Copper Production Statistics 2014

The World Copper Factbook 2014
AboutICSG
ThecurrentmembersofICSGare:
TheInternationalCopperStudyGroup(ICSG)wasformallyestablished
as an autonomous intergovernmental organization on 23 January
1992,followingaseriesofAdHocmeetingssponsoredbytheUnited
Nations (UNCTAD) in 1986 and 1987 to review the world situation of
copperanddiscusstheneedforsuchabody.ICSGservestoincrease
copper market transparency and promote international discussions
andcooperationonissuesrelatedtocopper.
In order to fulfill its mandate, the Study Group has three main
objectives:
Increase market transparency by promoting an exchange of

informationonproduction,consumption,stocks,trade,andprices
of copper, by forecasting production and consumption, and by
assessing the present and future capacities of copper mines,
plants,smeltersandrefineries.
Promoteinternationalcooperationonmattersrelatedtocopper,
such as health and the environment, research, technology
transfer,regulationsandtrade.
Provideaglobalforumwhereindustryandgovernmentscanmeet
and discuss common problems/objectives. The ICSG is the only
intergovernmentforumsolelydedicatedtocopper.
Australia
Japan
Belgium
Chile
China
European
Union
Finland
France
Germany
Greece
India
Luxembourg
Mexico
Peru
Iran
UnitedStates
Italy
Zambia
Poland
Portugal
RussianFederation
Serbia
Spain
Sweden
As part of its mandate to provide a global forum where industry and

governmentscanmeetanddiscusscommonproblemsandobjectives,
ICSGmeetingsareheldtwiceperyear,typicallyintheSpringandFall
at ICSG Headquarters in Lisbon, Portugal. The meetings of the Study
Groupareopentogovernmentmembers,theirindustryadvisorsand
invitedobservers.
International Copper Study Group
ii
ICSGOfficersandSecretariat
INTERNATIONAL COPPER STUDY GROUP OFFICERS FOR 2014
Chairman
Mr Salim Bhabhrawala (U.S.A.)
Vice-Chairman
Mr Bian Gang (China)
STATISTICAL COMMITTEE
Chairman
Mr Daniel Edelstein (U.S.A.)
Vice-Chairman
Ms Marion Finney (Aurubis)
Vice-Chairman
Mr Li Yusheng (China)
STANDING COMMITTEE
INDUSTRY ADVISORY PANEL
Chairman
Mr Henrique Santos (Portugal)
Vice-Chairman
Vacant
Finance Committee Chairman
Mr Henrique Santos (Portugal)
Chairman
Mr Mark Loveitt (IWCC)
SECRETARIAT
ENVIRONMENTAL AND ECONOMIC COMMITTEE
Secretary-General
Mr Don Smale
Chairman
Mr Piotr Krawczyk (Poland)
Director of Market Research and Statistics
Ms Ana Rebelo
Vice-Chairman
Mr K D Diwan (India)
Director of Economics and Environment
Mr Carlos Risopatron
Manager of Statistical Analysis
Mr Shairaz Ahmed
Secretary
Ms Fatima Cascalho
Contacts:
InternationalCopperStudyGroup
RuaAlmiranteBarroso,386
1000013Lisbon,Portugal
Tel:+351213513870
Fax:+351213524035
email:mail@icsg.org
website:www.icsg.org
AcknowledgementsandCopyright:
ICSG would like to thank the International Wrought Copper Council, the
International Copper Association, the Copper Development Association,
the European Copper Institute, the U.S. Geological Survey, the U.S.
National Park Service, the British Museum and Mr Luis Hernn Herreros
InfantefortheircontributionstotheFactbook.
TheInternationalCopperStudyGroup'sWorldCopperFactbook2014is
publishedbytheICSG.
ii
ICSGPublications
COPPERBULLETIN(monthly).TheICSGCopperBulletinincludesannual
andmonthlystatisticsoncopperandcopperproducts,theirproduction,
usage and trade by country, as well as stocks and exchange prices,
providing a global view of supply and demand. Subscribers to the
Copper Bulletin receive the Yearbook as part of their annual
subscription.
ICSG2014STATISTICALYEARBOOK(September2014).TheICSGCopper
Bulletin yearbook includes annual statistics on copper and copper
products,theirproduction,usageandtradebycountry,aswellasstocks
andexchangeprices,providingaglobalviewofsupplyanddemandfor
thepast10years.TheYearbookservesasausefultoolforconsultations
and analysis on the longer term evolution of world copper production,
usage,stocksandprices.SubscriberstotheCopperBulletinreceivethe
Yearbookaspartoftheirannualsubscription.
DIRECTORY OF COPPER MINES AND PLANTS (July 2014 edition). The
Directory of Copper Mines and Plants highlights current capacity and
provides a five year outlook of forecasted capacity for over 1,000
existingandplannedcoppermines,plantsandrefineriesonacountryby
countrybasis,includingseparatetablesforSXEWplants.Salientdetails
foreachoperationareincludedandtheDirectoryseparatesoperations
between Operating & Developing and Exploration & Feasibility stages.
TheDirectoryispublishedtwiceperyear.
ICSG STATISTICAL DATABASE. The ICSG maintains one of the world's
mostcompletehistoricalandcurrentdatabaseswithstatisticsoncopper
productioncapacities,dataoncopperproduction,consumption,stocks,
prices, recycling and trade for copper products. In 2012 ICSG launched
itsonlinestatisticaldatabasethatgivessubscribersdirectaccesstoICSG
historicaldata.Italsoprovidessubscriberswithspecificextractiontools
fordownloadingthedata.
DIRECTORY OF COPPER & COPPER ALLOY FABRICATORS (FIRST USE)

(2014 edition). This directory provides a global overview of companies
and plants involved in the first use of copper. First users are mainly
semisfabricatorsthatprocessrefineryshapesintosemifinishedcopper
andcopperalloyproducts.PublishedSeptember2014.
SURVEY OF BRASS MILLS, COPPER PRODUCTS AND FOUNDRIES IN
CHINA (2014). The survey provides a detailed overview of Chinas
industrial use of refined copper and scrap in the brass mills and
foundriessectors.PublishedMarch2014.
MARKETSTUDY:FABRICATIONANDCOPPERUSEINTHEMIDDLEEAST
ANDNORTHAFRICA.Astudyfocusingonprovidingacompletepicture
of fabrication and copper use in the Middle East, Egypt and India.
PublishedJuly2014.
SURVEYOFWIRERODPLANTSANDSECONDARYCOPPERSMELTERSIN
CHINA(2013).ThefirstlargescaleICSGSurveyofcopperwirerodplants
inChina.Areviewofwirerodplants,secondarysmeltersandrefineries
underconstructionin2012andexpansionplansupto2015isincluded.
COPPER AND COPPER ALLOY SCRAP SUPPLY SURVEY IN EU27 (2013).
The study compares scrap trade statistics of EUROSTAT and UN
COMTRADE databases. Differences in numbers are revealed and
explained by EUROSTAT and selected interviews with scrap collectors
and traders. It also gives an analysis on material availability, copper
contentintradeandtheeconomiclogicofcopperscrapdismantling.
TAXATION,ROYALTIESANDOTHERFISCALMEASURESAPPLIEDTOTHE
NONFERROUS METALS INDUSTRY (2013). A joint report by the ICSG,
ILZSG and INSG, providing information on fiscal measures applied to
miningandmetalsacrossvariousjurisdictionswithaparticularfocuson
copper,lead,zincandnickel.
FormoreinformationaboutICSGandICSGpublications,pleasevisitour
websiteatwww.icsg.org
iii
TableofContents
AboutICSG
ICSGOfficersandSecretariat
ICSGPublications
i
ii
iii
TableofContents
Chapter1:CuBasics
WhatisCopper?
CopperPropertiesandBenefits
SelectedCopperDefinitions
CopperinHistory
CopperToday
2
2
3
4
5
6
Chapter2:CopperProduction
HowisCopperProduced?
7
7
CopperMineProduction:WorldCopperMineProduction,19002013
CopperMineProductionbyRegion:1960,1980&2013
CopperMineProductionbyCountry:Top20Countriesin2013
TrendsincopperMiningCapacity,19972017
Top20CopperMinesbyCapacity,basis2014
ConstraintsonCopperSupply
CopperSmelterProduction:WorldCopperSmelterProduction1980
2013
TrendsinCopperSmeltingCapacity,19972017
CopperSmelterProductionbyRegion,19902013
CopperSmelterProductionbyCountry:Top20Countriesin2013
Top20CopperSmeltersbyCapacity,basis2014
WorldRefinedCopperProduction,19602013
TrendsinRefinedCapacity,19972017
RefinedCopperProductionbyRegion,19902013
RefinedCopperProductionbyCountry:Top20Countriesin2013
Top20CopperRefineriesbyCapacity,basis2014
SemisProduction:WorldCopper&CopperAlloySemisProduction,
19802013
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
CopperandCopperAlloySemisProductionbyRegion,1980&2013
CopperandCopperAlloySemisCapacitybyRegion&Product2014
CopperandCopperAlloySemisProductionbyCountry:Top20
Countries,2014
25
26
Chapter3:CopperTrade
MajorInternationalTradeFlowsofCopperOresandConcentrates
MajorInternationalTradeFlowsofCopperBlisterandAnode
MajorInternationalTraeFlowsofRefinedCopper
LeadingExportersandImportersofSemiFabricatedCopper
Products,2013
TheGlobalCopperMarketandtheCommodity"Copper"
CopperStocks,PricesandUsage
28
29
30
31
Chapter4:CopperUsage
HowisCopperUsed?
WorldRefinedCopperUsage,19002013
RefinedCopperUsagebyRegion,1960,1980&2013
WorldRefinedCopperUsageperCapita:19502013
IntensityofRefinedCopperUsage
TotalCopperUsage,IncludingCopperScrap,20022012
MajorUsesofCopper:Electrical
MajorUsesofCopper:ElectronicsandCommunications
MajorUsesofCopper:Construction
MajorUsesofCopper:Transportation
MajorUsesofCopper:IndustrialMachineryandEquiptment
MajorUsesofCopper:ConsumerandGeneralProducts
MajorUsesofCopper:UsagebyEndUseSectorandRegion,2013
35
35
36
37
38
39
40
41
42
43
44
45
46
47
Chapter5:CopperRecycling
CopperRecyclingRateDefinitions
GlobalCopperRecyclablesUse,20042012
ICSGGlobalCopperScrapResearchProjectandrecentscrapreports
IndustryGlobalFlowsofCopper(2012)andDerivedRecyclingRates
TheFlowofCopper
ANNEX
WorldCopperProductionandUsage,19602013
48
49
50
51
52
53
55
55
27
32
33
34
Chapter1:CuBasics
WhatisCopper?
Copperisamalleableandductilemetallicelementthatisanexcellent
conductor of heat and electricity as well as being corrosion resistant
and antimicrobial. Copper occurs naturally in the Earths crust in a
variety of forms. It can be found in sulfide deposits (as chalcopyrite,
bornite, chalcocite, covellite), in carbonate deposits (as azurite and
malachite), in silicate deposits (as chrysycolla and dioptase) and as
pure"native"copper.
Copper also occurs naturally in humans, animals and plants. Organic
life forms have evolved in an environment containing copper. As a
nutrient and essential element, copper is vital to maintaining health.
Lifesustainingfunctionsdependoncopper.
Copper and copperbased alloys are used in a variety of applications
that are necessary for a reasonable standard of living. Its continued
productionanduseisessentialforsociety'sdevelopment.Howsociety
exploitsandusesitsresources,whileensuringthattomorrow'sneeds
are not compromised, is an important factor in ensuring society's
sustainabledevelopment.
Copper is one of the most recycled of all metals. It is our ability to

recycle metals over and over again that makes them a material of
choice.Recycledcopper(alsoknownassecondarycopper)cannotbe
distinguished from primary copper (copper originating from ores),
once reprocessed. Recycling copper extends the efficiency of use of
themetal,resultsinenergysavingsandcontributestoensuringthat
wehaveasustainablesourceofmetalforfuturegenerations.
The demand for copper will continue to be met by the discovery of
new deposits, technological improvements, efficient design, and by
taking advantage of the renewable nature of copper through reuse
and recycling. As well, competition between materials, and supply
and demand principles, contribute to ensuring that materials are
usedefficientlyandeffectively.
Copper is an important contributor to the national economies of
mature, newly developed and developing countries. Mining,
processing, recycling and the transformation of metal into a
multitude of products creates jobs and generates wealth. These
activities contribute to building and maintaining a country's
infrastructure, and create trade and investment opportunities.
Copperwillcontinuetocontributetosocietysdevelopmentwellinto
thefuture.
ImagescourtesyoftheCopperDevelopmentAssociation.
Key Physical Properties of Copper
CopperPropertiesandBenefits
Chemical Symbol
Cu
Atomic Number
29
Atomic Weight
63.54
Density
8960 kg m-3
Melting point
1356 K
Specific Heat cp (at 293 K)
0.383 kJ kg-1 K-1
Thermal conductivity
394 W m-1 K-1
Coefficient of linear expansion
16.5 x 10-6 K-1
Young's Modulus of Elasticity
110 x 109 N m-2
Electrical Conductivity (% IACS)
1.673 x 10-8 ohm-m
Crystal Structure
Face-Centered Cubic
Coppermakesvitalcontributionstosustainingandimprovingsociety.
Copper'schemical,physicalandaestheticpropertiesmakeitamaterial
ofchoiceinawiderangeofdomestic,industrialandhightechnology
applications.
Alloyed with other metals, such as zinc (to form brass), aluminum or
tin (to form bronzes), or nickel, for example, it can acquire new
characteristics for use in highly specialized applications. In fact,
society'sinfrastructureisbased,inpart,oncopper.
Butcoppersbenefitsextendbeyondmechanicalcharacteristics:
Copper is essential to the health of plants, animal and humans.

Deficiencies,aswellasexcesses,canbedetrimentaltohealth.
Antimicrobial Properties. Due to coppers antimicrobial
properties, copper and copper alloy products can be used to
eliminatepathogensandreducethespreadofdiseases.
Recycling. Copper is one of the most recycled of all metals.
Virtually all products made from copper can be recycled and
recycledcopperlosesnoneofitschemicalorphysicalproperties.
Energy Efficiency. Copper can improve the efficiency of energy
productionanddistributionsystems.
SelectedCopperDefinitions
Anode. The positive terminal in an electrolytic cell where

electrons leave a device to enter the external circuit. A copper
anodeat99percentpuritywilldissolve.
Blister.Theproductofaconvertingfurnace.Itisanintermediate,
more concentrated (with respect to the desired metal) material
than matte, from which it is made, and is usually transferred to
anotherfurnaceforfurtherconcentration.
Cathode. The negative terminal in an electrolytic cell where
copper is plated during electrowinning or electrolytic refining.
Copper so plated is referred to as cathode and is generally
about99.99percentpure.
ContainedCopper.Containedcopperisdefinedastheanalytical
amountofcopperoutputtedinconcentratesandprecipitates.
Copper concentrate. A product of flotation milling. It composes
sulfide minerals and entrained material and contains onethird
each copper, iron, and sulfur. It can be processed
pyrometallurgically in a smelter to produce matte or
hydrometallurgically (pressure leaching) to produce pregnant
leach solution, both products requiring further processing to
obtaincoppermetal.
Direct melt scrap. Directmelt, or remelt scrap is secondary
material that can be used directly in a furnace without cleanup
throughtheuseoffluxesandpolingandrerefining.
Electrorefining. An electrolytic refining process where less pure
copperanodeisdissolvedandhighpuritycopperisplatedatthe
cathode.
Sources:ICSGandUSGS.
Electrowinning.Anelectrolyticrefiningprocesswheretheanode
is inert, and rich (copperloaded) electrolyte continually replaces
lean (copperdepleted) electrolyte as copper is plated at the
cathode.
Firerefinedcopper.Theproductofafirerefiningfurnace.Itisan
intermediate, more concentrated (with respect to the desired
metal) material than blister, from which it is made. Firerefined
copper contains about 99 percent copper, the exact percentage
dependingontheprocessparameters.
Primary copper. Copper extracted from ores and recovered as
coppermetalorcopperbearingchemicals.
Secondary refined material. Secondary refined material
represents scrap that has been firerefined, or that has been
converted toanodeatthesmelterlevelandthenelectrolytically
refined.
Solvent extraction. A method of separating one or more metals
from a leach solution by treating with a solvent that will extract
the required metal, leaving the others. The metal is recovered
fromthesolventbyfurthertreatment.
Stocks. ICSG reports refined copper stocks as those held by the
exchanges, consumers, producers and governments. Merchant
stocks are included where it is certain that these are
nonduplicativetothosealreadyreported.Onlyrefinedproducts
atplantsitesareincluded.Itemssuchaswirerod,tubeandother
semifabricatedformsarenotincluded.
Usage. Copper usage represents refined copper used by
semifabricators. Usage data is either directly reported, or ICSG
estimatesanapparentusageusingthefollowingformula:Refined
copper production + refined imports refined exports + refined
beginningstocksendingstocks.
CopperinHistory
Archaeological evidence demonstrates that copper was one of the first metals used by humans and was used at least 10,000
years ago for items such as coins and ornaments in western Asia. During the prehistoric Chalcolithic Period (derived from
chalkos, the Greek word for copper), man discovered how to extract and use copper to produce ornaments and implements. As
early as the 4th to 3rd millennium BC, workers extracted copper from Spain's Huelva region.
The discovery that copper, when alloyed with tin, produces bronze, led to the Bronze Age, c. 2,500 BC. Israel's Timna Valley
provided copper to the Pharaohs (an Egyptian papyrus records the use of copper to treat infections and to sterilize water).
Cyprus supplied much of the Phoenician, Greek and Roman needs for copper. "Copper" is derived from the latin Cyprium,
literally Cyprian metal. The Greeks of Aristotle's era were familiar with brass as a valued copper alloy. In South America, the
pre-Columbian Maya, Aztec and Inca civilizations exploited copper, in addition to gold and silver. During the Middle Ages,
copper and bronze works flourished in China, India and Japan.
The discoveries and inventions relating to electricity and magnetism of the late 18th and early 19th centuries by scientists
such as Ampere, Faraday and Ohm, and the products manufactured from copper, helped launch the Industrial Revolution
and propel copper into a new era. Today, copper continues to serve society's needs. Although copper has been in use for at
least 10,000 years, innovative applications for copper are still being developed as evidenced by the development of the copper
chip by the semi-conductors industry.
ImagescourtesyoftheBritishMuseum,theCopperDevelopmentAssociation andICSG.
CopperToday
Theglobaldemandforcoppercontinuestogrow:worldrefinedusagehasmorethantripledinthelast50yearsthankstoexpandingsectorssuchas
electrical and electronic products, building construction, industrial machinery and equipment, transportation equipment, and consumer and
general products. Some of the highlights of 2012 copper production and usage are listed below. In the chapters that follow, more indepth
information is presented on copper production, trade, usage, and recycling. For the most uptodate information on the global copper market,
pleasevisitourwebsiteatwww.icsg.org.
CopperProductionHighlights
Preliminary figures indicate that global
copper mine production in 2013 reached
18.1 million tonnes. The largest producer
of mined copper was Chile (almost 5.8
milliontonnes).
Smelter production in 2013 reached

around16.8milliontonnes.Chinawasthe
largestproducerofblister&anodein2013
(over5.7milliontonnes)
Refinery Production in 2013 increased to

20.9 million tonnes, including 3.8 million
tonnesofsecondaryrefinedproduction.
CopperUsageHighlights
Refinedcopperusage(usagebysemisplantsorthe
first users of copper) in 2013 reached 21.2 million
tonnes. China was also the largest consumer of
refinedcopperin2013withapparentusageofover
9.5milliontonnes.
According to the International Copper Association

(ICA), equipment was the largest copper enduse
sector last year, followed by building construction
andinfrastructure.
New copper applications being developed include

antimicrobialcoppertouchsurfaces,leadfreebrass
plumbing, high tech copper wire, heat exchangers,
andnewconsumerproductsaswell.
ImagescourtesyofCDAandLuisHernnHerrerosfromwww.visnu.cl,CopyrightAngloAmerican(FaenaLosBroncesyMantosBlancos Chile)
Chapter2:CopperProduction
HowisCopperProduced?
Geologists look for signs and/or anomalies that would indicate the
presence of a mineral deposit. Under the right geological, economic,
environmentalandlegalconditions,miningcanproceed.
Primary copper production starts with the extraction of copperbearing
ores.Therearethreebasicwaysofcoppermining:surface,underground
miningandleaching.Openpitminingisthepredominantminingmethod
intheworld.
After the ore has been mined, it is crushed and ground followed by a
concentration by flotation. The obtained copper concentrates typically
contain around 30% of copper, but grades can range from 20 to 40 per
cent.Inthefollowingsmeltingprocess,sometimesprecededbyaroasting
step,copperistransformedintoamattecontaining5070%copper.The
molten matte is processed in a converter resulting in a socalled blister
copperof98.599.5%coppercontent.Inthenextstep,theblistercopper
isfirerefinedinthetraditionalprocessroute,or,increasingly,remelted
andcastintoanodesforelectrorefining.
The output of electrorefining is refined copper cathodes, assaying over

99.99%ofcopper.
Alternatively, in the hydrometallurgical route, copper is extracted from
mainly low grade oxide ores and also some sulphide ores, through
leaching (solvent extraction) and electrowinning (SXEW process). The
outputisthesameasthroughtheelectrorefiningrouterefinedcopper
cathodes. ICSG estimates that in 2013, refined copper production from
SXEWrepresented18%oftotalcopperrefinedproduction.
Refined copper production derived from mine production (either from
metallurgical treatment of concentrates or SXEW) is referred to as
primarycopperproduction,asobtainablefromaprimaryrawmaterial
source.However,thereisanotherimportantsourceofrawmaterialwhich
is scrap. Copper scrap derives from either metals discarded in semis
fabricationorfinishedproductmanufacturingprocesses(newscrap)or
obsolete endoflife products (old scrap). Refined copper production
attributable to recycled scrap feed is classified as secondary copper
production. Secondary producers use processes similar to those
employed for primary production. ICSG estimates that in 2013, at the
refinerylevel, secondarycopperrefinedproductionreached18%oftotal
copperrefinedproduction.
CopperMineProduction
WorldCopperMineProduction, 19002013
(thousandmetrictonnes)
Source:ICSG
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1900
1910
1920
1930
1940 1950
Concentrates
1960 1970
SX-EW
1980
1990
2000
2010
Since1900,whenworldproductionwaslessthan500thousandtonnescopper,worldcoppermineproductionhasgrownby3.2%peryearto18.1
milliontonnesin2013.SXEWproduction,virtuallynonexistentbeforethe1960s,reachednearly3.8milliontonnesin2013.
CopperMineProductionbyRegion,1960versus2013
Thousandmetrictonnescopper
Source:ICSG
2013
1960
19%
3%
6%
Oceania
10%
Africa
25%
Europe
42%
6%
13%
NorthAmerica
Asia
11%
13%
36%
16%
LatinAmerica
Fromlessthan750,000tonnescopperin1960,coppermineproductioninLatinAmericasurgedtoover7.5milliontonnesin
2013,representing42%oftheglobaltotal.Asiahasalsoexhibitedsignificantgrowth.Theregionsshareofglobalproduction
hasincreasedfromjust6%to16%overtherespectiveperiod.
Copper Mine Production by Country: Top 20 Countries in 2013

(Thousand metric tonnes)
Source: ICSG
Chile
China
Peru
United States
Australia
Congo, D.R.
Zambia
Russian Fed.
Canada
Indonesia
Mexico
Kazakhstan
Poland
Brazil
Iran
Mongolia
Laos
Papua New Guinea
Scandinavia
Turkey
1,000
2,000
3,000
4,000
5,000
6,000
Chileaccountedforalmostonethirdofworldcoppermineproductionin2013withmineoutputofalmost5.8milliontonnescopper.
10
TrendsinCopperMiningCapacity,19972017
Thousandmetrictonnes(Bars)andAnnualpercentagechange(Line)
Source:ICSGDirectoryofCopperMinesandPlants July2014
12.0%
Concentrates
25,000
25.0%
20,000
20.0%
6,000
6.0%
15,000
20092013:
+2.3%
10,000
20032008:
+3.7%
19972002:
+2.6%
5,000
2.0%
0.0%
1997
2001
2005
2009
2013
2017
%growth
%growth
20142017:
+8.1%
5,000
15.0%
4,000
19972002:
+10.2%
20032008:
+5.4%
10.0%
3,000
20092013:
+2.7%
2,000
20142017:
+6.1%
5.0%
8.0%
10.0%
4.0%
7,000
SXEW
1,000
0.0%
1997
2001
2005
2009
2013
2017
Copperminingcapacityisestimatedtoreach27.5milliontonnescopperin2017,with21%beingSXEWproduction.Thiswillbe
around30%higherthancapacityof21.0milliontonnescopperrecordedin2013.Asthechartsillustrate,growthinconcentrate
capacityhasgenerallybeenrising,whilegrowthinSXEWcapacityhasbeenfalling.Thistrendshouldreversegoingforwardasnew
capacityisaddedatexistingandsomenewoperations.
11
Top20CopperMinesbyCapacity(basis2014)
Source:ICSG DirectoryofCopperMinesandPlants July2014
Rank
Mine
Country
Owner(s)
Source
Capacity
1
2
3
Escondida
Grasberg
Collahuasi
Chile
Indonesia
Chile
BHP Billiton (57.5%), Rio Tinto Corp. (30%), Japan Escondida (12.5%)
P.T. Freeport Indonesia Co. (PT-FI), Rio Tinto
Anglo American (44%), Glencore plc (44%), Mitsui + Nippon (12%)
Concs & SX-EW

Concentrates
Concs & SX-EW
1,050
790
520
Los Bronces
Codelco Norte
Chile
Anglo Amercian 75.5%, Mitsubishi Corp. 24.5%
Concs & SX-EW
490
Chile
Concs & SX-EW
450
Antamina
Peru
Concentrates
450
Morenci
United States
Codelco
BHP Billiton (33.75%), Teck (22.5%), Glencore plc (33.75%), Mitsubishi Corp.
(10%)
Freeport-McMoRan Inc 85%, 15% affiliates of Sumitomo Corporation
Concs & SX-EW
450
El Teniente
Chile
Codelco
Concs & SX-EW
443
Russia
Norilsk Nickel
Concentrates
430
10
11
Taimyr Peninsula (Norilsk/

Talnakh Mills)
Los Pelambres
Radomiro Tomic
Chile
Chile
Antofagasta Plc (60%), Nippon Mining (25%), Mitsubishi Materials (15%)

Codelco
Concentrates
SX-EW
400
400
12
Andina
Chile
Codelco
13
Kansanshi
Zambia
First Quantum Minerals Ltd (80%), ZCCM (20%)
14
Bingham Canyon
United States
15
Batu Hijau
Indonesia
Kennecott
Pt Newmont Nusa Tenggara (PT Pukuafu 20%, Newmont 41.5%, Sumitomo
16
Sarcheshmeh
Iran
National Iranian Copper Industry Co.
17
Cerro Verde II (Sulphide)
Peru
18
Olympic Dam
Australia
19
Cuajone
Peru
Freeport-McMoRan Copper & Gold Inc.53.5%, Compaia de Minas

Buenaventura 18.5%, Sumitomo 21%
BHP Billiton
Grupo Mexico (54.1%), Marmon Corp. (15%), Freeport-McMoRan Copper &
20
Konkola
Zambia
Konkola Copper Mines (Vedanta 79.4%, ZCCM 20.6%)
Concentrates
300
Concs & SX-EW
285
Concentrates
280
Concentrates
250
Concs & SX-EW
249
Concentrates
240
Concs & SX-EW
225
Concs & SX-EW
212
Concentrates
200
12
ConstraintsonCopperSupply
With copper concentrate in strong demand, there has been growing
interest in understanding the obstacles that can prevent copper mine
supply from coming onstream. 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
contacttheICSGSecretariatatmail@icsg.org
Decliningoregrades:aseriousissueindevelopedcopperareas
suchastheUSAandChile
Project finance: prolonged economic and price volatility may

havesignificantimpactoncostofcapital
Tax&investmentregimes:recentresearchindicatestheseare
lessimportantthangeologicalendowments
Othercostissues:lowercapitalexpendituremayhaveadverse
longtermeffectoncoppersupply;operatingcostescalation
Watersupply:acriticalissueindryminingdistricts
Energy: coal is the fuel chosen to power main copper mines

andprocessesclimatechangemayincreasecosts
Other environmental issues: governments are becoming more

awareoftheimpactofminingtothesurroundingenvironment
in recent years. In countries like Peru and the Philippines, the
relationshipwithindigenouscommunityisalsoakeyfactor.
Resource nationalism: It has become a priority for certain
governmentstodeveloptheirmineralresourcesthathavenot
beenexploiteduntilnow.Whilewillingtodeveloptheirnatural
resources,countriesmightbeseekingtoextractstrongrevenue
flows from them. It will be important to balance
royalty/taxation levels with the need to encourage capital
investmenttodeveloptheirrisingindustries.
Sulphuric acid supply and price: 16% cost factor for SXEW
projects
Skilled labor: open labor markets would help address this
constraint
Laborstrikes:tendtoincreasewhenrefinedpricesarehighand
GDPisgrowingfaster,buttendtobelongerandlessfrequent
otherwise
High domestic costs if there is Dutch disease (resulting in
higherexchangeratesdueinparttostrongexports)
Rate between imported inputs and domestic input costs
affectedbythecurrencystrengthoftheproducer
Political risks: Security and transport accessibility is crucial to
mineoperation
13
CopperSmelterProduction
World Copper Smelter Production, 1980-2013
Thousand metric tonnes copper
Source: ICSG
17,500
15,000
12,500
10,000
7,500
5,000
2,500
1980
1985
1990
1995
Primary Feed
2000
2005
2010
Secondary Feed
Smeltingisthepyrometallurgicalprocessusedtoproducecoppermetal.In2013,worldcoppersmelterproductionreached16.8milliontonnes
copper.Recently,thetrendtorecovercopperdirectlyfromoresthroughleachingprocesseshasbeenontheincrease.Primarysmeltersusemine
concentratesastheirmainsourceoffeed(althoughsomeusecopperscrapaswell).Secondarycoppersmeltersusecopperscrapastheirfeed.
14
TrendsinCopperSmeltingCapacity,1997and2017
Percentageshareoftotalcapacity,bytechnologytype
Source:ICSGDirectoryofCopperMinesandPlants July2014
1997
6.5%
2017
4% 0% 1%
1.1%
9%
14.5%
15%
55.0%
22.9%
71%
Flash/Continuous
ModifiedReverb/Convert
LowGradeEW
Reverb/Blast/Rotary
Electric
Unkown
TheuseofFlash/Continuoustechnologyaccountedfor55%intotalcoppersmeltingcapacityin1997.Thissharerosetoalmost70%in
2013.Itisexpectedtoremainaroundthisleveluntil2017.
15
Copper Smelter Production by Region, 1990-2013

Thousand metric tonnes
Source: ICSG
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
1990
1992
Africa
1994
1996
1998
America
2000
2002
Asia
2004
2006
Europe
2008
2010
2012
Oceania
Asiasshareofworldcoppersmelteroutputjumpedfrom27%in1990to57%in2013assmelterproductioninChinaexpandedrapidly.
16
CopperSmelterProduction byCountry:Top20Countriesin2013
Thousandmetrictonnes
Source:ICSG
China
Japan
Chile
Russian Fed.
India
Korean Rep.
Poland
Zambia
United States
Germany
Australia
Bulgaria
Kazakhstan
Peru
Canada
Indonesia
Brazil
Mexico
Spain
Iran
1,000
2,000
3,000
4,000
5,000
6,000
In2013,Chinaaccountedforoverathirdofworldcoppersmelterproduction,followedbyJapan(9%),Chile(8%)andtheRussian
Federation(5%).
17
Top20CopperSmeltersbyCapacity(basis2014)
Rank
Smelter
Country
Operator/Owner(s)
Guixi (smelter)
China
Jiangxi Copper Corp.
Birla Copper (Dahej)
India
Birla Group
Codelco Norte (smelter)
Chile
Hamburg
Process
Capacity
Codelco
Outokumpu Flash
Outokumpu Flash, Ausmelt, Mitsubishi
Continuous
Outokumpu/ Teniente Converter
450
Germany
Aurubis
Outokumpu, Contimelt, Electric
450
Besshi/ Ehime (Toyo)
Japan
Sumitomo Metal Mining Co. Ltd.
Outokumpu Flash
450
Saganoseki/ Oita (smelter)
Japan
Pan Pacific Copper Co. Ltd
Outokumpu Flash
450
El Teniente (Caletones)
Chile
Codelco Chile
Reverberatory/ Teniente Conv.
400
China
Jinchuan Non- Ferrous Metal Co.
Reverberatory/ Kaldo Conv.
400
China
Xiangguang Copper Co. Ltd.
Outokumpu Flash
400
Jinchuan (smelter)
Xiangguang Copper
(
lt )
Norilsk (Nikelevy, Medny)
Russia
Norilsk G-M
Reverb, Electric, Vanyukov
400
Sterlite Smelter (Tuticorin)
India
Vedanta
Isasmelt Process
400
Jinguan (smelter)
China
Tongling Nonferrous Metals Group
Flash Smelter
400
13
Ilo Smelter
Peru
Southern Copper Corp. (Grupo Mexico 75.1%) Isasmelt Process
360
14
Onahama/ Fukushima
Japan
Mitsubishi Materials Corp. (49.29%), Dowa

Metals & Mining Co. Ltd.(31.15%), Furukawa
Metals & Resources Co. Ltd. (12.67%)
Reverberatory
354
15
Altonorte (La Negra)
Chile
GlencoreXstrata plc
Noranda Continuous
350
15
Jinlong (Tongdu)
China
Tongling Nonferrous Metals Corp. (57.4%),

Sumitomo (35%), Pingguo Aluminium Co.
Flash Smelter
350
15
Yunnan
China
Yunnan Copper Industry Group (Local

Government)
Isasmelt Process
350
15
Tongling
Naoshima/ Kagawa
(
lt )
Baiyin
China
Tongling Nonferrous Metals Group
Outokumpu Flash
350
Japan
Mitsubishi Materials Corp.
Mitsubishi Continuous
342
China
Baiyin Non-Ferrous Metals
Flash Smelter
340
19
20
900
500
18
RefinedCopperProduction
WorldRefinedCopperProduction,19602013
Source:ICSG
20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
0
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012
Refinery Primary
Refinery Secondary
Refinery SX-EW
Withtheemergenceofsolventextractionelectrowinning,(SXEW)technology,refinedcopperproducedfromleachingoreshasbeenontherise,
increasingfromlessthan1%ofworldrefinedcopperproductioninthelate1960sto18%ofworldoutputin2013.
19
Trends in Refined Capacity, 1997-2017

Thousand metric tonnes copper
Source: ICSG Directory of Copper Mines and Plants - July 2014
30,000
28,000
26,000
24,000
22,000
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
1997
1999
2001
2003
Electrolytic
2005
2007
2009
Electrowinning
2011
2013
2015
2017
Fire Refining
Thischartshowsworldcopperrefinerycapacitybyrefiningprocess.Theratiobetweenproductionandcapacityiscalledthecapacityutilizationrate.
Theworldrefinerycapacityutilizationratewasaround79%in2013.
20
Refined Copper Production by Region, 1990-2013

Source: ICSG
25,000
20,000
15,000
10,000
5,000
0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
Africa
America
Asia
Europe
Oceania
Regionwiththehighestoutputofrefinedcopperin1990:theAmericas(4,250kt),followedbyEurope(3,000kt)
Leadingregionintheworldin2013:Asia(10,340kt)ascomparedto2,500ktin1990.
21
RefinedCopperProductionbyCountry:Top20Countriesin2013
Thousand metrictonnes
Source:ICSG
China
Chile
Japan
United States
Russian Fed.
Germany
Congo
India
Korean Rep.
Zambia
Poland
Australia
Belgium
Mexico
Peru
Spain
Kazakhstan
Canada
Brazil
Bulgaria
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
22
Top20CopperRefineriesbyCapacity(basis2014)
Rank
Refinery
Country
Owner(s)
Process
Capacity
Guixi
China
Jiangxi Copper Corporation
Electrolytic
900
Jinchuan
China
Jinchuan Non Ferrous Co.
Electrolytic
650
Daye/ Hubei (refinery)
China
Daye Non-Ferrous Metals Co.
Electrolytic
600
Chuquicamata Refinery
Chile
Codelco
Electrolytic
600
Yunnan Copper
China
Yunnan Copper Industry Group (64.8%)
Electrolytic
500
Birla
India
Birla Group Hidalco
Electrolytic
500
Pyshma Refinery
Russia
Uralelectromed (Urals Mining & Metallurgical Co.)
Electrolytic
500
Toyo/Niihama (Besshi)
Japan
Sumitomo Metal Mining Co. Ltd.
Electrolytic
450
Amarillo
United States
Grupo Mexico
Electrolytic
450
10
Onsan Refinery I
Korean Republic
LS-Nikko Co. (LS, Nippon Mining)
Electrolytic
440
11
Hamburg (refinery)
Germany
Aurubis
Electrolytic
416
12
El Paso (refinery)
United States
Freeport-McMoRan Copper & Gold Inc.
Electrolytic
415
13
Baiyin
China
Baiyin Nonferrous Metals
Electrolytic
400
13
Jinguan (refinery)
China
Tongling Non-Ferrous Metals Group
Electrolytic
400
13
Jinlong (Tongdu) (refinery)
China
Tongling NonFerrous Metal Corp. 52 %, Sharpline International

13%, Sumitomo Corp. 7.5%, Itochu Corp. 7.5%
Electrolytic
400
13
Xiangguang Copper (refinery)
China
Yanggu Xiangguang Copper Co
Electrolytic
400
13
Shandong Fangyuan (refinery)
China
Dongying, Shandong
Electrolytic
400
13
Sterlite Refinery
India
Vedanta
Electrolytic
400
13
Las Ventanas
Chile
Codelco
Electrolytic
400
13
Radomiro Tomic (SX-EW)
Chile
Codelco
Electrowinning
400
23
WorldCopperandCopperAlloySemisProduction
WorldCopperandCopperAlloySemis Production,19802013
Source:ICSG
27,000
WorldCopperandCopperAlloySemis
ProductionBreakdown2013P
24,000
21,000
CopperSemis
26%
18,000
15,000
12,000
9,000
6,000
CopperAlloy
Semis
10%
Notspecified
64%
3,000
0
1980
1984
1988
1992
1996
2000
2004
2008
2012
Source:ICSG
Totalsemisproduction: 24.06mtonnes
Semisfabricatorsprocessrefineryshapessuchascathodes,wirebar,ingot,billetslabandcakeintosemifinishedcopperandcopperalloyproductsusing
bothunwroughtcoppermaterialsanddirectmeltscrapasrawmaterialfeed.Semisfabricatorsareconsideredtobethefirstusersofrefinedcopper
andincludewirerodplantsandbrassmills.
P/Preliminary.Forsomecountriesstillincomplete
24
CopperandCopperAlloySemisProductionbyRegion,1980&2013P
Source:ICSG
20,000
18,000
1980
2013
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Africa
Asia
Europe
North America
Oceania
South America
Asiaaccountedfor77%(oralmost18.5millionmetrictonnes)ofsemisoutputin2013,comparedto23%in1980.
P/Preliminary.Forsomecountriesstillincomplete
25
Copper&CopperAlloySemisProductionCapacitybyRegion&Product
Source:ICSGDirectoryofCopperandCopperAlloyFabricators2014
Semis Production Capacity by Product,
2013 vs 2014 (million tonnes gross weight)
Source: ICSG
SemisProductionCapacitybyRegion,2014(%)
Source:ICSG
OtherAfrica
1%
60
Asia(ex.China)&
Oceania
20%
50
40
China
40%
MiddleEast&North
Africa
4%
30
20
10
Americas
13%
2013
EasternEurope
6%
WesternEurope
16%
In2014,Chinaaccountsforthelargestshareofworld
semisproductioncapacity(40%)andthelargest
numberofsemisplants(563).
Wire Rod
Tubes
Foil
2014
PSS
Alloy Wire
Powder
RBS
Ingots
Not Classified
Wirerodplantsareestimatedtoaccountfor53%of
worldfirstusecapacityin2014,orover28.0million
tonnes.
26
CopperandCopperAlloySemisProduction Capacity byCountry:

Top20Countries, 2014
Source:ICSGDirectoryofCopperandCopperAlloyFabricators2014
China
United States
Japan
Germany
Korean Rep.
Italy
India
Russian Fed.
Taiwan (China)
Brazil
Turkey
France
BENELUX
Mexico
Thailand
Spain
Indonesia
United Arab Emirates
Poland
Malaysia
4,000
8,000
12,000
16,000
20,000
27
Chapter3:CopperTrade
World Copper Imports by Product Category, 2013

Thousand metric tonnes copper (unless otherwise noted)
Source: ICSG
Copperproductsacrossthevaluechainaretradedinternationally.Often,
countries where upstream copper production capacity exceeds
downstreamproductioncapacitywillimporttherawmaterialsneededto
meettheirproductionneeds,andviceversa.Majorproductcategoriesof
coppertradedinternationallyinclude:
Concentrates
Blister & Anode
Refined Copper
Copperconcentrates
Copperblisterandanode
Coppercathodeandingots
Copperscrapand
Coppersemis
Copper Scrap /1
Copper & Copper
Alloy Semis /1
0
Copperpowdersandcompoundsarealsotradedglobally,buttypicallyin
much smaller quantities. In additional, copper is contained in enduse
products that are traded globally including automobiles, appliances,
electronic equipment and other products. Changes in trade regulations,
such as import duties or export quotas, can have significant impacts on
the international trade of copper. For more information about the
international trade of copper and changes in regulations that can affect
thetradeofcopper,pleasecontacttheICSGSecretariatatmail@icsg.org1
2,000
4,000
6,000
8,000
World Copper Exports by Product Category, 2013

Thousand metric tonnes copper (unless otherwise noted)
Source: ICSG
Concentrates
Blister & Anode
Refined Copper
Copper Scrap /1
Copper & Copper
Alloy Semis /1
Gross metal weight.
2,000
4,000
6,000
8,000
28
1
Major International Trade
Major
Trade Flows
FlowsofofCopper
CopperOres and Concentrates
Ores and Concentrates1
MajorExporters of
CopperOresand
Concentrates,2013
MajorImportersof
CopperOresand
Concentrates,2013
1.
2.
3.
4.
5.
6.
7.
8.
9.
Chile
Peru
Australia
Canada
Indonesia
UnitedStates
Brazil
Spain
Mexico
10. Mongolia
1. China
2. Japan
3. India
4. KoreanRep.
5. Spain
6. Germany
7. Bulgaria
8. Brazil
9. Finland
10. Philippines
ImagecourtesyoftheCopperDevelopmentAssociation.
Figure is intended to illustrate trade flows but not actual trade routes. Detailed trade matrices are available in ICSG Statistical Yearbook.
29
Major International Trade of Copper Blister

Major International
Trade Flows of Copper Blister and Anode1
1
and Anode
MajorExporters of
CopperBlisterand
Anode,2013
MajorImportersof
CopperBlisterand
Anode,2013
1. Chile
2. Bulgaria
3. Spain
4. Belgium
5. Netherlands
6. Finland
7. UnitedStates
8. Armenia
9. Peru
10. Germany
1. China
2. Belgium
3. Germany
4. Australia.
5. KoreanRep.
6. Canada
7. Austria
8. Netherlands
9. India
10. Sweden
30
Major International Trade Flows of Refined

Major International
Trade Flows of Refined Copper1
1
Copper
MajorExporters of
RefinedCopper,
2013
MajorImportersof
RefinedCopper,
2013
1. Chile
2. Japan
3. Australia
4. Kazakhstan
5. Poland
6. China
7. Peru
8. Malaysia
9. India
10. Belgium
1. China
2. UnitedStates
3. Germany
4. Italy
5. Malaysia
6. Taiwan
7. Turkey
8. KoreanRep.
9. Thailand
10. Brazil
31
LeadingExportersandImportersofSemiFabricatedCopperProducts,2013
1,500
1,200
Thousand metrictonnes,Source:ICSG
Importers
900
600
300
0
1,200
1,000
Exporters
800
600
400
200
0
32
TheGlobalCopperMarketandthe
CommodityCopper
Copper,asanyothergoodormerchandise,istradedbetweenproducers
and consumers. Producers sell their present or future production to
clients, who transform the metal into shapes or alloys, so that
downstream fabricators can transform these into different enduse
products.Oneofthemostimportantfactorsintradingacommoditysuch
as copper is the settlement price for the present day (spot price) or for
futuredays.
Exchanges
The role of a commodity exchange is to facilitate and make transparent
the process of settling prices. Three commodity exchanges provide the
facilities to trade copper: The London Metal Exchange (LME), the
Commodity Exchange Division of the New York Mercantile Exchange
(COMEX/NYMEX) and the Shanghai Futures Exchange (SHFE). In these
exchanges, prices are settled by bid and offer, reflecting the market's
perceptionofsupplyanddemandofacommodityonaparticularday.On
the LME, copper is traded in 25 tonne lots and quoted in US dollars per
tonne;onCOMEX,copperistradedinlotsof25,000poundsandquoted
in US cents per pound; and on the SHFE, copper is traded in lots of 5
tonnesandquotedinRenminbipertonne.Morerecently,minicontracts
ofsmallerlotssizeshavebeenintroducedattheexchanges.
Exchanges also provide for the trading of futures and options contracts.
These allow producers and consumers to fix a price in the future, thus
providingahedgeagainstpricevariations.Inthisprocesstheparticipation
of speculators, who are ready to buy the risk of price variation in
exchangeformonetaryreward,givesliquiditytothemarket.Afuturesor
options contract defines the quality of the product, the size of the lot,
delivery dates, delivery warehouses and other aspects related to the
tradingprocess.Contractsareuniqueforeachexchange.Theexistenceof
futures contracts also allows producers and their clients to agree on
differentpricesettlingschemestoaccommodatedifferentinterests.
Exchanges also provide for warehousing facilities that enable market
participants to make or take physical delivery of copper in accordance
witheachexchange'scriteria.
AverageAnnualCopperPrices(LME,GradeA,Cash),19602013
US$pertonne
Source:ICSG
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012
Current $
Constant 2009 $
33
CopperStocks,PricesandUsage(Jan2001Jun2014)
ThousandmetrictonnesandUScents/pound
Source:ICSG
3,375
450
3,000
400
2,625
350
2,250
300
1,875
250
1,500
200
1,125
150
750
100
375
50
Price LME (US cents/pound)
Thousand metric tonnes, copper
0
Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan
01
02
03
04
05
06
07
08
09
10
11
12
13
14
Exchanges
Producers
Merchants
Consumers
3 mth moving average copper usage seasonally adjusted
Price LME (UScents/pound)
34
Chapter4:CopperUsage
HowIsCopperUsed?
Copper is shipped to fabricators mainly as cathode, wire rod, billet, cake (slab) or ingot. Through extrusion, drawing, rolling, forging,
melting,electrolysisoratomization,fabricatorsformwire,rod,tube,sheet,plate,strip,castings,powderandothershapes.Thefabricators
oftheseshapesarecalledthefirstusersofcopper.Thetotaluseofcopperincludescopperscrapthatisdirectlymeltedbythefirstusersof
coppertoproducecoppersemis.
Copper and copper alloy semis can be further transformed by downstream industries for use in end use products such as automobiles,
appliances,electronics,andawholerangeofothercopperdependentproductsinordertomeetsocietysneeds.Thissectionprovidesa
rangeofinformationaboutrefinedcopperusage,totaluse,majorusesofcopperandenduse.
Forthemostuptodateinformationonrefinedcopperusage,pleasevisittheICSGwebsiteatwww.icsg.org
35
WorldRefinedCopperUsage,19002013
24,000
Source:ICSG
22,000
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Since1900,apparentusageforrefinedcopperhasincreasedfromlessthan500thousandtonnesto21.2millionmetrictonnesin2013as
usageovertheperiodgrewbyacompoundannualgrowthrateof3.4%peryear.
36
RefinedCopperUsagebyRegion,1960,1980&2013
Source:ICSG
Thousand Metric Tonnes Copper
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1960
Europe
Africa
1980
Asia
Latin America
2013
North America
Oceania
ThekeydrivertoglobalrefinedcopperusagehasbeenAsia,wheredemandhasexpandedmorethanfivefoldoverthelast30years.
37
WorldRefinedCopperUsage*perCapita:19502013
Sources:ICSGandUSCensusBureau
8
3.5
3.0
2.5
5
2.0
4
1.5
3
kg per person
Population (bln)
1.0
0.5
0.0
0
1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
World Population
Refined Copper Usage per Capita
*Refinedcopperistypicallyconsumedbysemisfabricatorsorthefirstusersofrefinedcopper,includingingotmakers,masteralloyplants,wirerod
plants,brassmills,alloywiremills,foundriesandfoilmills.Asaresult,percapitaconsumptionofrefinedcopperreferstotheamountofcopper
consumedbyindustrydividedbythetotalpopulationanddoesnotrepresentconsumptionofcopperinfinishedproductsperperson.
38
IntensityofRefinedCopperUsage*
Sources:ICSGandInternationalMonetaryFund
GDP per capita (US$) Intensity (tonnes/US$bln)
64863
55.871
45383
433.315
11311
187.839
51990
85.968
15776
342.630
6747
1,033.996
3226
498.355
43000
76.254
44999
312.158
1505
243.263
3510
281.516
4751
365.861
34715
266.318
38491
203.276
24329
589.458
10548
646.615
10630
265.386
13394
462.724
14819
313.661
24847
249.240
29150
249.393
57907
218.338
20930
894.242
5674
641.003
10815
565.758
43875
741.984
53101
109.228
1902
527.658
1474
1,413.491
IntensityofCopperUsage2013
1600
1400
Copper usage per GDP (tonnes/ US$ bln)
2013 data
Australia
Belgium
Brazil
Canada
Chile
China
Egypt
France
Germany
India
Indonesia
Iran
Italy
Japan
Korean Rep.
Malaysia
Mexico
Poland
Russian Fed.
Saudi Arabia
Spain
Sweden
Taiwan
Thailand
Turkey
United Arab Emirates
United States
Vietnam
Zambia
Zambia
1200
1000
China
Taiwan
800
UnitedArabEmbirates
ThailandMalaysia
Turkey
Vietnam
Egypt
Poland
Chile
Iran
Indonesia MexicoRussia
India
Brazil
600
400
200
KoreanRep.
Belgium
Spain
SaudiArabia
Italy
Germany
Japan
France
Sweden
UnitedStates
Canada
Australia
0
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
GDP per capita (US$)
*Refinedcopperistypicallyconsumedbysemisfabricatorsorthefirstusersofrefinedcopper,includingingotmakers,masteralloyplants,wirerod
plants,brassmills,alloywiremills,foundriesandfoilmills.Asaresult,percapitaconsumptionofrefinedcopperreferstotheamountofcopper
consumedbyindustrydividedbythetotalpopulationanddoesnotrepresentconsumptionofcopperinfinishedproductsperperson.
39
TotalCopperUsage,IncludingDirectMeltedCopperScrap,20022012
Source:ICSGRecyclablesSurveyMarch2014
30,000
Direct melt scrap
Refined usage
25,000
20,000
15,000
10,000
5,000
0
2002
2004
2006
2008
2010
2012
40
MajorUsesofCopper:Electrical
Copper is the best non
precious metal conductor of
electricity as it encounters
much
less
resistance
compared
with
other
commonlyusedmetals.Itsets
the standard to which other
conductorsarecompared.
sources such as solar, wind, geothermal, fuel cells and other

technologies areall heavily reliant on copperdue to its excellent
conductivity.
ICSG, in partnership with the Common Fund for Commodities,
the International Copper Association and the International
Copper Promotion Council (India), is supervising the Transfer of
TechnologyforHighPressureCopperDieCastinginIndiaproject.
The project is designed to facilitate the transfer of technology
relatedtothemanufactureofrotors,motorsandmotorsystems
usingmoreenergyefficienthighpressurecopperdiecastings.
Copper is also used in power cables, either insulated or

uninsulated,forhigh,mediumandlowvoltageapplications.
Inaddition,copper'sexceptionalstrength,ductilityandresistance
to creeping and corrosion makes it the preferred and safest
conductorforcommercialandresidentialbuildingwiring.
Copper is an essential
component of energy
efficient generators,
motors, transformers
and renewable energy
production
systems.
Renewable
energy
Images courtesyoftheCopperDevelopmentAssociation.
41
MajorUsesofCopper:Electronicsand
Communications
Copper plays a key role in

worldwide information and
communications technologies.
HDSL (High Digital Subscriber
Line) and ADSL (Asymmetrical
Digital
Subscriber
Line)
technology allows for highspeed
data transmission, including
internet service, through the
existingcopperinfrastructureofordinarytelephonewire.
Semiconductor manufacturers
have launched a revolutionary
"copper chip." By using copper
for circuitry in silicon chips,
microprocessors are able to
operateathigherspeeds,using
less energy. Copper heat sinks
help remove heat from transistors and keep computer
processors operating at peak efficiency. Copper is also
used extensively in other electronic equipment in the
formofwires,transformers,connectorsandswitches.
Copper and copper alloy products are used in domestic

subscriber lines, wide and local area networks, mobile
phonesandpersonalcomputers.
ImagescourtesyoftheCopperDevelopmentAssociationandEuropeanCopperInstitute.
42
MajorUsesofCopper:Construction
Copper and brass are the
materials of choice for
plumbing, taps, valves and
fittings.Thanksinparttoits
aesthetic appeal, copper
and its alloys, such as
architectural bronze, is
usedinavarietyofsettings
to build facades, canopies,
doorsandwindowframes.
Unlike plastic tubing,
copperdoesnotburn,melt
or release noxious or toxic
fumes in the event of a fire. Copper tubes also help
protect water systems from potentially lethal bacteria
such as legionella. Copper fire sprinkler systems are a
valuablesafetyfeatureinbuildings.
The use of copper

doorknobs and plates
exploits
copper's
biostatic properties to
helppreventthetransferofdiseaseandmicrobes.
Copper roofing, in addition
to being attractive, is well
known for its resistance to
extreme
weather
conditions. Major public
buildings,
commercial
buildings and homes use
copper for their rainwater
goods and roofing needs.
The telltale green patina
finish, that gives copper the classic look of warmth and
richness,istheresultofnaturalweathering.
ImagescourtesyoftheCopperDevelopmentAssociationandtheInternationalCopperAssociation.
43
MajorUsesofCopper:Transportation
All major forms of transportation depend on copper to
performcriticalfunctions.
Coppernickel alloys are used on the

hulls of boats and ships to reduce
marine biofouling, thereby reducing
dragandimprovingfuelconsumption.
Automobiles and trucks rely on copper

motors, wiring, radiators, connectors, brakes and
bearings. Today, the average midsize automobile
contains about 22.5 kg (50 lbs) of copper, while luxury
cars on average contain around 1,500 copper wires
totalingabout1.6km(1mile)inlength.
Electric and hybrid vehicles can contain even higher

levelsofcopper.Copper'ssuperiorthermalconductivity,
strength, corrosion resistance and recyclability make it
ideal for automotive and truck radiators. New
manufacturing technologies, processes and innovative
designs are resulting in lighter, smaller and more
efficientradiators.
Copper is also used extensively in new generation

airplanes and trains. New highspeed trains can use
anywhere from 2 to 4 tonnes of copper, significantly
higherthanthe1to2tonnesusedintraditionalelectric
trains.
ImagescourtesyoftheCopperDevelopmentAssociationandtheEuropeanCopperInstitute.
44
MajorUsesofCopper:IndustrialMachinery
andEquipment
Whereverindustrialmachineryandequipmentisfound,it
isasafebetthatcopperanditsalloysarepresent.Dueto
theirdurability,machinabilityandabilitytobecastwith
highprecisionandtolerances,copperalloysareidealfor
making products such as gears, bearings and turbine
blades.
The corrosion resistant properties of copper and copper

alloys (such as brass, bronze, and coppernickel) make
them especially suitable for use in marine and other
demandingenvironments.
Copper's superior heattransfercapabilitiesandabilityto

withstandextremeenvironmentsmakesitanidealchoice
forheatexchangeequipment,pressurevesselsandvats.
Vessels, tanks, and piping exposed to seawater,

propellers, oil platforms and coastal power stations, all
dependoncopper'scorrosionresistanceforprotection
ImagescourtesyoftheCopperDevelopmentAssociation.
45
Major Uses of Copper: Consumer and General

Products
From the beginning of civilization copper has been used
byvarioussocietiestomakecoinsforcurrency.
Today, countries are replacing

lower denomination bills with
copperbased coins, as these
coins last 10, 20 and even 50
timeslonger.
In the United States, one cent

coins and five cent coins contain 2.5% and 75% copper,
respectively,whileotherU.S.coinscontainapurecopper
core and 75% copper face.1 In the recently expanded
EuropeanUnion,theEurocoins,firstintroducedin2002,
alsocontaincopper.
Copper and copperbased products are used in offices,

households and workplaces. Computers, electrical
appliances,cookware,brassware,andlocksandkeysare
justsomeoftheproductsexploitingcopper'sadvantages.
Inaddition,inareasknowntobecopperdeficient,copper
isusedbyfarmerstosupplementlivestockandcropfeed.
ImagescourtesyoftheInternationalCopperAssociationandtheCopperDevelopmentAssociation.
Source: U.S. Department of the Treasury.
46
MajorUsesofCopper:UsagebyRegionandEndUseSector,2013
Basis:coppercontent,thousandmetrictonnes
Source:InternationalWroughtCopperCouncil(IWCC)andInternationalCopperAssociation(ICA)
Europe
19%
Industrial
12%
Americas
14%
Equipment
31%
Transport
12%
ROW
5%
Infrastructure
15%
Asia
62%
Building
Construction
30%
47
Chapter5:CopperRecycling
Copper is among the few

materials that do not degrade or
lose their chemical or physical
properties in the recycling
process. Considering this, the
existing copper reservoir in use
can well be considered a
legitimate part of world copper reserves. In the recent
decades, an increasing emphasis has been placed on the
sustainability of material uses in which the concept of
reuse and recycling of metals plays an important role in
the material choice and acceptance of products. If
appropriately managed, recycling has the potential to
extendtheuseofresources,andtominimizeenergyuse,
someemissions,andwastedisposal.
Closingmetalloopsthroughincreasedreuseandrecycling
enhancestheoverallresourceproductivityandtherefore
representsoneofthekeyelementsofsocietystransition
towards more sustainable production and consumption
patterns. It is widely recognized that recycling is not in
opposition to primary metal production, but is a
necessaryandbeneficialcomplement.
In 2012, ICSG estimates that more than 30% of copper
consumptioncamefromrecycledcopper.Somecountries'
copper requirements greatly depend on recycled copper
to meet internal demands. However, recycled copper
alone cannot meet society's needs, so we also rely on
copperproducedfromtheprocessingofmineralores.
ImagescourtesyoftheEuropeanCopperInstitute.
48
Copper Recycling Rate Definitions

The recycling performance of copper-bearing products
can be measured and demonstrated in various ways
depending, among other things, on objectives, scope,
data availability and target audience. The three
International Non-Ferrous Metal Study Groups in
conjunction with various metal industry associations
agreed on the common definitions of the three following
metal recycling rates:
The Recycling Input Rate (RIR) measures the
proportion of metal and metal products that are
produced from scrap and other metal-bearing lowgrade residues. The RIR is mainly a statistical
measurement for raw material availability and supply
rather than an indicator of recycling efficiency of
processes or products. The RIR has been in use in the
metals industry for a long time and is widely available
from statistical sources. Major target audiences for this
type of metallurgical indicator are the metal industry,
metal traders and resource policy makers. However,
given structural and process variables, it may have
limited use as a policy tool.
The Overall Recycling Efficiency Rate (Overall

RER) indicates the efficiency with which end of life
(EOL) scrap, new scrap, and other metal-bearing
residues are collected and recycled by a network of
collectors, processors, and metal recyclers. The key
target audiences of this particular indicator are metal
industry, scrap processors and scrap generators.
The EOL Recycling Efficiency Rate (EOL RER)
indicates the efficiency with which EOL scrap from
obsolete products is recycled. This measure focuses
on end-of-life management performance of products
and provides important information to target audiences
such as metal and recycling industries, product
designers, life cycle analysts, and environmental
policy makers.
49
ICSG Global Copper Recyclables Use, 2004-2012

Source: ICSG Recyclables Survey March 2014
2004
2005
2006
2007
2008
2009
2010
2011
2012
Americas
1,324
1,325
1,395
1,441
1,275
1,143
1,198
1,256
1,213
Asia
3,279
3,468
4,132
4,244
4,706
4,192
4,913
4,951
4,993
Europe
2,624
2,440
2,585
2,556
2,424
1,927
2,226
2,119
2,177
37
37
25
29
24
23
24
33
56
World / Total Scrap Use
7,269
7,279
8,141
8,279
8,437
7,290
8,365
8,366
8445
Scrap use Annual Growth
9%
0%
12%
2%
2%
-14%
15%
0%
1%
Secondary refined production
2,069
2,161
2,613
2,738
2,823
2,841
3,250
3,470
3,580
Cu content of Direct Melt
5,199
5,118
5,528
5,541
5,614
4,448
5,116
4,896
4,865
Refined Usage
16,838
16,674
17,034
18,196
18,053
18,070
19,346
19,830
20,550
Total copper usage
22,037
21,792
22,563
23,737
23,667
22,518
24,462
24,726
25,415
Recycling Input Rate (RIR)
33%
33%
36%
35%
36%
32%
34%
34%
33%
Asia
31%
32%
37%
34%
36%
30%
33%
33%
31%
Europe
42%
41%
41%
41%
42%
44%
45%
42%
45%
North America
29%
29%
32%
33%
32%
34%
33%
34%
33%
Rest of the World
13%
15%
15%
18%
16%
14%
12%
14%
14%
Africa & Oceania
50
ICSGGlobalCopperScrapResearchProjectandrecentscrapreports
Basedoninterestexpressedbymembercountries,ICSGlaunchedthecopperscrapmarketprojectin2007inordertoprovidegreatertransparencyonan
increasinglyvitalcomponentoftheworldcoppermarketatatimewhenglobalizationisreshapingthecopperscrapandcopperalloyrecyclingbusiness.The
finalreportoftheprojectwaspublishedinAugust2010.Inaddition,ICSGhascompletedanumberofnewdetailedreportsonNAFTA,European,Middle
EasternandChinesescraprecoveryandscrapsupplyinrecentyears.FormoreinformationaboutICSGworkrelatedtocopperscrap,pleasecontacttheICSG
Secretariatatmail@icsg.org
KeyDriversoftheGlobalCopperScrapMarket
ExpandingCopperMineProductionandRefinedCopper
Substitution
IndustrializationandEconomicGrowth
Prices
o CopperScrapPricesandSpreads
o RefinedCopperPricesandtheDemandforScrap
Chinesescrapmarketdevelopments
TheShiftinRegionalScrapProcessingCapacity
RegulationsonRecyclingandTrade
Technology
ICSGGlobalCopperScrapProjectReports
SurveyofBrassMills,CopperProductsandFoundriesinChina
(2014)
MiddleEastandNorthAfricaCopperUseStudy(2014)
CopperandCopperAlloyScrapSupplySurveyinEU27(2013)
CopperScrapMarketRecoveryinNAFTA(2012)
CopperScrapSupplySurveyinChina(2012)
SurveyonNonferrousMetalScrapandRefinedInputs&
ProductioninChineseSemisPlants(2012)
ICSGGlobalCopperScrapResearchProjectFinalReport(2010)
JapanScrapMarketReport
ChinaScrapUsageSurvey
51
The Flow of Copper

Trade
Concentrates/
Matte
Blister/
Anode
Production
Mining
SX/EW
Mine
Smelter
Scrap
Recycling
Refinery
By-products/
slag/ashes
Tailings
Scrap for
Smelting
incl. low grade
Wire rod
Refined
Usage
Chemicals
Hydromet.
Plant
Refined
Copper
Scrap for
Refining
Alloy
Ingot
Alloy
Metals
Semis
Net Trade
Fabrication
Wire rod plant /
Wire mill
Brass
mill
Foundry
Other Plants
Direct
Melt
987
Semis Supply
New Scrap
Low Grade
Residues
Ingot
Maker
scrap
alloys
refined
52
The Flow of Copper (cont.)

Finished
Products
Semis
Import
Product
Supply
Construction
Finished
Products
Copper
Reservoir
in Use
C&D
EOL
Products
Abandoned/
Stored/
Reused
End-of-Life
Products
Consumer/ Gen.
Other Uses
ELV
WEEE
MSW & Other
Recycling
losses new
scrap
Low grade
from Fabr.
INEW
IEW
Transport
End-of-Life Management
Ind. equipment
(EOL Management
adjusted for
export/reuse after
collection)
EOL
Products
Product Use
(Lifetime)
Manufacture
E&E Equipment
Net
Trade
Dissipative
Uses
Disposal/
Other Uses
Recycling
New
Scrap
Recycling
Old
Scrap
Scrap &
Low grade
Net Trade
Other Metal
Loops
53
IndustryGlobalFlowsofCopper(2012)andDerivedRecyclingRates
FiguresproducedfortheInternationalCopperAssociationbyFraunhoferISIbasedonEnviron.Sci.Technol.47(12),pp.65646572(freely
availableunderhttp://dx.doi.org/10.1021/es400069b).
Recycling
Indicator
Recycling Input
Rate
EoL Recycling
Input Rate
EoL Collection
Rate
EoL Processing
Rate
EoL Recycling
Rate
Overall
Processing Rate
Overall Recycling
Efficiency Rate
Old Scrap Ratio
Indicator value
(10-year avg.)
35%
19%
65%
68%
44%
80%
61%
53%
54
ANNEX
World Copper Production and Usage, 1960-2013
Thousand Metric Tonnes
Source: ICSG
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
Mine
Production
3,924
4,081
4,216
4,286
4,443
4,769
4,987
4,743
5,010
5,682
5,900
5,941
6,541
6,915
7,097
6,735
7,289
7,444
Refined
Production
4,998
5,127
5,296
5,400
5,739
6,059
6,324
6,004
6,653
7,212
7,592
7,404
8,100
8,544
8,759
8,187
8,632
8,884
Refined
Usage
4,738
5,050
5,048
5,500
5,995
6,193
6,445
6,195
6,523
7,137
7,291
7,296
7,942
8,740
8,310
7,445
8,539
9,057
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
Mine
Production
7,306
7,371
7,230
7,721
7,745
7,843
8,137
8,288
8,266
8,592
8,775
9,084
9,226
9,372
9,497
9,553
9,549
10,085
Refined
Production
9,030
9,200
9,261
9,573
9,319
9,541
9,440
9,616
9,920
10,148
10,512
10,908
10,804
10,686
11,042
11,249
11,124
11,832
Refined
Usage
9,527
9,848
9,396
9,522
9,090
9,510
9,930
9,798
10,112
10,293
10,668
11,081
10,886
10,563
10,866
10,992
11,560
12,043
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013p
Mine
Production
11,099
11,538
12,251
12,775
13,206
13,633
13,577
13,757
14,592
14,923
14,984
15,516
15,571
15,950
16,038
16,053
16,700
18,082
Refined
Refined
Production Usage
12,677
12,489
13,478
13,082
14,075
13,435
14,578
14,213
14,793
15,112
15,638
14,928
15,354
15,123
15,272
15,626
15,918
16,738
16,572
16,554
17,291
16,924
17,903
18,039
18,214
17,888
18,249
17,894
18,986
19,129
19,596
19,697
20,137
20,387
20,930
21,230
p - preliminary
55

Rua Almirante Barroso 38 6th
1000-013 Lisbon, Portugal
Tel: +351-21-351-3870 Fax: +351-21-352-4035
e-mail: mail@icsg.org
Web site: www.icsg.org
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The World Copper Factbook 2014

Increase market transparency by promoting an exchange of

As part of its mandate to provide a global forum where industry and

International Copper Study Group

The World Copper Factbook 2014

Mr Salim Bhabhrawala (U.S.A.)

Mr Bian Gang (China)

Mr Daniel Edelstein (U.S.A.)

Ms Marion Finney (Aurubis)

Mr Henrique Santos (Portugal)

Finance Committee Chairman

Mr Henrique Santos (Portugal)

Mr Mark Loveitt (IWCC)

Mr Piotr Krawczyk (Poland)

Director of Market Research and Statistics

Director of Economics and Environment

Manager of Statistical Analysis

International Copper Study Group

The World Copper Factbook 2014

International Copper Study Group

DIRECTORY OF COPPER & COPPER ALLOY FABRICATORS (FIRST USE)

The World Copper Factbook 2014

International Copper Study Group

The World Copper Factbook 2014

Copper is one of the most recycled of all metals. It is our ability to

International Copper Study Group

The World Copper Factbook 2014

Key Physical Properties of Copper

Specific Heat cp (at 293 K)

0.383 kJ kg-1 K-1

394 W m-1 K-1

Coefficient of linear expansion

16.5 x 10-6 K-1

Young's Modulus of Elasticity

110 x 109 N m-2

Electrical Conductivity (% IACS)

1.673 x 10-8 ohm-m

International Copper Study Group

Copper is essential to the health of plants, animal and humans.

The World Copper Factbook 2014

Anode. The positive terminal in an electrolytic cell where

International Copper Study Group

The World Copper Factbook 2014

International Copper Study Group

The World Copper Factbook 2014

Smelter production in 2013 reached

Refinery Production in 2013 increased to

According to the International Copper Association

New copper applications being developed include

International Copper Study Group

The World Copper Factbook 2014

International Copper Study Group

The output of electrorefining is refined copper cathodes, assaying over

The World Copper Factbook 2014

The World Copper Factbook 2014

International Copper Study Group

The World Copper Factbook 2014

Copper Mine Production by Country: Top 20 Countries in 2013

International Copper Study Group

The World Copper Factbook 2014

International Copper Study Group

The World Copper Factbook 2014

Concs & SX-EW

Anglo Amercian 75.5%, Mitsubishi Corp. 24.5%