Copper is a vital component of the global economy, and its output is increasing as many countries are investing in infrastructure. Copper is used in numerous industries; it is a common component of electrical wiring and plumbing, and is also used extensively in the manufacture of automobiles, electronics, and construction materials. As such, it comes as no surprise that the copper mining industry is an important one around the world. In this article, we look at the top 10 copper-producing companies of 2023, ranked according to their revenue figures from the previous year.
10. Grupo México
Grupo México, based out of Mexico City, is the 10th largest copper producer in the world. In 2020, the company reported a revenue of 17.5 billion MXN, which is around $816 million USD. Grupo México operates numerous mining and metallurgy plants in Mexico and is well known for its copper production, which is currently the company’s top revenue generator.
9. BHP Billiton
BHP Billiton, formerly known as BHP Billiton N.V., is a London-based mining, metals, and petroleum corporation that operates in over 80 countries. In 2020, the company reported revenue of $41.7 billion USD, making it the 9th largest copper producer in the global market. BHP Billiton mines and processes copper ore in its operations in Chile and Indonesia, and operates large copper refineries in India, Mexico, and Peru.
8. JX Nippon Mining & Metals
JX Nippon Mining & Metals is the 8th largest copper producer in the world, with a revenue of $45.2 billion USD in 2020. Headquartered in Tokyo, Japan, the company operates in countries such as Belgium, Canada, China, and Malaysia and produces copper ore, catalysts, and chemicals, among other things. It has two joint ventures with Sumitomo Metal Mining Corporation and China Minmetals Corporation respectively, which further contributes to its copper production.
7. Rio Tinto Group
Rio Tinto Group, headquartered in London, is the 7th largest copper producer in the world. In 2020, the company reported revenue of $50.5 billion USD, mainly due to its copper production activities across the world. Rio Tinto mines copper ore from its operations in the United States, Chile, Canada, Bosnia, and Mongolia. The company also produces copper goods such as jewellery and jewellery manufacturing materials.
6. Antofagasta plc
The 6th largest copper producer in the world, with a revenue of $10.7 billion USD, is Antofagasta plc. Based in London, the company operates an extensive copper mining portfolio in Chile, which accounts for most of its copper production. In addition to its copper mining, Antofagasta plc also operates in other mining sectors such as gold, silver, and molybdenum, and it has investments in transportation, water, and energy industries.
5. Freeport-McMoRan
Freeport-McMoRan, headquartered in Phoenix, Arizona is the 5th largest copper producer in the world. In 2020, the company reported a revenue of $12.8 billion USD. Freeport-McMoRan has copper operations in the United States, Central and South America, and Africa, and is known to produce copper concentrate in addition to other metals such as gold, molybdenum, and silver.
4. Glencore
Glencore, based in Baar, Switzerland is the 4th largest copper producer in the world, with revenue of $139.2 billion USD in 2020. The company produces copper in its facilities in Zambia, Australia, Peru, and the Democratic Republic of the Congo, as well as in its joint venture operations with Qatar Mining Company. Moreover, Glencore operates a copper refinery in Canada and processes copper ore into cathodes and rods used in the electrical industry.
3. China Minmetals Corporation
China Minmetals Corporation is the 3rd largest copper producer in the world, with a revenue of $173.2 billion USD in 2020. Based in Beijing, the company mines and processes copper ore across Asia, with its main sources being China, Australia, Kazakhstan, and Myanmar. In addition to copper, the company also produces other metals such as silver, aluminum, and gold.
2. Codelco
Codelco is the 2nd largest copper producer in the world, with a revenue of $24.2 billion USD in 2020. The company is based in Santiago, Chile and is notable for being the largest copper producer within Chile. It operates copper mining operations in seven other regions across the world, including countries such as Mexico, Peru, and the United States.
1. BOCOMO
Finally, BOCOMO is currently the largest copper producer in the world, with a revenue of $43.5 billion USD in 2020. Based in China, the company operates copper mines across Mongolia, Australia, and the Democratic Republic of Congo, as well as in several other countries. BOCOMO also produces copper and brass alloys, which are used in industries such as aerospace, petroleum, and automotive.
Overall, the global copper industry is on the rise as countries invest in infrastructure and the development of other industries. The top 10 copper-producing companies of 2023 have been ranked according to their revenue figures from the previous year; with BOCOMO leading the pack, followed by Codelco, China Minmetals Corporation, Glencore, Freeport-McMoRan, Antofagasta plc, Rio Tinto Group, JX Nippon Mining & Metals, BHP Billiton, and Grupo México.