The Directory projects an average annual growth rate of around 0.5% to copper smelter capacity from 2022 to 2026.
SEATTLE (Scrap Monster): The International Copper Study Group (ICSG) announced publication of the latest edition of its bi-annual Directory of Copper Mines and Plants. It provides facility-by-facility production capacity across the globe and country-wise summary of capacities through to 2026.
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According to ICSG, low yearly growth of around 1% was witnessed during the period from 2017 to 2020, as no major mines except Cobre de Panama were commissioned during this period. The last few years saw postponement of previously announced projects and expansions. However, over the period from 2022 to 2026, ICSG expects copper mine capacity to increase at an average rate of 3.5% per year. This will be led by Chinese overseas investment projects, especially in Africa.
The Directory projects an average annual growth rate of around 0.5% to copper smelter capacity from 2022 to 2026. China will continue to expand its copper smelting capacity, but at a slower pace than before. Apart from China, new copper smelters, expansions or upgrades are planned in the D.R. Congo, Indonesia, Iran, Russia, Serbia, South Africa, the United States, Uzbekistan and Zambia.
Also, annual copper refinery capacity is expected to grow at an average rate of around 2.5% per year.
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