Global Copper Powerhouses: The 10 Biggest Copper Companies Shaping the Industry

The race for copper is heating up. With electric vehicles, renewable energy infrastructure, and urbanization driving unprecedented demand, the world’s biggest copper companies are becoming increasingly critical to global energy transition goals.

Why Copper Matters Now

Copper hit US$10,954 per metric ton on the London Metal Exchange in May 2024—an all-time record. The surge reflects a fundamental supply-demand imbalance: mining output simply cannot keep pace with rising consumption. Beyond traditional construction and electrical grids, emerging demand drivers include EV charging networks, energy storage systems, and the electrical infrastructure needed to support rapid urbanization across the Global South.

The challenge? Finding and developing new copper deposits takes decades. Most major players are betting on expanding existing operations rather than greenfield projects, making operational efficiency the name of the game.

The Top 10 Biggest Copper Companies by Production

1. BHP – 1.46 Million Metric Tons

BHP dominates global copper production with its diversified asset portfolio spanning Chile, Peru, and Australia. Its crown jewel is a 58% stake in Escondida, the world’s largest copper mine, which delivered 2.04 billion pounds in 2024. The company’s Pampa Norte operations in Chile contributed another 586 million pounds, while its Olympic Dam polymetallic mine in Australia—hosting massive copper and uranium reserves—rounded out its portfolio.

2. Codelco – 1.44 Million Metric Tons

Chile’s state-owned Codelco cemented its position as the world’s second-largest copper producer, slightly edging up production year-over-year. Its Chuquicamata mine, transitioning from open-pit to underground operations, produced 637 million pounds in 2024 after a period of grade challenges. The company’s portfolio also includes El Teniente, Quebrada Blanca, and Andina, all contributing to its dominant position.

3. Freeport-McMoRan – 1.26 Million Metric Tons

Freeport maintains its perch among the world’s leading copper miners through strategic operations across multiple continents. Grasberg in Indonesia—the company’s largest contributor—is undergoing transformation to underground block cave mining and produced 1.8 billion pounds in 2024. Its 55% stake in Cerro Verde (Peru) and 72% ownership of Morenci (Arizona) provide geographic diversification and long-term production stability through 2052.

4. Glencore – 951,600 Metric Tons

Glencore’s copper output slipped 6% in 2024 due to planned production cuts at key assets. Its 44% stake in Collahuasi, Chile’s second-largest copper mine, produced 558,600 metric tons despite water constraints and geotechnical challenges. The company is betting on a new desalination facility (86% complete in 2024) to unlock additional production by 2026, which will deliver 1,050 liters of fresh water per second via a 194-kilometer pipeline.

5. Southern Copper – 883,462 Metric Tons

Southern Copper, majority-owned by Grupo Mexico, reversed a downtrend with a 6.9% production increase in 2024. Peruvian operations surged 10.7%, while Mexican mines grew 4.3%. The Buenavista mine in Northern Mexico—sitting atop one of the world’s largest porphyry copper deposits—anchors the company’s portfolio, producing approximately 700-750 billion pounds annually.

6. Anglo American – 772,700 Metric Tons

Anglo American’s copper production declined 6.5% in 2024 due to operational headwinds at Collahuasi and Los Bronces in Chile. The company’s 60% stake in the Quellaveco mine (Peru), which opened in 2022 and produced 675 million pounds that year, offers growth potential. Its joint ventures—including a 50% interest in El Soldado with Mitsui and Mitsubishi—diversify risk across the region.

7. KGHM Polska Miedz – 729,700 Metric Tons

Poland’s KGHM controls operations spanning Europe, North America, and South America, with over 40 million metric tons of copper ore resources globally. The company’s Polkowice-Sieroszowice mine in Western Poland—operational since 1968—produces 430-440 million pounds annually. Its Sierra Gorda mine in Chile (55% owned) and Robinson mine in Nevada provide additional production and geographic exposure.

8. CMOC Group – 502,600 Metric Tons (Attributable)

CMOC’s meteoric rise into the top 10 reflects surging production from its Democratic Republic of the Congo operations. The Tenke Fungurume mine (80% stake with Gecamines) nearly quintupled its output since 2020, hitting 992 million pounds in 2024. The Kisanfu mine (71% CMOC, 24% Contemporary Amperex Technology, 5% DRC government) more than doubled production to 200,013 metric tons in 2024.

9. Antofagasta – 448,800 Metric Tons

Antofagasta’s Chilean portfolio delivered steady growth in 2024. Los Pelambres (60% owned with Mitsubishi) produced 320,000 metric tons, while Centinela churned out 224,000 metric tons. The company is constructing a second concentrator at Centinela, expected online in 2027, which will add 144,000 metric tons annually and extend the mine’s life to 2051.

10. Teck – 358,910 Metric Tons (Attributable)

Canada’s Teck surged 50% in consolidated copper production during 2024, reaching 446,000 metric tons attributable basis. The Quebrada Blanca mine in Chile—where Teck holds 60% (Sumitomo 30%, Codelco 10%)—accelerated dramatically, producing 458 million pounds in its second year of operation. The company’s Highland Valley mine in British Columbia generated another 226 million pounds.

The Takeaway

The biggest copper companies are executing a careful balancing act: managing mature assets while ramping up strategic expansions. As demand pressure continues and new supply remains constrained, operational excellence and cost control will separate winners from the rest of the pack.