Copper has become a hot topic because of its role in the transition to green energy and its need for urbanization. However, the lack of long-term future supplies worried experts.
The term “copper peak” was coined because some experts believe that copper reserves may be diminishing; therefore, it is prudent to know the main copper reserves by country when considering investing in the mining industry.
Copper is one of the most important engineering metals and its production plays a crucial role in various industrial applications, from electronics to construction.
Copper Reserves by Country
Chile
- Copper Reserves: 190 million metric tons (MT)
Peru
- Copper Reserves: 120 million MT
Australia
- Copper Reserves: 100 million MT
Democratic Republic of the Congo (DRC)
- Copper Reserves: 80 million MT
Russia
- Copper Reserves: 80 million MT
1.
Chile
Chile has the largest copper reserves of all countries, with 190 million metric tons (MT) in 2023. Its reserves guarantee copper production for about the next 100 years at the current extraction rate.
2.
Peru
Peru holds 12% of the world’s copper reserves, with 120 million MT. In 2023, the country maintained its position as the second copper producer (equated with the DRC), with a domestic copper production of 2.6 million MT
.
3.
Australia
Australia has the third largest number of copper reserves, with about 100 million MT, equal to 10% of global reserves. However, its production is much lower than the first two countries, with 810,000 MT extracted in 2023
.
4. Democratic Republic of the Congo (DRC)
The DRC has seen its copper reserves increase dramatically in recent years, reaching a level with Russia in 2023. One of the main copper assets in the DRC is Ivanhoe Mines’ Kamoa-Kakula project, a joint venture with Zijin
Mining Group.
5.
Russia
Although not particularly known for its copper production, Russia is one of the leading global competitors in terms of copper reserves. Its reserves are estimated at 80 million MT, but production in 2024 was low, reaching only 910,000
MT.
In summary, these countries represent the main holders of copper reserves in the world. The availability of these resources plays a crucial role in the global economy and in the supply of raw materials for many industries.
