Trends in the costs of copper production

The International Council on Mining and Metals' (ICMM) latest report on the role of mining in national economies (2nd edition) ranks the world’s 214 economies according to the importance of mining and metals.The report extends the analysis of that in the first edition to capture the recent downturn in the mineral prices (2010-2012).

From the perspective of mining companies, higher prices have not always translated into higher profit margins, as production costs have increased considerably as well (see below). Factors for increasing production costs include increased demand for inputs, lower ore grades, more complex mineralogy, deeper more remote deposits, increasingly rigorous regulatory standards, and  increased salary costs.

 

ICMM copper production costsDownload the full report.

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