As global pressure builds to transition toward clean energy, the world’s copper mines are under increasing scrutiny. Copper is central to nearly every facet of the modern economy—used in everything from electric vehicles to infrastructure and power grids. With that demand expected to rise sharply, the world’s biggest copper producers are working to keep pace. Mining giant BHP (ASX:BHP) projects global copper demand will soar 70% by 2050, hitting 50 million tonnes per year. BloombergNEF has pegged the required investment to meet broader raw materials needs—of which copper plays a central role—at $2.1 trillion by the middle of the century. The race is on not only to discover new reserves but to ramp up output at existing operations.

Here’s how the ten largest copper mines performed in 2024 as they remain central to the energy transition narrative.

Escondida Leads Global Output

The Escondida mine in Chile retained its position as the top copper producer worldwide. Output climbed 16% in 2024 to reach 1.28 million tonnes. The site is operated by BHP, which holds a 57.5% stake. Rio Tinto owns 30%, and the remainder is held by Japan’s Mitsubishi and JX Advanced Metals.

Escondida’s production jump was aided by BHP’s broader expansion strategy. In February, the company announced it would invest $2 billion into optimizing the mine’s concentrator—part of a larger $10.8 billion plan revealed last year to improve and extend operations across its copper portfolio. In the first quarter of 2025 alone, BHP reported a 10% rise in copper production, crediting the ramp-up at Escondida.

Indonesia’s Grasberg Rebounds

Grasberg, located in Indonesia and jointly owned by Freeport McMoRan and PT Mineral Industri Indonesia, secured second place with 816,466 tonnes in 2024—an increase of 8.4% over the previous year. After weather-related disruptions in 2023, including floods and landslides that damaged milling infrastructure, operations returned to normal, boosting annual output.

Collahuasi Output Slips Slightly

Third on the list is the Collahuasi mine, another major site in Chile. Co-owned by Glencore, Anglo American, and Mitsui, the mine produced 558,636 tonnes in 2024. That figure marked a 2.5% decrease from 2023, when production totaled just over 573,000 tonnes.

Kamoa-Kakula Expands Operations

The Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC) ranked fourth, with production up 11% to 437,061 tonnes in 2024. The mine, which is jointly owned by Ivanhoe Mines, Zijin Mining, the DRC government, and Crystal River Global, gained attention in 2023 for being the lowest carbon-emitting major copper mine in the world.

Buenavista Maintains Steady Growth

In Mexico, the Buenavista mine produced 433,000 tonnes of copper in 2024, making it the fifth-largest globally. The figure represents a 4% year-on-year rise. Operated by Southern Copper, a Grupo Mexico subsidiary, Buenavista has been in continuous operation since 1899, making it the oldest copper mine in North America still producing.

Cerro Verde Sees Decline

Cerro Verde in Peru produced 430,459 tonnes in 2024, placing it sixth among global copper mines. The output marked a 3.7% drop from the previous year. The open-pit mine is operated as a joint venture involving Freeport McMoRan, Buenaventura, and Sumitomo.

Antamina Edges Lower

Another Peruvian mine, Antamina, ranked seventh. Co-owned by Glencore, BHP, Teck Resources, and Mitsubishi, the mine recorded 413,000 tonnes of copper output in 2024, representing a 2.1% decrease from 2023.

Tenke Fungurume Jumps After Investment

The Tenke Fungurume mine in the DRC posted one of the largest year-over-year production increases among the top ten. Estimated 2024 output reached 400,000 tonnes—a 42.7% jump. China’s CMOC, which jointly owns the mine with Congo’s state-controlled Gécamines, completed a $2.51 billion expansion project in 2023 aimed at doubling capacity. The boost in 2024 reflects the first full year of operations following the expansion.

Poland’s KGHM Stable

In Europe, the only mine to make the list was KGHM Polska Miedz, located in Poland. The mine produced an estimated 395,160 tonnes in 2024, a nearly unchanged figure compared to its 2023 output of 395,400 tonnes.

Russia’s Polar Division Rounds Out the Top Ten

The final entry on the list is the Polar Division copper mine, owned by Norilsk Nickel. Located in Russia, the mine produced approximately 345,000 tonnes in 2024—up 6.3% from 324,600 tonnes the year before.

Together, these ten mines accounted for over 5.8 million tonnes of copper production in 2024, underscoring their central role in meeting global supply needs. With copper demand projected to keep climbing and infrastructure across the globe leaning more heavily on the metal, pressure will remain on these sites—and their operators—to continue expanding.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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