ICSG

In 2011, China accounted for around 30% of world copper smelter output, followed by Japan (9%), Chile (9%) and the Russian Federation (5%).



Rank Smelter Country Operator/Owner(s) Process Capacity

1 Guixi (smelter) China Jiangxi Copper Corp. Outokumpu Flash 900

2 Birla Copper (Dahej) India Birla Group Outokumpu Flash, Ausmelt, Mitsubishi Continuous 500

3 Codelco Norte (smelter) Chile Codelco Outokumpu/ Teniente Converter 450

3 Saganoseki/ Ooita (smelter) Japan Pan Pacific Copper Co. Ltd Outokumpu Flash 450

3 Hamburg Germany Aurubis Outokumpu, Contimelt, Electric 450

3 Besshi/ Ehime (Toyo) Japan Sumitomo Metal Mining Co. Ltd. Outokumpu Flash 450

3 Saganoseki/ Oita (smelter) Japan Pan Pacific Copper Co. Ltd Outokumpu Flash 450

8 El Teniente (Caletones) Chile Codelco Chile Reverberatory/ Teniente Conv. 400

8 Jinchuan (smelter) China Jinchuan Non- Ferrous Metal Co. Reverberatory/ Kaldo Conv. 400

8 Norilsk (Nikelevy, Medny) Russia Norilsk G-M Reverb, Electric, Vanyukov 400

11 Sterlite Smelter (Tuticorin) India Vedanta Isasmelt Process 380

12 Ilo Smelter Peru Southern Copper Corp. (Grupo Mexico 75.1%) Isasmelt Process 360

13 Altonorte (La Negra) Chile Xstrata plc Noranda Continuous 350

13 Jinlong (Tongdu) China Tongling Nonferrous Metals Corp. (57.4%), Sumitomo (35%), Pingguo Aluminium Co. Flash Smelter 350

13 Yunnan China Yunnan Copper Industry Group (Local Government) Isasmelt Process 350

16 Onahama/ Fukushima JapanMitsubishi Materials Corp. (49.29%), Dowa Metals & Mining Co. Ltd.(31.15%), Furukawa Metals & Resources Co. Ltd. (12.67%)

Reverberatory 322

17 Onsan II Korean Republic LS-Nikko Co. (LS, Nippon Mining) Mitsubishi Continuous 320

17 Huelva Spain Atlantic Copper S.A. (Freeport McMoran) Outokumpu Flash 320

17 Garfield (smelter) United States Kennecott (Rio Tinto) Kennecott/ Outokumpu 320

20 Naoshima/ Kagawa (smelter) Japan Mitsubishi Materials Corp. Mitsubishi Continuous 306

Top 20 Copper Smelters by Capacity, 2011

Thousand metric tones copper Source: ICSG



0

2,500

5,000

7,500

10,000

12,500

15,000

17,500

20,000

1960 1963 1966 1969 1972 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011

World Refined Copper Production, 1960-2011p Thousand metric tonnes

Source: ICSG

Refinery Primary Refinery Secondary Refinery SX-EW

Refined Copper Production

With the emergence of solvent extraction-electrowinning (SX-EW) technology, refined copper produced from leaching ores has

been on the rise, increasing from less than 1% of world refined copper production in the late 1960’s to 17% of world output in 2011.



-2,000 4,000 6,000 8,000

10,000 12,000 14,000 16,000 18,000 20,000 22,000 24,000 26,000 28,000

1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

Trends in Refined Capacity, 1995-2015 Thousand metric tonnes

Source: ICSG

Electrolytic Electrowinning Fire Refining

This chart shows world copper refinery capacity by refining process. The ratio between production and capacity is called the capacity utilization rate. The world refinery capacity utilization rate was around 80% in 2011.



0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Refined Copper Production by Region, 1990-2011pThousand metric tonnes

Source: ICSG

Africa America Asia Europe Oceania

Region with the highest output of refined copper in 1990: the Americas (4,250 kt), followed by Europe (3,004 kt)

Leading region in the world in 2011: Asia (9,024 kt) as compared to 2,500kt in 1990.



0 1,000 2,000 3,000 4,000 5,000

IranCanada

IndonesiaKazakhstan

CongoMexico

SpainPeru

BelgiumAustralia

ZambiaPoland

Korean Rep.India

GermanyRussian Fed.United States

JapanChile

China

Refined Copper Production by Country: Top 20 Countries in 2011pThousand metric tonnes

Source: ICSG



Rank Refinery Country Owner(s) Process Capacity

1 Guixi China Jiangxi Copper Corporation Electrolytic 900

2 Chuquicamata Refinery Chile Codelco Electrolytic 600

3 Yunnan Copper China Yunnan Copper Industry Group (64.8%) Electrolytic 500

3 Birla India Birla Group Hidalco Electrolytic 500

3 Jinchuan China Jinchuan Non Ferrous Co. Electrolytic 500

6 Codelco Norte (SX-EW) Chile Codelco Electrowinning 470

7 Toyo/Niihama (Besshi) Japan Sumitomo Metal Mining Co. Ltd. Electrolytic 450

7 Amarillo United States Grupo Mexico Electrolytic 450

9 El Paso (refinery) United States Freeport-McMoRan Copper & Gold Inc. Electrolytic 415

10 Las Ventanas Chile Codelco Electrolytic 400

10 Jinlong (Tongdu) (refinery) ChinaTongling NonFerrous Metal Corp. 52 %, Sharpline International 13%, Sumitomo Corp. 7.5%, Itochu Corp. 7.5% Electrolytic 400

12 Hamburg (refinery) Germany Aurubis Electrolytic 395

13 Sterlite Refinery India Vedanta Electrolytic 380

13 Pyshma Refinery Russia Uralelectromed (Urals Mining & Metallurgical Co.) Electrolytic 380

15 CCR Refinery (Montreal) Canada Xstrata plc Electrolytic 370

16 Ilo Copper Refinery Peru Southern Copper Corp. Electrolytic 360

16 Morenci (SX-EW) United States Freeport-McMoRan Copper & Gold Inc./Sumitomo Electrowinning 350

16 Escondida (SX-EW) Chile BHP Billiton (57.5%), Rio Tinto Corp. (30%), Japan Escondida (12.5%) Electrowinning 350

16 Zhangjiagang China Tongling Non Ferrous Co. Electrolytic 350

20 Olen Belgium Aurubis Electrolytic 345

20 Norilsk Refinery Russia Norilsk Nickel Electrolytic 330

Top 20 Copper Refineries by Capacity, 2011 Thousand metric tones copper

Source: ICSG



Semis Production

Semis fabricators process refinery shapes such as cathodes, wire bar, ingot, billet slab and cake into semi-finished copper and copper alloy products using both unwrought copper materials and direct melt scrap as raw material feed. Semis fabricators are considered to be the “first users” of refined copper and include ingot makers, master alloy plants, wire rod plants, brass mills, alloy wire mills, foundries and foil mills.

0

3,000

6,000

9,000

12,000

15,000

18,000

21,000

24,000

27,000

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Copper and Copper Alloy and Casting Production, 1980-2010 Thousand metric tonnes

Source: ICSG

Copper Semis Copper Alloy Semis Not specified (1) Foundry Castings(1) Includes all semis production of not specified composition. China data included here since 2009 as no breakdown available



0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Africa Asia Europe North America Oceania South America

Copper and Copper Alloy Semis and Casting Production by Region, 1980 & 2010Thousand metric tonnes

Source: ICSG

19802010

Asia accounted for 66% of semis production in 2010, or more than 15.2 million metric tonnes, up from 22% in 1980.



Africa1%

Russian Fed. & Central Asia

5%

Middle East5%

South Asia & Oceania

7%

Americas14%

North Asia (ex-China)15%

EU27, Norway & Switzerland

21%

China32%

Semis Production Capacity by Region, 2011 (%)Source: ICSG

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2010 2011

Semis Production Capacity by Product, 2010 vs 2011 (kt gross weight)

Source: ICSG

Wire Rod PSS RBSTubes Unclassified Alloy WireIngots Foil Powder

In 2011, China accounted for the largest share of world semis capacity production (32%) and the

largest number of semis plants (499).

Wire rod plants are estimated to have accounted for just under half of all first use capacity in 2011,

or nearly 21 Mt.

Copper & Copper Alloy Semis Capacity by Region & Product



0 2,000 4,000 6,000 8,000 10,000 12,000 14,000Iran

PolandEgypt

IndonesiaUnited …

ThailandSpain

BelgiumBrazil

FranceTurkeyRussiaTaiwan

IndiaItaly

KoreaGermany

JapanUSA

China

Copper and Copper Alloy Semis Production Capacity by Country: Top 20 Countries, 2011

Thousand metric tonnes Source: ICSG


Major International Trade Flows of Copper Ores and Concentrates1

1Figure is intended to illustrate trade flows but not actual trade routes.

Major Exporters of Copper Ores and Concentrates, 2010

1. Chile 2. Peru 3. Indonesia 4. Australia 5. Canada 6. Brazil 7. Argentina 8. Papua New

Guinea 9. Mongolia 10. Kazakhstan

Major Importers of Copper Ores and Concentrates, 2010

1. China 2. Japan 3. India 4. Korean Rep. 5. Spain 6. Germany 7. Philippines 8. Bulgaria 9. Brazil 10. Finland

Major International Trade Flows of Copper Ores and Concentrates1



Major International Trade of Copper Blister and Anode1

1Figure is intended to illustrate trade flows but not actual trade routes.

Major Exporters of Copper Blister and Anode, 2010

1. Chile 2. Netherlands 3. Belgium 4. Finland 5. Spain 6. Bulgaria 7. Canada 8. Peru 9. USA 10. Armenia

Major Importers of Copper Blister and Anode, 2010

1. China 2. Belgium 3. Netherlands 4. Australia 5. Canada 6. Mexico 7. Korean Rep. 8. Austria 9. USA 10. Germany

Major International Trade Flows of Copper Blister and Anode1



North America

10% Latin America

6%

Asia 62%

Europe22%

Building Construction

32%

Infrastructure14%

Equipment54%

Major Uses of Copper: Usage by Region and End Use Sector, 2010 Basis: copper content, thousand metric tonnes

Source: International Copper Association

Date post:	16-May-2015
Category:	Technology
Upload:	presentacionesvantaz
View:	6,652 times
Download:	4 times

The world copper factbook 2012

Technology