World refined copper output in December was 2.11 million tonnes, while consumption was 2.2 million tonnes. Production amounted to 24.5 million tonnes and 25.33 million tonnes of consumption for the year.
The ICSG said mine production grew by around 2.3% in 2021 but noted this compared to a low 2020 basis when rolling global lockdowns severely impacted the copper mining industry to stem the spread of covid-19. The average annual growth over 2019-2020 was only 0.3%.
Because of the lockdowns, production in Chile, the world’s largest copper mine producing country, was down by 1.9% in 2021, with concentrate production falling by 1.3% and SX-EW output declining by 3.6%, mainly at the Escondida mine. Chilean 2021 total production was 2.8% below that of 2019.
Output in Peru, the world’s second-largest copper producing country, increased by about 7% primarily since the Peruvian mining industry was one of the most severely impacted by a…
