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Copper April 04, 2018 11:30:46 AM

ICSG Announces Publication of Recent Trends in Mine, Smelter and Refinery Production

Paul Ploumis
ScrapMonster Author
The copper refinery capacity across the world is expected to witness 3% annual average growth through 2021.

ICSG Announces Publication of Recent Trends in Mine, Smelter and Refinery Production

SEATTLE (Scrap Monster): The International Copper Study Group (ICSG) has announced the release of a new publication that provides a summary of global copper production capacities and the key projects that are expected to be developed over the next ten years. The report also summarizes the recent trends in copper mine, smelter and refinery production, based on research undertaken by the ICSG secretariat and updated information received from ICSG member countries.

According to ICSG, the global copper mine capacity is likely to report average annual growth of around 2%. It foresees a lower yearly growth of 1% in 2018/2019. However, the growth is likely to peak up to 3% in 2020/2021, as expansions and new projects come on stream. The output from currently operating mines is likely to remain essentially unchanged through 2021. Continued delays in project approval and execution have resulted in shifting of new capacity forward. However, the trend seems to be changing, of late, ICSG said. The biggest contributors to the anticipated growth in world copper mine capacity are China, the DRC, Iran, panama, Peru, the US and Zambia.

ALSO READ: World Refined Copper Market Plummeted to Massive Deficit in 2017

Through 2021, the annual copper smelting capacity is likely to grow by 3.5%., primarily on account of expansion by Chinese smelting capacity. The country is likely to account for nearly 70% of the global smelting capacity growth. The Chinese copper smelting capacity is expected to increase by 30% by 2021. The planned new copper smelters in Indonesia and Mongolia and expansions in India, Iran and Poland too may add to smelting capacity expansions during this period.

The copper refinery capacity across the world is expected to witness 3% annual average growth through 2021. Almost 90% of the projected growth is expected to come from electrolytic refineries.

 

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