Friday, June 9, 2023

5 countries with world’s largest copper reserves in 2022

According to United States Geological Survey (USGS) estimates, the five countries with the world’s largest copper reserves in 2022 were Chile, Australia, Peru, Russia and Mexico.

Southern Copper Corporation reports that copper is a critical component of the global infrastructure chain.

The third most widely used metal after iron and aluminum, copper has unique chemical and physical properties, such as high ductility, malleability, thermal and electrical conductivity, and corrosion resistance.

As a result, it is considered a premium material for use in electrical and electronic products, including power generation and transmission components, which account for nearly three-quarters of global copper use, and for telecommunications, building construction, transportation, and industrial machinery.

Copper is also an important metal in non-electrical applications such as plumbing and roofing and is used in many industrial and consumer applications, alloyed with zinc to make brass.

Copper stock

After Chile (190 million tonnes), the largest reserves of copper in the world are in Australia (97 million tonnes), Peru (81 million tonnes), Russia (62 million tonnes) and Mexico (53 million tonnes).

In 2022, the recoverable copper content of US mine production is estimated at 1.3 million tons, a 6% increase over 2021, and a value of approximately $11 billion, down 6% from $11.7 billion in 2021.

Arizona was the main copper producing state and represented about 70% of the national production.

In addition, copper was mined in Michigan, Missouri, Montana, Nevada, New Mexico, and Utah.

Copper was recovered or processed at 25 mines (17 of which account for more than 99% of mine production), 2 primary smelters, 2 electrolytic refineries and 14 electrowinning facilities.

An additional primary smelter and electrolytic refinery have been closed indefinitely since October 2019, and a new secondary smelter was in the process of being commissioned in September.

Refined copper and scrap were consumed by approximately 30 brass mills, 14 wire rod mills, and 500 miscellaneous foundries and manufacturers.

Copper and copper alloy products are used in building construction (46%), electrical and electronic products (21%), transportation equipment (16%), consumer and general products (10%), and machinery and equipment industrial (7%). it was done.

Nation World News Desk
Nation World News Desk
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