Our Copper Business
Copper is an essential material for modern consumer products, power generation and transmission, and construction. As the global middle class continues to grow and populations increasingly become urbanized, the global demand for copper will increase – lighting homes, powering cities, and improving the quality of life for people around the world.
In 2013, we produced 364,000 tonnes of copper at our five copper mines including: Quebrada Blanca and Carmen de Andacollo in Chile; Antamina in Peru; and Highland Valley Copper and Duck Pond in Canada. We have substantially completed a mill optimization program at Highland Valley, as well as the construction of a new copper concentrator at Carmen de Andacollo. We also have projects underway to expand capacity and increase the working lives of several of our other copper mines.
In addition, we are actively exploring and assessing development opportunities for new copper deposits in Canada, Chile, Mexico, the United States, Namibia, Peru, Turkey and Australia.
Our business is well positioned to benefit from an increase in demand for copper to support the development of emerging markets, notably in China and India. Currently, approximately 70% of our copper production is sold into the Asia-Pacific region.
The increased demand for copper use is also supported by the expansion of green technology; for example, a hybrid vehicle requires 13-23 more kilograms of copper than a non-hybrid vehicle and a wind turbine requires more than three tonnes of copper.
Last updated: December 2013