World copper mine output is projected to develop by 2.1% in 2025 to 23.4 million tonnes, up from 22.9 million tonnes in 2024. The modest development is primarily as a result of output declines in Australia and Indonesia, which is able to constrain world growth. Nevertheless, these shortfalls can be partly offset by manufacturing features in Zambia, Chile, Mongolia, the Democratic Republic of the Congo (DRC), and Peru.
Zambia, which accounted for 4.2% of worldwide copper output in 2024, is ready to ship the most important contribution to development in 2025. Output is projected to rise by 19.2% to 937.5 kilotonnes, pushed by the turnaround of ZCCM Funding Holdings’ Mopani mine. Investments are boosting underground improvement, modernising infrastructure, and bettering monetary well being. Further provide will come from Vedanta’s funding within the Konkola Copper Mine, signalling a brand new part for Zambia’s mining sector.
In Mongolia, the ramp-up of the Oyu Tolgoi underground mine, one of many world’s largest copper mines, will underpin development and supply a big medium-term contribution.
In Peru, greater output from China Minmetals’ Las Bambas complicated and the commissioning of the Chalcobamba pit in late 2024 are anticipated to elevate manufacturing to 360-400 kilotonnes in 2025, up from 322.9 kilotonnes in 2024. Sustained efficiency on the Ferrobamba pit may also bolster development.
The DRC’s output will rise with capability expansions at CMOC’s Tenke Fungurume and Kisanfu initiatives, together with progress within the Heshima Hydropower Undertaking that helps dependable power provide.
Chile, holding a 23% share of worldwide copper output in 2024, will see a modest 2% enhance in output in 2025 as key operations get well. Nevertheless, this can be offset by manufacturing declines on the Collahuasi and Los Bronces mines as a result of lower-grade ore and delayed infrastructure initiatives.
Canada will profit from improved grades at Teck Sources’ Highland Valley Copper (HVC) mine and the authorized HVC Mine Life Extension venture, extending operations to 2046 and sustaining a mean annual output of 132 kilotonnes.
Nevertheless, this development can be partially offset by deliberate decrease manufacturing Indonesia and Australia, the place mixed output is anticipated to fall from 1.8 million tonnes in 2024 to 1.5 million tonnes in 2025.
In Indonesia, output at PT Freeport Indonesia’s (PTFI) Grasberg Block Cave mine, one of many world’s largest copper-gold deposits, is ready to say no as a result of decrease ore grades and decreased working charges. Manufacturing was additional disrupted in September 2025, when a big stream of moist materials at one manufacturing block restricted entry and quickly suspended mining actions. Moreover, the Indonesian authorities’s ban on copper focus and anode sludge exports from 1 January 2025, has restricted exterior shipments, although PTFI obtained a brief six-month waiver as a result of delays in its new smelter attributable to a fireplace. In the meantime, Indonesia’s landmark free commerce settlement with the EU, concluded on 23 September 2025, eliminates duties on over 90% of products and is anticipated to boost entry to vital minerals akin to nickel and copper. This may increasingly form longer-term commerce flows, whilst near-term manufacturing stays constrained.
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