BERN: Global copper mine production capacity until 2018 is expected to grow at an average annual rate of around 6% to reach 27.5 million mt/year in 2018, data released by the International Copper Study Group showed.
Concentrate production capacity will represent 84% of the growth (4.8 million mt,) with solvent-extraction/electrowinning production capacity representing 16% (900,000 mt), the Lisbon-based research group said in a biannual report. Compared with a previous estimate published in January, anticipated annual mine production capacity for 2017 and 2018 was revised down around 330,000 mt and 140,000 mt, respectively, owing mainly to continued delays for many projects, ICSG analysts said.
During the 2015-2018 period, copper in-concentrate capacity is expected to increase by 6.5%/year to reach 21.8 million mt/year in 2018, while solvent-extraction/electrowinning capacity is expected to increase at a slower rate of 4.4%/year to reach 5.7 million mt/year in 2018. “Peru is projected to account for 26% of the additional capacity from new mine projects and expansions through 2018, followed by Zambia, Mexico, Mongolia, China and the Democratic Republic of the Congo,” the ICSG said. “Together these six countries will represent 66% of the world growth.”
Projects are also being planned in countries that currently do not mine copper, including Afghanistan, Ecuador, Ethiopia, Fiji, Greece.
