Largest Copper Mining Companies Ranked by Output

Largest copper mining companies, ranked by output

BHP is the largest copper miner on the latest reported figures: 1,953 thousand tonnes (kt) in its year to 30 June 2026, and it says its copper portfolio is the world’s largest (BHP operational review, 16 July 2026). Freeport-McMoRan (1,534 kt), Codelco (1,334 kt) and Zijin (1,090 kt) follow on 2025 calendar-year output. The major copper mine production news since 2025 is mostly about disruption: a mud rush at Grasberg, flooding at Kamoa-Kakula and an accident at El Teniente. For a country view, see our ranking of the largest copper-producing countries.

This page ranks 16 companies by the copper each one reported for its latest full year, explains why the order is hard to compare, and then lists the production events that moved the table. Output is in thousand metric tonnes (kt) of copper unless stated. One kt is 1,000 tonnes.

How we ranked the companies

We used each company’s own annual or year-end production report, because no single agency publishes a clean company league table. We included every company in our check that reported at least 380 kt of copper for its latest full year. Three rules keep the comparison honest.

• Reported basis, not adjusted. Companies count joint ventures differently. BHP reports Escondida at 100%. Freeport reports on a consolidated basis. Rio Tinto counts Oyu Tolgoi and Kennecott at 100% and Escondida at its 30% share. Zijin includes its attributable share of Kamoa. Codelco reports its own mines (1,334 kt) and a larger attributed figure (1,440 kt) that adds its stakes in El Abra, Anglo American Sur and Quebrada Blanca (Codelco, 27 March 2026). We used the own-mines number.
• Overlaps are real. Escondida, Antamina, Collahuasi and Las Bambas each appear in more than one owner’s figures, so the 16 totals must not be added together or divided by world output. The US Geological Survey puts world mine output at about 23,000 kt for 2025 (USGS Mineral Commodity Summaries, February 2026).
• Mined copper, not metal sold. The figures are copper contained in concentrate or cathode produced at mines. They are not refined metal from smelters that buy ore from others.

Mining terms used below: a concentrate is ore ground and floated into a copper-rich powder; a cathode is a nearly pure copper sheet made by leaching and electrowinning; grade is the percentage of copper in the rock; consolidated means the company counts 100% of operations it controls.

Top 16 copper producers in the world by company

The table gives the reported copper output, the period it covers, and the main operations behind it. BHP’s year ends in June, so its figure covers July 2025 to June 2026. All other figures are for calendar 2025.

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Reported copper output of the eight largest miners

Thousand tonnes; BHP is the year to June 2026, others calendar 2025

Sources by row: BHP; Freeport 10-K (3,383 million pounds consolidated, converted to tonnes); Zijin (1,085,126 tonnes mine-produced copper, Kamoa on an attributable basis); Nornickel (AK&M report on the company’s 2025 results, in Russian); Southern Copper; Rio Tinto; Glencore; CMOC; KGHM (payable copper); Anglo American; Antofagasta; MMG; Teck; First Quantum; Vale.

Profiles of the biggest copper companies

BHP: the largest copper portfolio

BHP produced about 2 Mt of copper for the second year running, with Escondida in Chile at 1,261 kt on a 100% basis. Escondida’s concentrator feed grade fell to 0.90% from 1.02% a year earlier, and BHP guides to 1,650 to 1,800 kt for the year to June 2027 for that reason. Best for: the most copper from one company. Watch: falling grade at its flagship mine.

Freeport-McMoRan: the biggest swing

Freeport’s consolidated copper fell from 4,214 million pounds in 2024 to 3,383 million pounds in 2025 after the Grasberg mud rush, a drop of about 20%. Its US mines produced a net 1,304 million pounds in 2025, up from 1,246 million (Freeport 10-K). Best for: seeing how one event can move a league table.

Codelco: the state-owned giant

Codelco’s own mines made 1,334 kt, up 0.5% on 2024, even though El Teniente fell 13% to 310 kt after a fatal accident. Chuquicamata fell 8% to 266 kt and Radomiro Tomic rose 9.2% to 295 kt. Reuters describes Codelco as Chile’s state miner (Kitco, 28 August 2026), so it has no listed share price. It names a new chief executive in 2026, Jorge Gomez, whose stated priority is to restore productivity at key mines.

Zijin: the largest Chinese copper miner

Zijin reported 1,085,126 tonnes of mine-produced copper in 2025 (including its attributable share of Kamoa; Zijin annual results, 22 March 2026) and set a 2026 target of 1.2 Mt. In its August 2026 half-year report Zijin said Kamoa-Kakula flooding could cut its attributable output by up to 57,000 tonnes and put the target under pressure (Bloomberg via MiningMX, 24 August 2026). It also states an aim to be among the world’s top three copper and gold producers by 2028 (Ghana News Agency, March 2026).

Southern Copper, Rio Tinto and Glencore

Southern Copper produced 954,270 tonnes in 2025, in line with its plan. Rio Tinto reached 883 kt on its consolidated basis, up 11% (this includes its 30% share of Escondida, which is also inside BHP’s 100% figure, and some refined metal, so it overlaps with BHP), as the Oyu Tolgoi underground mine ramped up. Glencore’s own-sourced copper fell 11% to 851.6 kt, mainly from lower head grades and recoveries at Collahuasi, Antamina and Antapaccay, then rose in the second half.

CMOC, KGHM, Anglo American and Antofagasta

CMOC produced a record 741,100 tonnes in 2025 from Tenke Fungurume and Kisanfu in the DR Congo, with a record fourth quarter of nearly 200,000 tonnes. KGHM’s group payable copper was 710 kt, of which 570.9 kt came from its Polish operations, 86.8 kt from Sierra Gorda on a 55% basis and 52.2 kt from KGHM International. Anglo American produced 695 kt, down 10%, and Antofagasta 653,700 tonnes at a net cash cost of US$1.19 per pound.

MMG, Teck, First Quantum and Vale

MMG raised copper output 27% to 506,899 tonnes, led by Las Bambas at 410,834 tonnes. Teck’s 453.5 kt came from Quebrada Blanca (190.0 kt), Highland Valley (127.1 kt), Antamina (85.9 kt) and Carmen de Andacollo (50.5 kt). First Quantum made 396 kt, 35 kt less than 2024, because Sentinel’s grades fell, while Kansanshi rose to 181 kt with its new S3 circuit. Vale reached 382 kt, its highest since 2018, on record output at Salobo. Nornickel, the Russian nickel and palladium producer, reported 425.3 kt of group copper for 2025, down 2%, including about 70 kt from its Trans-Baikal division (Nornickel investor data).

▶ Why an electric car starts as a hole in Chile, and how much copper one vehicle needs. · 6:03

Major copper mine production news: disruptions and restarts

These events explain most of the movement between 2024 and 2025 and the guidance changes for the next year.

• World total. The International Copper Study Group reports that world mine production fell 1% in the first seven months of 2026, with Chile down 7% and Indonesian concentrate down 29% while Mongolia rose about 18% (ICSG, 24 September 2026).
• Grasberg, Indonesia. A mud rush on 8 September 2025 killed seven people and stopped mining (Freeport 10-K). In the third quarter of 2026 the mill ran at about 140,000 tonnes of ore a day, around 67% of normal, and the smelter restarted in late August 2026. Freeport expects 80% of capacity in mid-2027 and nearly full capacity by the end of 2027 (Freeport, 2 October 2026).
• Kamoa-Kakula, DR Congo. Ivanhoe produced 388,838 tonnes there in 2025 (Ivanhoe Mines, 15 January 2026). After seismic activity and flooding, Ivanhoe cut 2026 guidance in April 2026 from 380,000-420,000 tonnes to 290,000-330,000 tonnes, and kept it in its Q2 2026 update (Ivanhoe Mines, Q2 2026; MiningMX, 24 August 2026). Zijin reports a share of it.
• El Teniente, Chile. Codelco’s own output fell 11% to 564 kt in the first half of 2026, mainly on restrictions at El Teniente, and the chairman said the 1.33 to 1.36 Mt target was hard to reach (Reuters via Kitco, 28 August 2026).
• Oyu Tolgoi, Mongolia. Rio Tinto says production rose 29% in the first nine months of 2026 and ran at about 450 kt a year in the third quarter (Rio Tinto, third-quarter 2026 results).
• Peru and Chile ore grades. Southern Copper’s output fell 3.8% to 461,206 tonnes in the first half of 2026 on lower grades at its Peruvian mines (Southern Copper, 21 July 2026). Antofagasta’s nine-month output was 436,900 tonnes, 8% lower, and it guides 625,000-655,000 tonnes for 2026 (Antofagasta, 15 October 2026).
• Glencore. Own-sourced copper was 397 kt in the first half of 2026, up 15%, and it kept its 810-870 kt guidance after selling the Kidd mine on 1 June 2026 (Glencore, half-year 2026).

Anglo American and Teck: would the merger change the ranking?

Anglo American and Teck announced a merger of equals on 9 September 2025. Shareholders approved it on 9 December 2025 and Canada approved it under the Investment Canada Act (Anglo American, 16 December 2025). On 20 October 2026 Anglo still expected completion by March 2027, with China’s competition regulator the last approval outstanding (MLex, 20 October 2026). Press reports say the regulator wants guaranteed copper concentrate supply to Chinese smelters (Reporte Minero, 5 October 2026).

Adding the two companies’ 2025 reported figures (695 kt and 454 kt) gives about 1,149 kt. On that simple sum the combined group would sit fourth in the table, behind Codelco and ahead of Zijin. The deal has not closed, so the table keeps them separate.

What guidance says about the next ranking

Company guidance suggests a more crowded top five. BHP guides lower because of Escondida’s grade, Zijin targets growth, Teck expects Quebrada Blanca to lift output, and Rio and Glencore sit near their 2025 levels. Guidance is a forecast and can change. Rio Tinto’s 2026 copper range is 800-870 kt (Rio Tinto), and Teck’s is 455-530 kt (Teck, February 2026).

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Reported output against next-year guidance

Thousand tonnes; BHP compares the year to June 2026 with the year to June 2027

Copper price and what a tonne of output is worth

Price decides what these volumes earn. The LME cash settlement price was US$14,415 per tonne on 23 October 2026, against a monthly average of US$8,978 in January 2025 (Westmetall, LME copper cash settlement). Prices change daily, so check the live figure before you use it. BHP said its realised copper price was 35% higher than a year earlier, at US$5.74 per pound for the year to June 2026.

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LME copper cash price, quarterly snapshots

US$ per tonne, monthly average of the cash settlement price (October 2026 is to the 23rd)

The calculator below turns a production figure, a price and a unit cost into annual revenue and margin. Use it to test a company’s output at your own price. The cost input is an example for net cash cost, which is the cost per pound after by-product credits such as gold and molybdenum. Freeport, for instance, expected about US$2.10 per pound for the third quarter of 2026 (5% above its July estimate of US$2.00), and Codelco reported a direct cost of 208.6 US cents per pound for 2025.

How to read a copper production report

Before you compare two companies, check six things in each report.

1. Period. Calendar year, or a fiscal year such as BHP’s year to June.
2. Basis. Is a joint venture counted at 100%, at the company’s share, or fully consolidated? Escondida is one mine, but the answer changes the table.
3. Metal type. Copper in concentrate, cathode, or payable copper after smelter deductions.
4. Guidance range. Companies issue a low-to-high range, and the middle is a forecast, not a result. Glencore, for example, guides 810 to 870 kt for 2026.
5. Grade and recovery. Falling grade is the most common reason output drops. Escondida’s feed grade fell from 1.02% to 0.90%.
6. Unit cost. Net cash cost per pound shows who earns most per tonne. Glencore’s copper net unit cash cost was 208.4 US cents per pound in the first half of 2026, down from 240.6 cents a year earlier, helped by higher copper volumes.

Why company rankings differ from country rankings

Country tables use mine output inside borders. Company tables follow ownership, so one mine can count for two or three companies and one company can run mines in six countries. Chile leads the country list, yet its mines are split between Codelco, BHP, Glencore, Anglo American, Antofagasta and Teck. The DR Congo’s output sits with Glencore, CMOC, Ivanhoe, Zijin and MMG, so no single company dominates either country’s total.

A second difference is the stage measured. A smelter owner can be among the biggest copper metal producers while mining little. This page ranks mined copper. Refining and smelting rankings follow a different order, with China ahead on refined output (USGS, 2026).

How large producers use technology on the mine

Large operators run automated haul trucks, sensors on drills and blasts, and digital planning tools. For background see our guides to Escondida’s innovations, drill and blast monitoring software and digital transformation providers in mining.

For licence owners and consultants, the same producers are useful as benchmarks: their reported grades, recoveries and cash costs show what a working porphyry or sediment-hosted operation looks like at scale.

The next ranking will be decided by discovery as much as by operations. Satellite imagery cannot count tonnes, but it can screen a licence area for alteration and structure before a drill is ordered. Farmonaut does this for exploration targets, which are early leads and not resource estimates.

▶ A short look at Farmonaut Mining Pro, which turns a licence boundary into a geological and economic picture. · 4:56

Frequently asked questions

Who is the biggest copper mining company in the world?

BHP, with 1,953 kt in its year to 30 June 2026. Among calendar-year 2025 reports, Freeport-McMoRan leads at about 1,534 kt, ahead of Codelco at 1,334 kt.

Which company has the largest single copper mine?

Escondida in Chile, operated by BHP, produced 1,261 kt in the year to June 2026 on a 100% basis (BHP). That is more than the total of any company ranked 12th or lower.

Is Codelco still the largest copper producer?

Codelco ranks third in this table. Its own output was 1,334 kt in 2025 and fell 11% in the first half of 2026.

Why did Freeport’s output fall so much?

The Grasberg mud rush of 8 September 2025 stopped mining at the site. Consolidated production fell about 20% in 2025 and the mine is still ramping up.

What is the difference between mined, payable and refined copper?

Mined copper is the metal contained in what the mine produces. Payable copper is the part a buyer pays for after smelter deductions, which KGHM reports. Refined copper is cathode made by a smelter or refinery.

Which copper companies are in Africa?

CMOC runs Tenke Fungurume and Kisanfu in DR Congo, Glencore runs KCC and Mutanda, Ivanhoe and Zijin share Kamoa-Kakula, and First Quantum runs Kansanshi and Sentinel in Zambia.

How much copper does the world mine in a year?

The USGS estimates about 23,000 kt in 2025, with Chile at 5,300 kt and the DR Congo at 3,200 kt (USGS, 2026). Company figures overlap, so they do not add up to a share of that total.

Where would Anglo Teck rank?

On a simple sum of 2025 reported output, about fourth. The merger had not completed at the end of October 2026.

Where can I find the next production figures?

BHP, Rio Tinto, Anglo American, Glencore, Freeport and Antofagasta publish quarterly production reports on their investor pages. Codelco publishes half-year and year-end results. Check the period and basis in each before you compare.

Is this investment advice?

No. The page lists reported production only. It does not rate any company or say whether to buy or sell a share.