Fitch Report Predicts Stable Growth to Global Copper Mine Output

SEATTLE (Scrap Monster): The global copper mine production is predicted to witness steady growth over the forthcoming years, says the latest report published by Fitch Solutions. It forecasts annual growth rate of 3.5% over the period from 2019 to 2028. Accordingly, the global output is predicted to surge from 21.4 mt to 28.7 mt during this period.

The industry-friendly policies and robust mine performance is expected to boost Chile’s annual copper production by 4%. The lower grades of copper will turn many Chinese unprofitable over the next few years. As a result, the country is likely to witness lag in copper production growth, as compared with the past several years. The Fitch report predicts solid production growth from other major markets including Peru, Congo and the U.S.

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Furthermore, Australia and Canada are likely to witness increased production, on account of a series of copper projects that are expected to go online over the next few years.