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Top 10 largest copper mining companies in Q3 2022 - report

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(Kitco News) - Kitco ranked the top 10 largest copper mining companies worldwide based on their reported attributable copper production in Q3 2022.

Freeport-McMoRan was the world’s largest copper mining company in Q3 2022 as its attributable copper production amounted to 382 thousand tonnes, which is 5% more than a year ago, primarily reflecting strong production performance and the timing of shipments at Grasberg.

Production at the Chilean mining giant Codelco, the world’s second largest copper mining company in third quarter, declined 15% year-on-year to 352 thousand tonnes (incl. Codelco’s stake in El Abra and Anglo American Sur) in Q3 2022. The company said that its copper production was affected by a lower grade and lower copper recovery at the Ministro Hales mine, as well as at Chuquicamata and El Teniente divisions.

BHP is third with 278 thousand tonnes of copper (attributable) mined in Q3 2022, up 12% compared to Q3 2021, primarily due to strong concentrator throughput at Escondida and record quarterly anode production at Olympic Dam.

Glencore sits fourth. The company’s Q3 2022 own sourced copper production of 260 thousand tonnes was 13% lower than in Q3 2021 due to ongoing geotechnical constraints at Katanga, the basis change arising from the sale of Ernest Henry in January 2022, Collahuasi mine sequencing and lower copper units produced within Glencore’s zinc business.

Southern Copper is fifth. The company’s mined copper production in the third quarter of 2022 fell by 6% y-o-y to 231 ktonnes. The decrease in production at the company’s Peruvian operations (-11.8%) and at La Caridad mine (-11.3%) was due to lower ore grades and recoveries.

China’s Zijin Mining ranked sixth with its mine-produced copper of 222 thousand tonnes reported for Q3 2022. The company increased its quarterly copper output following the successful production commencement of key projects such as the Upper Zone of the Cukaru Peki copper and gold mine in Serbia, the Kamoa-Kakula copper mine and the Julong copper mine in Tibet.

The complete list is on the chart.

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