In 2019, some large copper producers have published their copper output reports in 2018. SMM has sorted out the copper output of several well-known copper mining enterprises in 2018 and their planned output in 2019 for readers’reference. Meanwhile, SMM predicts that the global copper production will increase by about 500,000 tons in 2019, with a growth rate of 2.4%.
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Antofagasta’s annual copper output in 2018 was 725,300 tons, up 3% from a year earlier.
Antofagasta’s copper production jumped to 220,000 tons in the fourth quarter of 2018, up 16.8% from the previous quarter and 177,800 tons in the same period last year. The company’s total copper output in 2018 was 725,300 tons, an increase of 3% over the previous year. The company expects to increase capital expenditure by 2019, expected to reach $1.2 billion, some of which will be used to expand its Luos Pelambres mine in Chile. Copper production in the mine already accounts for half of Antofagasta’s copper production.
The latest news company is evaluating a project to build a new concentrator at Centinela Mine at a cost of about $3 billion. The company expects copper production to be between 750,000 and 790,000 tons in 2019.
Copper output of Minmetals Minerals decreased by 15% to 386,800 tons in 2018
Minmetals Resources (01208) announced that Kinsevere produced 185,000 tons of electrolytic copper in the fourth quarter of the three months ending December 31, 2018, a 9% decrease over the same period last year. In 2018, the output of Kinsevere electrolytic copper was 79.7 million tons, a decrease of 1% compared with the same period last year. The company’s copper output totaled 386,800 tons, down 15% year-on-year; zinc output 223,000 tons, up 198% year-on-year; lead output 454,000 tons, up 71% year-on-year; molybdenum output 1961 tons, up 37% year-on-year.
OZ Minerals Australia’s copper production in 2018 was better than expected by 3.5% year-on-year growth.
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On January 23, Australian mining giant OZ Minerals announced that gold and copper production in 2018 was better than expected. Oz said that copper production in 2018 was 115,998 tons, including 110,111 tons of copper from the large Prominent Hill mine, which was higher than the previously estimated range of 100,000 to 110,000 tons. The mine’s copper output in 2017 was 112,008 tons. Oz Minerals expects to produce 95,000-105,000 tons of copper in January last year.
Oyu Tolgoi expects to produce 125,000-155,000 tons of copper in 2019 and become the third largest copper producer in the world by 2025.
Oyu Tolgoi expects to produce 125,000-155,000 tons of copper this year. In 2018, Mongolian copper and gold mines will produce 159,100 tons of copper, an increase of 1.1% over 2017. Turquoise Hill expects Oyu Tolgoi copper production to peak in 2025 and become the third largest copper producer in the world. Turquoise Hill expects the company to produce more than 550,000 tons of copper and more than 450,000 ounces of gold annually from 2025 to 2030, both from the Oyut open pit and the Hugo North (Lift One) underground mining project. Turquoise Hill said open-pit mining is expected to enter Phase 4 this year, with plant capacity expected to be about 40 million tons. Meanwhile, the company expects underground development to advance 15-16 kilometers.
Rio Tinto: In 2018, copper production in mines increased by 33% to 633,500 tons compared with the same period last year.
Rio Tinto PLC, Australia, released its operating report for 2018 in mid-January, in which it reported that copper production in mines in 2018 was 633,500 tons, an increase of 33% over the previous year. It is estimated that the output of copper in mines will be between 550,000 and 600,000 tons in 2019, and that of refined copper will be between 220,000 and 250,000 tons in 2019. For its Kennecott Copper Mine, the company said last year’s copper production grew by 37% year-on-year, as mining continued to be active in a high-grade open-pit copper production area and production efficiency improved.
First Quantum has a record copper production and sales in 2018
The Toronto Stock Exchange-listed Copper Miner First Quantum Corporation announced record copper production and sales in 2018. The total output of copper in 2018 was 605,853 tons, and 573,963 tons in 2017, an increase of 6% over the previous year. Copper sales in 2018 were 596,513 tons and 580,130 tons in 2017, an increase of 3% over the previous year.
The output of copper in Kansanshi mine in Zambia increased from 250,801 tons in 2017 to 251,552 tons in 2018; the output of Mauritania decreased slightly to 28,137 tons (28,791 tons in 2017); the output of Piayeli mine in Turkey increased by 19,896 tons (compared with 16,523 tons); the output of copper in Pyhsalmi mine in Finland decreased from 13,501 tons in 2017 to 11,904 tons, with sales falling from 13,691 tons. Tons fell to BHP Billiton’s copper production in 2018 is basically the same as last year’s target increase of copper production in 2019
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BHP Billiton cancelled the sale of Cerro Colorado Copper Mine and increased its copper production target to between 1.645 million tons and 1.74 million tons. In the second half of 2018, the group output converted by copper production remained basically unchanged, and the annual output is expected to be the same as last year. It is expected that all major assets of the Group will meet the annual unit cost target, which is in line with the higher expected output in the second half of the year. However, due to the planned equipment maintenance and shutdown events, unit cost in the second half of 2018 exceeded the guidance target for the whole year.
In the second half of 2018, unplanned production disruptions at Olympic Dam, Spence Copper and WAIO resulted in some impacts on production during the half-year reporting period up to the end of December 2018, resulting in a negative impact of about $600 million.
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