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Institution: Global copper production is expected to rise due to soaring prices.
Jin10 data July 10 news, BMI Research Company stated that driven by new projects and mine expansions, as well as copper prices hitting new highs, global copper mine production is expected to continue to rise in the coming years. BMI predicts that global copper production will average an annual rise of 2.9% between 2025 and 2034, reaching 30.9 million tons by 2034, while the production in 2025 is expected to be 23.8 million tons. Influenced by Trump’s 50% tax rate on copper, copper prices soared to a historic high this week. BMI stated: “We now expect global copper mine production to rise in 2025, benefiting from the recovery of Chilean production and the ongoing expansion of the Oyu Tolgoi mine in Mongolia, while Peru, Russia, and Zambia will continue to be major copper-producing countries.”