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The World Copper Factbook 2014

AboutICSG

ThecurrentmembersofICSGare:

TheInternationalCopperStudyGroup(ICSG)wasformallyestablished
as an autonomous intergovernmental organization on 23 January
1992,followingaseriesofAdHocmeetingssponsoredbytheUnited
Nations (UNCTAD) in 1986 and 1987 to review the world situation of
copperanddiscusstheneedforsuchabody.ICSGservestoincrease
copper market transparency and promote international discussions
andcooperationonissuesrelatedtocopper.
In order to fulfill its mandate, the Study Group has three main
objectives:

Increase market transparency by promoting an exchange of


informationonproduction,consumption,stocks,trade,andprices
of copper, by forecasting production and consumption, and by
assessing the present and future capacities of copper mines,
plants,smeltersandrefineries.
Promoteinternationalcooperationonmattersrelatedtocopper,
such as health and the environment, research, technology
transfer,regulationsandtrade.
Provideaglobalforumwhereindustryandgovernmentscanmeet
and discuss common problems/objectives. The ICSG is the only
intergovernmentforumsolelydedicatedtocopper.

Australia

Japan

Belgium
Chile
China
European
Union
Finland
France
Germany
Greece
India

Luxembourg
Mexico
Peru

Iran

UnitedStates

Italy

Zambia

Poland
Portugal
RussianFederation
Serbia
Spain
Sweden

As part of its mandate to provide a global forum where industry and


governmentscanmeetanddiscusscommonproblemsandobjectives,
ICSGmeetingsareheldtwiceperyear,typicallyintheSpringandFall
at ICSG Headquarters in Lisbon, Portugal. The meetings of the Study
Groupareopentogovernmentmembers,theirindustryadvisorsand
invitedobservers.

International Copper Study Group

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The World Copper Factbook 2014

ICSGOfficersandSecretariat
INTERNATIONAL COPPER STUDY GROUP OFFICERS FOR 2014
Chairman

Mr Salim Bhabhrawala (U.S.A.)

Vice-Chairman

Mr Bian Gang (China)

STATISTICAL COMMITTEE
Chairman

Mr Daniel Edelstein (U.S.A.)

Vice-Chairman

Ms Marion Finney (Aurubis)

Vice-Chairman

Mr Li Yusheng (China)

STANDING COMMITTEE
INDUSTRY ADVISORY PANEL
Chairman

Mr Henrique Santos (Portugal)

Vice-Chairman

Vacant

Finance Committee Chairman

Mr Henrique Santos (Portugal)

Chairman

Mr Mark Loveitt (IWCC)

SECRETARIAT
ENVIRONMENTAL AND ECONOMIC COMMITTEE
Secretary-General

Mr Don Smale

Chairman

Mr Piotr Krawczyk (Poland)

Director of Market Research and Statistics

Ms Ana Rebelo

Vice-Chairman

Mr K D Diwan (India)

Director of Economics and Environment

Mr Carlos Risopatron

Manager of Statistical Analysis

Mr Shairaz Ahmed

Secretary

Ms Fatima Cascalho

Contacts:
InternationalCopperStudyGroup
RuaAlmiranteBarroso,386
1000013Lisbon,Portugal
Tel:+351213513870
Fax:+351213524035
email:mail@icsg.org
website:www.icsg.org

International Copper Study Group

AcknowledgementsandCopyright:
ICSG would like to thank the International Wrought Copper Council, the
International Copper Association, the Copper Development Association,
the European Copper Institute, the U.S. Geological Survey, the U.S.
National Park Service, the British Museum and Mr Luis Hernn Herreros
InfantefortheircontributionstotheFactbook.
TheInternationalCopperStudyGroup'sWorldCopperFactbook2014is
publishedbytheICSG.

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The World Copper Factbook 2014

ICSGPublications
COPPERBULLETIN(monthly).TheICSGCopperBulletinincludesannual
andmonthlystatisticsoncopperandcopperproducts,theirproduction,
usage and trade by country, as well as stocks and exchange prices,
providing a global view of supply and demand. Subscribers to the
Copper Bulletin receive the Yearbook as part of their annual
subscription.
ICSG2014STATISTICALYEARBOOK(September2014).TheICSGCopper
Bulletin yearbook includes annual statistics on copper and copper
products,theirproduction,usageandtradebycountry,aswellasstocks
andexchangeprices,providingaglobalviewofsupplyanddemandfor
thepast10years.TheYearbookservesasausefultoolforconsultations
and analysis on the longer term evolution of world copper production,
usage,stocksandprices.SubscriberstotheCopperBulletinreceivethe
Yearbookaspartoftheirannualsubscription.
DIRECTORY OF COPPER MINES AND PLANTS (July 2014 edition). The
Directory of Copper Mines and Plants highlights current capacity and
provides a five year outlook of forecasted capacity for over 1,000
existingandplannedcoppermines,plantsandrefineriesonacountryby
countrybasis,includingseparatetablesforSXEWplants.Salientdetails
foreachoperationareincludedandtheDirectoryseparatesoperations
between Operating & Developing and Exploration & Feasibility stages.
TheDirectoryispublishedtwiceperyear.
ICSG STATISTICAL DATABASE. The ICSG maintains one of the world's
mostcompletehistoricalandcurrentdatabaseswithstatisticsoncopper
productioncapacities,dataoncopperproduction,consumption,stocks,
prices, recycling and trade for copper products. In 2012 ICSG launched
itsonlinestatisticaldatabasethatgivessubscribersdirectaccesstoICSG
historicaldata.Italsoprovidessubscriberswithspecificextractiontools
fordownloadingthedata.

International Copper Study Group

DIRECTORY OF COPPER & COPPER ALLOY FABRICATORS (FIRST USE)


(2014 edition). This directory provides a global overview of companies
and plants involved in the first use of copper. First users are mainly
semisfabricatorsthatprocessrefineryshapesintosemifinishedcopper
andcopperalloyproducts.PublishedSeptember2014.
SURVEY OF BRASS MILLS, COPPER PRODUCTS AND FOUNDRIES IN
CHINA (2014). The survey provides a detailed overview of Chinas
industrial use of refined copper and scrap in the brass mills and
foundriessectors.PublishedMarch2014.
MARKETSTUDY:FABRICATIONANDCOPPERUSEINTHEMIDDLEEAST
ANDNORTHAFRICA.Astudyfocusingonprovidingacompletepicture
of fabrication and copper use in the Middle East, Egypt and India.
PublishedJuly2014.
SURVEYOFWIRERODPLANTSANDSECONDARYCOPPERSMELTERSIN
CHINA(2013).ThefirstlargescaleICSGSurveyofcopperwirerodplants
inChina.Areviewofwirerodplants,secondarysmeltersandrefineries
underconstructionin2012andexpansionplansupto2015isincluded.
COPPER AND COPPER ALLOY SCRAP SUPPLY SURVEY IN EU27 (2013).
The study compares scrap trade statistics of EUROSTAT and UN
COMTRADE databases. Differences in numbers are revealed and
explained by EUROSTAT and selected interviews with scrap collectors
and traders. It also gives an analysis on material availability, copper
contentintradeandtheeconomiclogicofcopperscrapdismantling.
TAXATION,ROYALTIESANDOTHERFISCALMEASURESAPPLIEDTOTHE
NONFERROUS METALS INDUSTRY (2013). A joint report by the ICSG,
ILZSG and INSG, providing information on fiscal measures applied to
miningandmetalsacrossvariousjurisdictionswithaparticularfocuson
copper,lead,zincandnickel.

FormoreinformationaboutICSGandICSGpublications,pleasevisitour
websiteatwww.icsg.org

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The World Copper Factbook 2014

TableofContents
AboutICSG
ICSGOfficersandSecretariat
ICSGPublications

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ii
iii

TableofContents

Chapter1:CuBasics
WhatisCopper?
CopperPropertiesandBenefits
SelectedCopperDefinitions
CopperinHistory
CopperToday

2
2
3
4
5
6

Chapter2:CopperProduction
HowisCopperProduced?

7
7

CopperMineProduction:WorldCopperMineProduction,19002013
CopperMineProductionbyRegion:1960,1980&2013
CopperMineProductionbyCountry:Top20Countriesin2013
TrendsincopperMiningCapacity,19972017
Top20CopperMinesbyCapacity,basis2014
ConstraintsonCopperSupply
CopperSmelterProduction:WorldCopperSmelterProduction1980
2013
TrendsinCopperSmeltingCapacity,19972017
CopperSmelterProductionbyRegion,19902013
CopperSmelterProductionbyCountry:Top20Countriesin2013
Top20CopperSmeltersbyCapacity,basis2014
WorldRefinedCopperProduction,19602013
TrendsinRefinedCapacity,19972017
RefinedCopperProductionbyRegion,19902013
RefinedCopperProductionbyCountry:Top20Countriesin2013
Top20CopperRefineriesbyCapacity,basis2014
SemisProduction:WorldCopper&CopperAlloySemisProduction,
19802013

International Copper Study Group

8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

CopperandCopperAlloySemisProductionbyRegion,1980&2013
CopperandCopperAlloySemisCapacitybyRegion&Product2014
CopperandCopperAlloySemisProductionbyCountry:Top20
Countries,2014

25
26

Chapter3:CopperTrade
MajorInternationalTradeFlowsofCopperOresandConcentrates
MajorInternationalTradeFlowsofCopperBlisterandAnode
MajorInternationalTraeFlowsofRefinedCopper
LeadingExportersandImportersofSemiFabricatedCopper
Products,2013
TheGlobalCopperMarketandtheCommodity"Copper"
CopperStocks,PricesandUsage

28
29
30
31

Chapter4:CopperUsage
HowisCopperUsed?
WorldRefinedCopperUsage,19002013
RefinedCopperUsagebyRegion,1960,1980&2013
WorldRefinedCopperUsageperCapita:19502013
IntensityofRefinedCopperUsage
TotalCopperUsage,IncludingCopperScrap,20022012
MajorUsesofCopper:Electrical
MajorUsesofCopper:ElectronicsandCommunications
MajorUsesofCopper:Construction
MajorUsesofCopper:Transportation
MajorUsesofCopper:IndustrialMachineryandEquiptment
MajorUsesofCopper:ConsumerandGeneralProducts
MajorUsesofCopper:UsagebyEndUseSectorandRegion,2013

35
35
36
37
38
39
40
41
42
43
44
45
46
47

Chapter5:CopperRecycling
CopperRecyclingRateDefinitions
GlobalCopperRecyclablesUse,20042012
ICSGGlobalCopperScrapResearchProjectandrecentscrapreports
IndustryGlobalFlowsofCopper(2012)andDerivedRecyclingRates
TheFlowofCopper
ANNEX
WorldCopperProductionandUsage,19602013

48
49
50
51
52
53
55
55

27

32
33
34

The World Copper Factbook 2014

Chapter1:CuBasics
WhatisCopper?
Copperisamalleableandductilemetallicelementthatisanexcellent
conductor of heat and electricity as well as being corrosion resistant
and antimicrobial. Copper occurs naturally in the Earths crust in a
variety of forms. It can be found in sulfide deposits (as chalcopyrite,
bornite, chalcocite, covellite), in carbonate deposits (as azurite and
malachite), in silicate deposits (as chrysycolla and dioptase) and as
pure"native"copper.
Copper also occurs naturally in humans, animals and plants. Organic
life forms have evolved in an environment containing copper. As a
nutrient and essential element, copper is vital to maintaining health.
Lifesustainingfunctionsdependoncopper.
Copper and copperbased alloys are used in a variety of applications
that are necessary for a reasonable standard of living. Its continued
productionanduseisessentialforsociety'sdevelopment.Howsociety
exploitsandusesitsresources,whileensuringthattomorrow'sneeds
are not compromised, is an important factor in ensuring society's
sustainabledevelopment.

Copper is one of the most recycled of all metals. It is our ability to


recycle metals over and over again that makes them a material of
choice.Recycledcopper(alsoknownassecondarycopper)cannotbe
distinguished from primary copper (copper originating from ores),
once reprocessed. Recycling copper extends the efficiency of use of
themetal,resultsinenergysavingsandcontributestoensuringthat
wehaveasustainablesourceofmetalforfuturegenerations.
The demand for copper will continue to be met by the discovery of
new deposits, technological improvements, efficient design, and by
taking advantage of the renewable nature of copper through reuse
and recycling. As well, competition between materials, and supply
and demand principles, contribute to ensuring that materials are
usedefficientlyandeffectively.
Copper is an important contributor to the national economies of
mature, newly developed and developing countries. Mining,
processing, recycling and the transformation of metal into a
multitude of products creates jobs and generates wealth. These
activities contribute to building and maintaining a country's
infrastructure, and create trade and investment opportunities.
Copperwillcontinuetocontributetosocietysdevelopmentwellinto
thefuture.

ImagescourtesyoftheCopperDevelopmentAssociation.

International Copper Study Group

The World Copper Factbook 2014

Key Physical Properties of Copper

CopperPropertiesandBenefits
Chemical Symbol

Cu

Atomic Number

29

Atomic Weight

63.54

Density

8960 kg m-3

Melting point

1356 K

Specific Heat cp (at 293 K)

0.383 kJ kg-1 K-1

Thermal conductivity

394 W m-1 K-1

Coefficient of linear expansion

16.5 x 10-6 K-1

Young's Modulus of Elasticity

110 x 109 N m-2

Electrical Conductivity (% IACS)

1.673 x 10-8 ohm-m

Crystal Structure

Face-Centered Cubic

Coppermakesvitalcontributionstosustainingandimprovingsociety.
Copper'schemical,physicalandaestheticpropertiesmakeitamaterial
ofchoiceinawiderangeofdomestic,industrialandhightechnology
applications.

Alloyed with other metals, such as zinc (to form brass), aluminum or
tin (to form bronzes), or nickel, for example, it can acquire new
characteristics for use in highly specialized applications. In fact,
society'sinfrastructureisbased,inpart,oncopper.

International Copper Study Group

Butcoppersbenefitsextendbeyondmechanicalcharacteristics:

Copper is essential to the health of plants, animal and humans.


Deficiencies,aswellasexcesses,canbedetrimentaltohealth.
Antimicrobial Properties. Due to coppers antimicrobial
properties, copper and copper alloy products can be used to
eliminatepathogensandreducethespreadofdiseases.
Recycling. Copper is one of the most recycled of all metals.
Virtually all products made from copper can be recycled and
recycledcopperlosesnoneofitschemicalorphysicalproperties.
Energy Efficiency. Copper can improve the efficiency of energy
productionanddistributionsystems.

The World Copper Factbook 2014

SelectedCopperDefinitions

Anode. The positive terminal in an electrolytic cell where


electrons leave a device to enter the external circuit. A copper
anodeat99percentpuritywilldissolve.
Blister.Theproductofaconvertingfurnace.Itisanintermediate,
more concentrated (with respect to the desired metal) material
than matte, from which it is made, and is usually transferred to
anotherfurnaceforfurtherconcentration.
Cathode. The negative terminal in an electrolytic cell where
copper is plated during electrowinning or electrolytic refining.
Copper so plated is referred to as cathode and is generally
about99.99percentpure.
ContainedCopper.Containedcopperisdefinedastheanalytical
amountofcopperoutputtedinconcentratesandprecipitates.
Copper concentrate. A product of flotation milling. It composes
sulfide minerals and entrained material and contains onethird
each copper, iron, and sulfur. It can be processed
pyrometallurgically in a smelter to produce matte or
hydrometallurgically (pressure leaching) to produce pregnant
leach solution, both products requiring further processing to
obtaincoppermetal.
Direct melt scrap. Directmelt, or remelt scrap is secondary
material that can be used directly in a furnace without cleanup
throughtheuseoffluxesandpolingandrerefining.
Electrorefining. An electrolytic refining process where less pure
copperanodeisdissolvedandhighpuritycopperisplatedatthe
cathode.

Sources:ICSGandUSGS.

Electrowinning.Anelectrolyticrefiningprocesswheretheanode
is inert, and rich (copperloaded) electrolyte continually replaces
lean (copperdepleted) electrolyte as copper is plated at the
cathode.
Firerefinedcopper.Theproductofafirerefiningfurnace.Itisan
intermediate, more concentrated (with respect to the desired
metal) material than blister, from which it is made. Firerefined
copper contains about 99 percent copper, the exact percentage
dependingontheprocessparameters.
Primary copper. Copper extracted from ores and recovered as
coppermetalorcopperbearingchemicals.
Secondary refined material. Secondary refined material
represents scrap that has been firerefined, or that has been
converted toanodeatthesmelterlevelandthenelectrolytically
refined.
Solvent extraction. A method of separating one or more metals
from a leach solution by treating with a solvent that will extract
the required metal, leaving the others. The metal is recovered
fromthesolventbyfurthertreatment.
Stocks. ICSG reports refined copper stocks as those held by the
exchanges, consumers, producers and governments. Merchant
stocks are included where it is certain that these are
nonduplicativetothosealreadyreported.Onlyrefinedproducts
atplantsitesareincluded.Itemssuchaswirerod,tubeandother
semifabricatedformsarenotincluded.
Usage. Copper usage represents refined copper used by
semifabricators. Usage data is either directly reported, or ICSG
estimatesanapparentusageusingthefollowingformula:Refined
copper production + refined imports refined exports + refined
beginningstocksendingstocks.

International Copper Study Group

The World Copper Factbook 2014

CopperinHistory
Archaeological evidence demonstrates that copper was one of the first metals used by humans and was used at least 10,000
years ago for items such as coins and ornaments in western Asia. During the prehistoric Chalcolithic Period (derived from
chalkos, the Greek word for copper), man discovered how to extract and use copper to produce ornaments and implements. As
early as the 4th to 3rd millennium BC, workers extracted copper from Spain's Huelva region.
The discovery that copper, when alloyed with tin, produces bronze, led to the Bronze Age, c. 2,500 BC. Israel's Timna Valley
provided copper to the Pharaohs (an Egyptian papyrus records the use of copper to treat infections and to sterilize water).
Cyprus supplied much of the Phoenician, Greek and Roman needs for copper. "Copper" is derived from the latin Cyprium,
literally Cyprian metal. The Greeks of Aristotle's era were familiar with brass as a valued copper alloy. In South America, the
pre-Columbian Maya, Aztec and Inca civilizations exploited copper, in addition to gold and silver. During the Middle Ages,
copper and bronze works flourished in China, India and Japan.
The discoveries and inventions relating to electricity and magnetism of the late 18th and early 19th centuries by scientists
such as Ampere, Faraday and Ohm, and the products manufactured from copper, helped launch the Industrial Revolution
and propel copper into a new era. Today, copper continues to serve society's needs. Although copper has been in use for at
least 10,000 years, innovative applications for copper are still being developed as evidenced by the development of the copper
chip by the semi-conductors industry.

ImagescourtesyoftheBritishMuseum,theCopperDevelopmentAssociation andICSG.

International Copper Study Group

The World Copper Factbook 2014

CopperToday

Theglobaldemandforcoppercontinuestogrow:worldrefinedusagehasmorethantripledinthelast50yearsthankstoexpandingsectorssuchas
electrical and electronic products, building construction, industrial machinery and equipment, transportation equipment, and consumer and

general products. Some of the highlights of 2012 copper production and usage are listed below. In the chapters that follow, more indepth
information is presented on copper production, trade, usage, and recycling. For the most uptodate information on the global copper market,

pleasevisitourwebsiteatwww.icsg.org.
CopperProductionHighlights
Preliminary figures indicate that global
copper mine production in 2013 reached
18.1 million tonnes. The largest producer
of mined copper was Chile (almost 5.8
milliontonnes).

Smelter production in 2013 reached


around16.8milliontonnes.Chinawasthe
largestproducerofblister&anodein2013
(over5.7milliontonnes)

Refinery Production in 2013 increased to


20.9 million tonnes, including 3.8 million
tonnesofsecondaryrefinedproduction.

CopperUsageHighlights
Refinedcopperusage(usagebysemisplantsorthe
first users of copper) in 2013 reached 21.2 million
tonnes. China was also the largest consumer of
refinedcopperin2013withapparentusageofover
9.5milliontonnes.

According to the International Copper Association


(ICA), equipment was the largest copper enduse
sector last year, followed by building construction
andinfrastructure.

New copper applications being developed include


antimicrobialcoppertouchsurfaces,leadfreebrass
plumbing, high tech copper wire, heat exchangers,
andnewconsumerproductsaswell.

ImagescourtesyofCDAandLuisHernnHerrerosfromwww.visnu.cl,CopyrightAngloAmerican(FaenaLosBroncesyMantosBlancos Chile)

International Copper Study Group

The World Copper Factbook 2014

Chapter2:CopperProduction
HowisCopperProduced?
Geologists look for signs and/or anomalies that would indicate the
presence of a mineral deposit. Under the right geological, economic,
environmentalandlegalconditions,miningcanproceed.
Primary copper production starts with the extraction of copperbearing
ores.Therearethreebasicwaysofcoppermining:surface,underground
miningandleaching.Openpitminingisthepredominantminingmethod
intheworld.
After the ore has been mined, it is crushed and ground followed by a
concentration by flotation. The obtained copper concentrates typically
contain around 30% of copper, but grades can range from 20 to 40 per
cent.Inthefollowingsmeltingprocess,sometimesprecededbyaroasting
step,copperistransformedintoamattecontaining5070%copper.The
molten matte is processed in a converter resulting in a socalled blister
copperof98.599.5%coppercontent.Inthenextstep,theblistercopper
isfirerefinedinthetraditionalprocessroute,or,increasingly,remelted
andcastintoanodesforelectrorefining.

International Copper Study Group

The output of electrorefining is refined copper cathodes, assaying over


99.99%ofcopper.
Alternatively, in the hydrometallurgical route, copper is extracted from
mainly low grade oxide ores and also some sulphide ores, through
leaching (solvent extraction) and electrowinning (SXEW process). The
outputisthesameasthroughtheelectrorefiningrouterefinedcopper
cathodes. ICSG estimates that in 2013, refined copper production from
SXEWrepresented18%oftotalcopperrefinedproduction.
Refined copper production derived from mine production (either from
metallurgical treatment of concentrates or SXEW) is referred to as
primarycopperproduction,asobtainablefromaprimaryrawmaterial
source.However,thereisanotherimportantsourceofrawmaterialwhich
is scrap. Copper scrap derives from either metals discarded in semis
fabricationorfinishedproductmanufacturingprocesses(newscrap)or
obsolete endoflife products (old scrap). Refined copper production
attributable to recycled scrap feed is classified as secondary copper
production. Secondary producers use processes similar to those
employed for primary production. ICSG estimates that in 2013, at the
refinerylevel, secondarycopperrefinedproductionreached18%oftotal
copperrefinedproduction.

The World Copper Factbook 2014

CopperMineProduction

WorldCopperMineProduction, 19002013
(thousandmetrictonnes)
Source:ICSG

20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1900

1910

1920

1930

1940 1950
Concentrates

1960 1970
SX-EW

1980

1990

2000

2010

Since1900,whenworldproductionwaslessthan500thousandtonnescopper,worldcoppermineproductionhasgrownby3.2%peryearto18.1
milliontonnesin2013.SXEWproduction,virtuallynonexistentbeforethe1960s,reachednearly3.8milliontonnesin2013.
International Copper Study Group

The World Copper Factbook 2014

CopperMineProductionbyRegion,1960versus2013
Thousandmetrictonnescopper
Source:ICSG

2013

1960
19%

3%

6%

Oceania
10%

Africa

25%

Europe

42%

6%

13%

NorthAmerica
Asia

11%

13%
36%

16%

LatinAmerica

Fromlessthan750,000tonnescopperin1960,coppermineproductioninLatinAmericasurgedtoover7.5milliontonnesin
2013,representing42%oftheglobaltotal.Asiahasalsoexhibitedsignificantgrowth.Theregionsshareofglobalproduction
hasincreasedfromjust6%to16%overtherespectiveperiod.

International Copper Study Group

The World Copper Factbook 2014

Copper Mine Production by Country: Top 20 Countries in 2013


(Thousand metric tonnes)
Source: ICSG
Chile
China
Peru
United States
Australia
Congo, D.R.
Zambia
Russian Fed.
Canada
Indonesia
Mexico
Kazakhstan
Poland
Brazil
Iran
Mongolia
Laos
Papua New Guinea
Scandinavia
Turkey

1,000

2,000

3,000

4,000

5,000

6,000

Chileaccountedforalmostonethirdofworldcoppermineproductionin2013withmineoutputofalmost5.8milliontonnescopper.

International Copper Study Group

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The World Copper Factbook 2014

TrendsinCopperMiningCapacity,19972017
Thousandmetrictonnes(Bars)andAnnualpercentagechange(Line)
Source:ICSGDirectoryofCopperMinesandPlants July2014

12.0%

Concentrates

25,000

25.0%

20,000

20.0%

6,000

6.0%

15,000

20092013:
+2.3%

10,000

20032008:
+3.7%
19972002:
+2.6%

5,000

2.0%
0.0%

1997

2001

2005

2009

2013

2017

%growth

%growth

20142017:
+8.1%

5,000
15.0%

4,000

19972002:
+10.2%
20032008:
+5.4%

10.0%

3,000
20092013:
+2.7%

2,000
20142017:
+6.1%

5.0%

Thousandmetrictonnescopper

8.0%

Thousandmetrictonnescopper

10.0%

4.0%

7,000

SXEW

1,000

0.0%
1997

2001

2005

2009

2013

2017

Copperminingcapacityisestimatedtoreach27.5milliontonnescopperin2017,with21%beingSXEWproduction.Thiswillbe
around30%higherthancapacityof21.0milliontonnescopperrecordedin2013.Asthechartsillustrate,growthinconcentrate
capacityhasgenerallybeenrising,whilegrowthinSXEWcapacityhasbeenfalling.Thistrendshouldreversegoingforwardasnew
capacityisaddedatexistingandsomenewoperations.

International Copper Study Group

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The World Copper Factbook 2014

Top20CopperMinesbyCapacity(basis2014)
Thousandmetrictonnescopper
Source:ICSG DirectoryofCopperMinesandPlants July2014

Rank

Mine

Country

Owner(s)

Source

Capacity

1
2
3

Escondida
Grasberg
Collahuasi

Chile
Indonesia
Chile

BHP Billiton (57.5%), Rio Tinto Corp. (30%), Japan Escondida (12.5%)
P.T. Freeport Indonesia Co. (PT-FI), Rio Tinto
Anglo American (44%), Glencore plc (44%), Mitsui + Nippon (12%)

Concs & SX-EW


Concentrates
Concs & SX-EW

1,050
790
520

Los Bronces
Codelco Norte

Chile

Anglo Amercian 75.5%, Mitsubishi Corp. 24.5%

Concs & SX-EW

490

Chile

Concs & SX-EW

450

Antamina

Peru

Concentrates

450

Morenci

United States

Codelco
BHP Billiton (33.75%), Teck (22.5%), Glencore plc (33.75%), Mitsubishi Corp.
(10%)
Freeport-McMoRan Inc 85%, 15% affiliates of Sumitomo Corporation

Concs & SX-EW

450

El Teniente

Chile

Codelco

Concs & SX-EW

443

Russia

Norilsk Nickel

Concentrates

430

10
11

Taimyr Peninsula (Norilsk/


Talnakh Mills)
Los Pelambres
Radomiro Tomic

Chile
Chile

Antofagasta Plc (60%), Nippon Mining (25%), Mitsubishi Materials (15%)


Codelco

Concentrates
SX-EW

400
400

12

Andina

Chile

Codelco

13

Kansanshi

Zambia

First Quantum Minerals Ltd (80%), ZCCM (20%)

14

Bingham Canyon

United States

15

Batu Hijau

Indonesia

Kennecott
Pt Newmont Nusa Tenggara (PT Pukuafu 20%, Newmont 41.5%, Sumitomo

16

Sarcheshmeh

Iran

National Iranian Copper Industry Co.

17

Cerro Verde II (Sulphide)

Peru

18

Olympic Dam

Australia

19

Cuajone

Peru

Freeport-McMoRan Copper & Gold Inc.53.5%, Compaia de Minas


Buenaventura 18.5%, Sumitomo 21%
BHP Billiton
Grupo Mexico (54.1%), Marmon Corp. (15%), Freeport-McMoRan Copper &

20

Konkola

Zambia

Konkola Copper Mines (Vedanta 79.4%, ZCCM 20.6%)

International Copper Study Group

Concentrates

300

Concs & SX-EW

285

Concentrates

280

Concentrates

250

Concs & SX-EW

249

Concentrates

240

Concs & SX-EW

225

Concs & SX-EW

212

Concentrates

200

12

The World Copper Factbook 2014

ConstraintsonCopperSupply
With copper concentrate in strong demand, there has been growing
interest in understanding the obstacles that can prevent copper mine
supply from coming onstream. Below are some of the operational and
financial constraints identified from the study. For more information
about ICSG research related to constraints on copper supply, please
contacttheICSGSecretariatatmail@icsg.org

Decliningoregrades:aseriousissueindevelopedcopperareas
suchastheUSAandChile

Project finance: prolonged economic and price volatility may


havesignificantimpactoncostofcapital

Tax&investmentregimes:recentresearchindicatestheseare
lessimportantthangeologicalendowments

Othercostissues:lowercapitalexpendituremayhaveadverse
longtermeffectoncoppersupply;operatingcostescalation

Watersupply:acriticalissueindryminingdistricts

Energy: coal is the fuel chosen to power main copper mines


andprocessesclimatechangemayincreasecosts

International Copper Study Group

Other environmental issues: governments are becoming more


awareoftheimpactofminingtothesurroundingenvironment
in recent years. In countries like Peru and the Philippines, the
relationshipwithindigenouscommunityisalsoakeyfactor.
Resource nationalism: It has become a priority for certain
governmentstodeveloptheirmineralresourcesthathavenot
beenexploiteduntilnow.Whilewillingtodeveloptheirnatural
resources,countriesmightbeseekingtoextractstrongrevenue
flows from them. It will be important to balance
royalty/taxation levels with the need to encourage capital
investmenttodeveloptheirrisingindustries.
Sulphuric acid supply and price: 16% cost factor for SXEW
projects
Skilled labor: open labor markets would help address this
constraint
Laborstrikes:tendtoincreasewhenrefinedpricesarehighand
GDPisgrowingfaster,buttendtobelongerandlessfrequent
otherwise
High domestic costs if there is Dutch disease (resulting in
higherexchangeratesdueinparttostrongexports)
Rate between imported inputs and domestic input costs
affectedbythecurrencystrengthoftheproducer
Political risks: Security and transport accessibility is crucial to
mineoperation

13

The World Copper Factbook 2014

CopperSmelterProduction
World Copper Smelter Production, 1980-2013
Thousand metric tonnes copper
Source: ICSG

17,500

15,000

12,500

10,000

7,500

5,000

2,500

1980

1985

1990

1995

Primary Feed

2000

2005

2010

Secondary Feed

Smeltingisthepyrometallurgicalprocessusedtoproducecoppermetal.In2013,worldcoppersmelterproductionreached16.8milliontonnes
copper.Recently,thetrendtorecovercopperdirectlyfromoresthroughleachingprocesseshasbeenontheincrease.Primarysmeltersusemine
concentratesastheirmainsourceoffeed(althoughsomeusecopperscrapaswell).Secondarycoppersmeltersusecopperscrapastheirfeed.

International Copper Study Group

14

The World Copper Factbook 2014

TrendsinCopperSmeltingCapacity,1997and2017
Percentageshareoftotalcapacity,bytechnologytype
Source:ICSGDirectoryofCopperMinesandPlants July2014

1997
6.5%

2017
4% 0% 1%

1.1%
9%

14.5%
15%

55.0%

22.9%

71%
Flash/Continuous
ModifiedReverb/Convert
LowGradeEW

Reverb/Blast/Rotary
Electric
Unkown

TheuseofFlash/Continuoustechnologyaccountedfor55%intotalcoppersmeltingcapacityin1997.Thissharerosetoalmost70%in
2013.Itisexpectedtoremainaroundthisleveluntil2017.

International Copper Study Group

15

The World Copper Factbook 2014

Copper Smelter Production by Region, 1990-2013


Thousand metric tonnes
Source: ICSG

10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
1990

1992

Africa

1994

1996

1998

America

2000

2002

Asia

2004

2006

Europe

2008

2010

2012

Oceania

Asiasshareofworldcoppersmelteroutputjumpedfrom27%in1990to57%in2013assmelterproductioninChinaexpandedrapidly.
International Copper Study Group

16

The World Copper Factbook 2014

CopperSmelterProduction byCountry:Top20Countriesin2013
Thousandmetrictonnes
Source:ICSG
China
Japan
Chile
Russian Fed.
India
Korean Rep.
Poland
Zambia
United States
Germany
Australia
Bulgaria
Kazakhstan
Peru
Canada
Indonesia
Brazil
Mexico
Spain
Iran

1,000

2,000

3,000

4,000

5,000

6,000

In2013,Chinaaccountedforoverathirdofworldcoppersmelterproduction,followedbyJapan(9%),Chile(8%)andtheRussian
Federation(5%).
International Copper Study Group

17

The World Copper Factbook 2014

Top20CopperSmeltersbyCapacity(basis2014)
Thousandmetrictonnescopper
Source:ICSG DirectoryofCopperMinesandPlants July2014
Rank

Smelter

Country

Operator/Owner(s)

Guixi (smelter)

China

Jiangxi Copper Corp.

Birla Copper (Dahej)

India

Birla Group

Codelco Norte (smelter)

Chile

Hamburg

Process

Capacity

Codelco

Outokumpu Flash
Outokumpu Flash, Ausmelt, Mitsubishi
Continuous
Outokumpu/ Teniente Converter

450

Germany

Aurubis

Outokumpu, Contimelt, Electric

450

Besshi/ Ehime (Toyo)

Japan

Sumitomo Metal Mining Co. Ltd.

Outokumpu Flash

450

Saganoseki/ Oita (smelter)

Japan

Pan Pacific Copper Co. Ltd

Outokumpu Flash

450

El Teniente (Caletones)

Chile

Codelco Chile

Reverberatory/ Teniente Conv.

400

China

Jinchuan Non- Ferrous Metal Co.

Reverberatory/ Kaldo Conv.

400

China

Xiangguang Copper Co. Ltd.

Outokumpu Flash

400

Jinchuan (smelter)
Xiangguang Copper
(
lt )
Norilsk (Nikelevy, Medny)

Russia

Norilsk G-M

Reverb, Electric, Vanyukov

400

Sterlite Smelter (Tuticorin)

India

Vedanta

Isasmelt Process

400

Jinguan (smelter)

China

Tongling Nonferrous Metals Group

Flash Smelter

400

13

Ilo Smelter

Peru

Southern Copper Corp. (Grupo Mexico 75.1%) Isasmelt Process

360

14

Onahama/ Fukushima

Japan

Mitsubishi Materials Corp. (49.29%), Dowa


Metals & Mining Co. Ltd.(31.15%), Furukawa
Metals & Resources Co. Ltd. (12.67%)

Reverberatory

354

15

Altonorte (La Negra)

Chile

GlencoreXstrata plc

Noranda Continuous

350

15

Jinlong (Tongdu)

China

Tongling Nonferrous Metals Corp. (57.4%),


Sumitomo (35%), Pingguo Aluminium Co.

Flash Smelter

350

15

Yunnan

China

Yunnan Copper Industry Group (Local


Government)

Isasmelt Process

350

15

Tongling
Naoshima/ Kagawa
(
lt )
Baiyin

China

Tongling Nonferrous Metals Group

Outokumpu Flash

350

Japan

Mitsubishi Materials Corp.

Mitsubishi Continuous

342

China

Baiyin Non-Ferrous Metals

Flash Smelter

340

19
20

International Copper Study Group

900
500

18

The World Copper Factbook 2014

RefinedCopperProduction
WorldRefinedCopperProduction,19602013
Thousandmetrictonnes
Source:ICSG

20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
0

1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012
Refinery Primary

Refinery Secondary

Refinery SX-EW

Withtheemergenceofsolventextractionelectrowinning,(SXEW)technology,refinedcopperproducedfromleachingoreshasbeenontherise,
increasingfromlessthan1%ofworldrefinedcopperproductioninthelate1960sto18%ofworldoutputin2013.
International Copper Study Group

19

The World Copper Factbook 2014

Trends in Refined Capacity, 1997-2017


Thousand metric tonnes copper
Source: ICSG Directory of Copper Mines and Plants - July 2014
30,000
28,000
26,000
24,000
22,000
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
1997

1999

2001

2003

Electrolytic

2005

2007

2009

Electrowinning

2011

2013

2015

2017

Fire Refining

Thischartshowsworldcopperrefinerycapacitybyrefiningprocess.Theratiobetweenproductionandcapacityiscalledthecapacityutilizationrate.
Theworldrefinerycapacityutilizationratewasaround79%in2013.
International Copper Study Group

20

The World Copper Factbook 2014

Refined Copper Production by Region, 1990-2013


Thousand metric tonnes
Source: ICSG

25,000

20,000

15,000

10,000

5,000

0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012

Africa

America

Asia

Europe

Oceania

Regionwiththehighestoutputofrefinedcopperin1990:theAmericas(4,250kt),followedbyEurope(3,000kt)
Leadingregionintheworldin2013:Asia(10,340kt)ascomparedto2,500ktin1990.

International Copper Study Group

21

The World Copper Factbook 2014

RefinedCopperProductionbyCountry:Top20Countriesin2013
Thousand metrictonnes
Source:ICSG
China
Chile
Japan
United States
Russian Fed.
Germany
Congo
India
Korean Rep.
Zambia
Poland
Australia
Belgium
Mexico
Peru
Spain
Kazakhstan
Canada
Brazil
Bulgaria
0

1,000

International Copper Study Group

2,000

3,000

4,000

5,000

6,000

7,000

22

The World Copper Factbook 2014

Top20CopperRefineriesbyCapacity(basis2014)
Thousandmetrictonnescopper
Source:ICSG DirectoryofCopperMinesandPlants July2014

Rank

Refinery

Country

Owner(s)

Process

Capacity

Guixi

China

Jiangxi Copper Corporation

Electrolytic

900

Jinchuan

China

Jinchuan Non Ferrous Co.

Electrolytic

650

Daye/ Hubei (refinery)

China

Daye Non-Ferrous Metals Co.

Electrolytic

600

Chuquicamata Refinery

Chile

Codelco

Electrolytic

600

Yunnan Copper

China

Yunnan Copper Industry Group (64.8%)

Electrolytic

500

Birla

India

Birla Group Hidalco

Electrolytic

500

Pyshma Refinery

Russia

Uralelectromed (Urals Mining & Metallurgical Co.)

Electrolytic

500

Toyo/Niihama (Besshi)

Japan

Sumitomo Metal Mining Co. Ltd.

Electrolytic

450

Amarillo

United States

Grupo Mexico

Electrolytic

450

10

Onsan Refinery I

Korean Republic

LS-Nikko Co. (LS, Nippon Mining)

Electrolytic

440

11

Hamburg (refinery)

Germany

Aurubis

Electrolytic

416

12

El Paso (refinery)

United States

Freeport-McMoRan Copper & Gold Inc.

Electrolytic

415

13

Baiyin

China

Baiyin Nonferrous Metals

Electrolytic

400

13

Jinguan (refinery)

China

Tongling Non-Ferrous Metals Group

Electrolytic

400

13

Jinlong (Tongdu) (refinery)

China

Tongling NonFerrous Metal Corp. 52 %, Sharpline International


13%, Sumitomo Corp. 7.5%, Itochu Corp. 7.5%

Electrolytic

400

13

Xiangguang Copper (refinery)

China

Yanggu Xiangguang Copper Co

Electrolytic

400

13

Shandong Fangyuan (refinery)

China

Dongying, Shandong

Electrolytic

400

13

Sterlite Refinery

India

Vedanta

Electrolytic

400

13

Las Ventanas

Chile

Codelco

Electrolytic

400

13

Radomiro Tomic (SX-EW)

Chile

Codelco

Electrowinning

400

International Copper Study Group

23

The World Copper Factbook 2014

WorldCopperandCopperAlloySemisProduction

WorldCopperandCopperAlloySemis Production,19802013

Thousandmetrictonnes
Source:ICSG
27,000

WorldCopperandCopperAlloySemis
ProductionBreakdown2013P

24,000
21,000

CopperSemis
26%

18,000
15,000
12,000
9,000
6,000

CopperAlloy
Semis
10%

Notspecified
64%

3,000
0
1980

1984

1988

1992

1996

2000

2004

2008

2012

Source:ICSG

Totalsemisproduction: 24.06mtonnes

Semisfabricatorsprocessrefineryshapessuchascathodes,wirebar,ingot,billetslabandcakeintosemifinishedcopperandcopperalloyproductsusing
bothunwroughtcoppermaterialsanddirectmeltscrapasrawmaterialfeed.Semisfabricatorsareconsideredtobethefirstusersofrefinedcopper
andincludewirerodplantsandbrassmills.
P/Preliminary.Forsomecountriesstillincomplete

International Copper Study Group

24

The World Copper Factbook 2014

CopperandCopperAlloySemisProductionbyRegion,1980&2013P
Thousandmetrictonnes
Source:ICSG
20,000
18,000
1980

2013

16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Africa

Asia

Europe

North America

Oceania

South America

Asiaaccountedfor77%(oralmost18.5millionmetrictonnes)ofsemisoutputin2013,comparedto23%in1980.
P/Preliminary.Forsomecountriesstillincomplete

International Copper Study Group

25

The World Copper Factbook 2014

Copper&CopperAlloySemisProductionCapacitybyRegion&Product
Source:ICSGDirectoryofCopperandCopperAlloyFabricators2014
Semis Production Capacity by Product,
2013 vs 2014 (million tonnes gross weight)
Source: ICSG

SemisProductionCapacitybyRegion,2014(%)
Source:ICSG
OtherAfrica
1%

60

Asia(ex.China)&
Oceania
20%

50
40
China
40%

MiddleEast&North
Africa
4%

30
20
10

Americas
13%

2013
EasternEurope
6%

WesternEurope
16%

In2014,Chinaaccountsforthelargestshareofworld
semisproductioncapacity(40%)andthelargest
numberofsemisplants(563).
International Copper Study Group

Wire Rod
Tubes
Foil

2014
PSS
Alloy Wire
Powder

RBS
Ingots
Not Classified

Wirerodplantsareestimatedtoaccountfor53%of
worldfirstusecapacityin2014,orover28.0million
tonnes.
26

The World Copper Factbook 2014

CopperandCopperAlloySemisProduction Capacity byCountry:


Top20Countries, 2014
Thousandmetrictonnes
Source:ICSGDirectoryofCopperandCopperAlloyFabricators2014
China
United States
Japan
Germany
Korean Rep.
Italy
India
Russian Fed.
Taiwan (China)
Brazil
Turkey
France
BENELUX
Mexico
Thailand
Spain
Indonesia
United Arab Emirates
Poland
Malaysia

International Copper Study Group

4,000

8,000

12,000

16,000

20,000

27

The World Copper Factbook 2014

Chapter3:CopperTrade

World Copper Imports by Product Category, 2013


Thousand metric tonnes copper (unless otherwise noted)
Source: ICSG

Copperproductsacrossthevaluechainaretradedinternationally.Often,
countries where upstream copper production capacity exceeds
downstreamproductioncapacitywillimporttherawmaterialsneededto
meettheirproductionneeds,andviceversa.Majorproductcategoriesof
coppertradedinternationallyinclude:

Concentrates
Blister & Anode
Refined Copper

Copperconcentrates
Copperblisterandanode
Coppercathodeandingots
Copperscrapand
Coppersemis

Copper Scrap /1
Copper & Copper
Alloy Semis /1
0

Copperpowdersandcompoundsarealsotradedglobally,buttypicallyin
much smaller quantities. In additional, copper is contained in enduse
products that are traded globally including automobiles, appliances,
electronic equipment and other products. Changes in trade regulations,
such as import duties or export quotas, can have significant impacts on
the international trade of copper. For more information about the
international trade of copper and changes in regulations that can affect
thetradeofcopper,pleasecontacttheICSGSecretariatatmail@icsg.org1

2,000

4,000

6,000

8,000

World Copper Exports by Product Category, 2013


Thousand metric tonnes copper (unless otherwise noted)
Source: ICSG

Concentrates
Blister & Anode

Refined Copper
Copper Scrap /1
Copper & Copper
Alloy Semis /1

Gross metal weight.

International Copper Study Group

2,000

4,000

6,000

8,000

28

The World Copper Factbook 2014

1
Major International Trade
Major
Trade Flows
FlowsofofCopper
CopperOres and Concentrates
Ores and Concentrates1

MajorExporters of
CopperOresand
Concentrates,2013

MajorImportersof
CopperOresand
Concentrates,2013

1.
2.
3.
4.
5.
6.
7.
8.
9.

Chile
Peru
Australia
Canada
Indonesia
UnitedStates
Brazil
Spain
Mexico
10. Mongolia

1. China
2. Japan
3. India
4. KoreanRep.
5. Spain
6. Germany
7. Bulgaria
8. Brazil
9. Finland
10. Philippines

ImagecourtesyoftheCopperDevelopmentAssociation.

Figure is intended to illustrate trade flows but not actual trade routes. Detailed trade matrices are available in ICSG Statistical Yearbook.

International Copper Study Group

29

The World Copper Factbook 2014

Major International Trade of Copper Blister


Major International
Trade Flows of Copper Blister and Anode1
1
and Anode
MajorExporters of
CopperBlisterand
Anode,2013

MajorImportersof
CopperBlisterand
Anode,2013

1. Chile
2. Bulgaria
3. Spain
4. Belgium
5. Netherlands
6. Finland
7. UnitedStates
8. Armenia
9. Peru
10. Germany

1. China
2. Belgium
3. Germany
4. Australia.
5. KoreanRep.
6. Canada
7. Austria
8. Netherlands
9. India
10. Sweden

Figure is intended to illustrate trade flows but not actual trade routes. Detailed trade matrices are available in ICSG Statistical Yearbook.

International Copper Study Group

30

The World Copper Factbook 2014

Major International Trade Flows of Refined


Major International
Trade Flows of Refined Copper1
1
Copper
MajorExporters of
RefinedCopper,
2013

MajorImportersof
RefinedCopper,
2013

1. Chile
2. Japan
3. Australia
4. Kazakhstan
5. Poland
6. China
7. Peru
8. Malaysia
9. India
10. Belgium

1. China
2. UnitedStates
3. Germany
4. Italy
5. Malaysia
6. Taiwan
7. Turkey
8. KoreanRep.
9. Thailand
10. Brazil

Figure is intended to illustrate trade flows but not actual trade routes. Detailed trade matrices are available in ICSG Statistical Yearbook.

International Copper Study Group

31

The World Copper Factbook 2014

LeadingExportersandImportersofSemiFabricatedCopperProducts,2013
1,500
1,200

Thousand metrictonnes,Source:ICSG

Importers

900
600
300
0

1,200
1,000

Exporters

800
600
400
200
0

International Copper Study Group

32

The World Copper Factbook 2014

TheGlobalCopperMarketandthe
CommodityCopper
Copper,asanyothergoodormerchandise,istradedbetweenproducers
and consumers. Producers sell their present or future production to
clients, who transform the metal into shapes or alloys, so that
downstream fabricators can transform these into different enduse
products.Oneofthemostimportantfactorsintradingacommoditysuch
as copper is the settlement price for the present day (spot price) or for
futuredays.
Exchanges
The role of a commodity exchange is to facilitate and make transparent
the process of settling prices. Three commodity exchanges provide the
facilities to trade copper: The London Metal Exchange (LME), the
Commodity Exchange Division of the New York Mercantile Exchange
(COMEX/NYMEX) and the Shanghai Futures Exchange (SHFE). In these
exchanges, prices are settled by bid and offer, reflecting the market's
perceptionofsupplyanddemandofacommodityonaparticularday.On
the LME, copper is traded in 25 tonne lots and quoted in US dollars per
tonne;onCOMEX,copperistradedinlotsof25,000poundsandquoted
in US cents per pound; and on the SHFE, copper is traded in lots of 5
tonnesandquotedinRenminbipertonne.Morerecently,minicontracts
ofsmallerlotssizeshavebeenintroducedattheexchanges.

Exchanges also provide for the trading of futures and options contracts.
These allow producers and consumers to fix a price in the future, thus
providingahedgeagainstpricevariations.Inthisprocesstheparticipation
of speculators, who are ready to buy the risk of price variation in
exchangeformonetaryreward,givesliquiditytothemarket.Afuturesor
options contract defines the quality of the product, the size of the lot,
delivery dates, delivery warehouses and other aspects related to the
tradingprocess.Contractsareuniqueforeachexchange.Theexistenceof
futures contracts also allows producers and their clients to agree on
differentpricesettlingschemestoaccommodatedifferentinterests.
Exchanges also provide for warehousing facilities that enable market
participants to make or take physical delivery of copper in accordance
witheachexchange'scriteria.
AverageAnnualCopperPrices(LME,GradeA,Cash),19602013

US$pertonne
Source:ICSG

10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012

Current $

International Copper Study Group

Constant 2009 $

33

The World Copper Factbook 2014

CopperStocks,PricesandUsage(Jan2001Jun2014)
ThousandmetrictonnesandUScents/pound
Source:ICSG
3,375

450

3,000

400

2,625

350

2,250

300

1,875

250

1,500

200

1,125

150

750

100

375

50

Price LME (US cents/pound)

Thousand metric tonnes, copper

0
Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan
01
02
03
04
05
06
07
08
09
10
11
12
13
14
Exchanges

Producers

International Copper Study Group

Merchants

Consumers

3 mth moving average copper usage seasonally adjusted

Price LME (UScents/pound)

34

The World Copper Factbook 2014

Chapter4:CopperUsage

HowIsCopperUsed?
Copper is shipped to fabricators mainly as cathode, wire rod, billet, cake (slab) or ingot. Through extrusion, drawing, rolling, forging,

melting,electrolysisoratomization,fabricatorsformwire,rod,tube,sheet,plate,strip,castings,powderandothershapes.Thefabricators
oftheseshapesarecalledthefirstusersofcopper.Thetotaluseofcopperincludescopperscrapthatisdirectlymeltedbythefirstusersof
coppertoproducecoppersemis.

Copper and copper alloy semis can be further transformed by downstream industries for use in end use products such as automobiles,

appliances,electronics,andawholerangeofothercopperdependentproductsinordertomeetsocietysneeds.Thissectionprovidesa
rangeofinformationaboutrefinedcopperusage,totaluse,majorusesofcopperandenduse.

Forthemostuptodateinformationonrefinedcopperusage,pleasevisittheICSGwebsiteatwww.icsg.org

International Copper Study Group

35

The World Copper Factbook 2014

WorldRefinedCopperUsage,19002013
24,000

Thousandmetrictonnes
Source:ICSG

22,000
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0

Since1900,apparentusageforrefinedcopperhasincreasedfromlessthan500thousandtonnesto21.2millionmetrictonnesin2013as
usageovertheperiodgrewbyacompoundannualgrowthrateof3.4%peryear.

International Copper Study Group

36

The World Copper Factbook 2014

RefinedCopperUsagebyRegion,1960,1980&2013

Thousandmetrictonnes
Source:ICSG

Thousand Metric Tonnes Copper

14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1960
Europe

Africa

1980
Asia

Latin America

2013
North America

Oceania

ThekeydrivertoglobalrefinedcopperusagehasbeenAsia,wheredemandhasexpandedmorethanfivefoldoverthelast30years.

International Copper Study Group

37

The World Copper Factbook 2014

WorldRefinedCopperUsage*perCapita:19502013
Sources:ICSGandUSCensusBureau
8

3.5

3.0
2.5

5
2.0
4
1.5
3

kg per person

Population (bln)

1.0

0.5

0.0

0
1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
World Population

Refined Copper Usage per Capita

*Refinedcopperistypicallyconsumedbysemisfabricatorsorthefirstusersofrefinedcopper,includingingotmakers,masteralloyplants,wirerod
plants,brassmills,alloywiremills,foundriesandfoilmills.Asaresult,percapitaconsumptionofrefinedcopperreferstotheamountofcopper
consumedbyindustrydividedbythetotalpopulationanddoesnotrepresentconsumptionofcopperinfinishedproductsperperson.

International Copper Study Group

38

The World Copper Factbook 2014

IntensityofRefinedCopperUsage*
Sources:ICSGandInternationalMonetaryFund
GDP per capita (US$) Intensity (tonnes/US$bln)
64863
55.871
45383
433.315
11311
187.839
51990
85.968
15776
342.630
6747
1,033.996
3226
498.355
43000
76.254
44999
312.158
1505
243.263
3510
281.516
4751
365.861
34715
266.318
38491
203.276
24329
589.458
10548
646.615
10630
265.386
13394
462.724
14819
313.661
24847
249.240
29150
249.393
57907
218.338
20930
894.242
5674
641.003
10815
565.758
43875
741.984
53101
109.228
1902
527.658
1474
1,413.491

IntensityofCopperUsage2013
1600
1400
Copper usage per GDP (tonnes/ US$ bln)

2013 data
Australia
Belgium
Brazil
Canada
Chile
China
Egypt
France
Germany
India
Indonesia
Iran
Italy
Japan
Korean Rep.
Malaysia
Mexico
Poland
Russian Fed.
Saudi Arabia
Spain
Sweden
Taiwan
Thailand
Turkey
United Arab Emirates
United States
Vietnam
Zambia

Zambia

1200
1000

China
Taiwan

800

UnitedArabEmbirates
ThailandMalaysia
Turkey
Vietnam
Egypt
Poland
Chile
Iran
Indonesia MexicoRussia
India
Brazil

600
400
200

KoreanRep.
Belgium
Spain
SaudiArabia

Italy

Germany
Japan
France

Sweden
UnitedStates
Canada

Australia

0
0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

GDP per capita (US$)

*Refinedcopperistypicallyconsumedbysemisfabricatorsorthefirstusersofrefinedcopper,includingingotmakers,masteralloyplants,wirerod
plants,brassmills,alloywiremills,foundriesandfoilmills.Asaresult,percapitaconsumptionofrefinedcopperreferstotheamountofcopper
consumedbyindustrydividedbythetotalpopulationanddoesnotrepresentconsumptionofcopperinfinishedproductsperperson.

International Copper Study Group

39

The World Copper Factbook 2014

TotalCopperUsage,IncludingDirectMeltedCopperScrap,20022012
Thousandmetrictonnescopper
Source:ICSGRecyclablesSurveyMarch2014

30,000

Direct melt scrap

Refined usage

25,000
20,000
15,000
10,000
5,000
0
2002
International Copper Study Group

2004

2006

2008

2010

2012
40

The World Copper Factbook 2014

MajorUsesofCopper:Electrical
Copper is the best non
precious metal conductor of
electricity as it encounters
much
less
resistance
compared
with
other
commonlyusedmetals.Itsets
the standard to which other
conductorsarecompared.

sources such as solar, wind, geothermal, fuel cells and other


technologies areall heavily reliant on copperdue to its excellent
conductivity.
ICSG, in partnership with the Common Fund for Commodities,
the International Copper Association and the International
Copper Promotion Council (India), is supervising the Transfer of
TechnologyforHighPressureCopperDieCastinginIndiaproject.
The project is designed to facilitate the transfer of technology
relatedtothemanufactureofrotors,motorsandmotorsystems
usingmoreenergyefficienthighpressurecopperdiecastings.

Copper is also used in power cables, either insulated or


uninsulated,forhigh,mediumandlowvoltageapplications.
Inaddition,copper'sexceptionalstrength,ductilityandresistance
to creeping and corrosion makes it the preferred and safest
conductorforcommercialandresidentialbuildingwiring.
Copper is an essential
component of energy
efficient generators,
motors, transformers
and renewable energy
production
systems.
Renewable
energy

International Copper Study Group

Images courtesyoftheCopperDevelopmentAssociation.

41

The World Copper Factbook 2014

MajorUsesofCopper:Electronicsand
Communications

Copper plays a key role in


worldwide information and
communications technologies.
HDSL (High Digital Subscriber
Line) and ADSL (Asymmetrical
Digital
Subscriber
Line)
technology allows for highspeed
data transmission, including
internet service, through the
existingcopperinfrastructureofordinarytelephonewire.

Semiconductor manufacturers
have launched a revolutionary
"copper chip." By using copper
for circuitry in silicon chips,
microprocessors are able to
operateathigherspeeds,using
less energy. Copper heat sinks
help remove heat from transistors and keep computer
processors operating at peak efficiency. Copper is also
used extensively in other electronic equipment in the
formofwires,transformers,connectorsandswitches.

Copper and copper alloy products are used in domestic


subscriber lines, wide and local area networks, mobile
phonesandpersonalcomputers.

ImagescourtesyoftheCopperDevelopmentAssociationandEuropeanCopperInstitute.

International Copper Study Group

42

The World Copper Factbook 2014

MajorUsesofCopper:Construction
Copper and brass are the
materials of choice for
plumbing, taps, valves and
fittings.Thanksinparttoits
aesthetic appeal, copper
and its alloys, such as
architectural bronze, is
usedinavarietyofsettings
to build facades, canopies,
doorsandwindowframes.
Unlike plastic tubing,
copperdoesnotburn,melt
or release noxious or toxic
fumes in the event of a fire. Copper tubes also help
protect water systems from potentially lethal bacteria
such as legionella. Copper fire sprinkler systems are a
valuablesafetyfeatureinbuildings.

The use of copper


doorknobs and plates
exploits
copper's
biostatic properties to
helppreventthetransferofdiseaseandmicrobes.
Copper roofing, in addition
to being attractive, is well
known for its resistance to
extreme
weather
conditions. Major public
buildings,
commercial
buildings and homes use
copper for their rainwater
goods and roofing needs.
The telltale green patina
finish, that gives copper the classic look of warmth and
richness,istheresultofnaturalweathering.

ImagescourtesyoftheCopperDevelopmentAssociationandtheInternationalCopperAssociation.
International Copper Study Group

43

The World Copper Factbook 2014

MajorUsesofCopper:Transportation
All major forms of transportation depend on copper to
performcriticalfunctions.

Coppernickel alloys are used on the


hulls of boats and ships to reduce
marine biofouling, thereby reducing
dragandimprovingfuelconsumption.

Automobiles and trucks rely on copper


motors, wiring, radiators, connectors, brakes and
bearings. Today, the average midsize automobile
contains about 22.5 kg (50 lbs) of copper, while luxury
cars on average contain around 1,500 copper wires
totalingabout1.6km(1mile)inlength.

Electric and hybrid vehicles can contain even higher


levelsofcopper.Copper'ssuperiorthermalconductivity,
strength, corrosion resistance and recyclability make it
ideal for automotive and truck radiators. New
manufacturing technologies, processes and innovative
designs are resulting in lighter, smaller and more
efficientradiators.

Copper is also used extensively in new generation


airplanes and trains. New highspeed trains can use
anywhere from 2 to 4 tonnes of copper, significantly
higherthanthe1to2tonnesusedintraditionalelectric
trains.

ImagescourtesyoftheCopperDevelopmentAssociationandtheEuropeanCopperInstitute.

International Copper Study Group

44

The World Copper Factbook 2014

MajorUsesofCopper:IndustrialMachinery
andEquipment

Whereverindustrialmachineryandequipmentisfound,it
isasafebetthatcopperanditsalloysarepresent.Dueto
theirdurability,machinabilityandabilitytobecastwith
highprecisionandtolerances,copperalloysareidealfor
making products such as gears, bearings and turbine
blades.

The corrosion resistant properties of copper and copper


alloys (such as brass, bronze, and coppernickel) make
them especially suitable for use in marine and other
demandingenvironments.

Copper's superior heattransfercapabilitiesandabilityto


withstandextremeenvironmentsmakesitanidealchoice
forheatexchangeequipment,pressurevesselsandvats.

Vessels, tanks, and piping exposed to seawater,


propellers, oil platforms and coastal power stations, all
dependoncopper'scorrosionresistanceforprotection

ImagescourtesyoftheCopperDevelopmentAssociation.

International Copper Study Group

45

The World Copper Factbook 2014

Major Uses of Copper: Consumer and General


Products
From the beginning of civilization copper has been used
byvarioussocietiestomakecoinsforcurrency.

Today, countries are replacing


lower denomination bills with
copperbased coins, as these
coins last 10, 20 and even 50
timeslonger.

In the United States, one cent


coins and five cent coins contain 2.5% and 75% copper,
respectively,whileotherU.S.coinscontainapurecopper
core and 75% copper face.1 In the recently expanded
EuropeanUnion,theEurocoins,firstintroducedin2002,
alsocontaincopper.

Copper and copperbased products are used in offices,


households and workplaces. Computers, electrical
appliances,cookware,brassware,andlocksandkeysare
justsomeoftheproductsexploitingcopper'sadvantages.

Inaddition,inareasknowntobecopperdeficient,copper
isusedbyfarmerstosupplementlivestockandcropfeed.

ImagescourtesyoftheInternationalCopperAssociationandtheCopperDevelopmentAssociation.

Source: U.S. Department of the Treasury.

International Copper Study Group

46

The World Copper Factbook 2014

MajorUsesofCopper:UsagebyRegionandEndUseSector,2013
Basis:coppercontent,thousandmetrictonnes
Source:InternationalWroughtCopperCouncil(IWCC)andInternationalCopperAssociation(ICA)

Europe
19%

Industrial
12%

Americas
14%

Equipment
31%

Transport
12%

ROW
5%

Infrastructure
15%

Asia
62%

International Copper Study Group

Building
Construction
30%

47

The World Copper Factbook 2014

Chapter5:CopperRecycling

Copper is among the few


materials that do not degrade or
lose their chemical or physical
properties in the recycling
process. Considering this, the
existing copper reservoir in use
can well be considered a
legitimate part of world copper reserves. In the recent
decades, an increasing emphasis has been placed on the
sustainability of material uses in which the concept of
reuse and recycling of metals plays an important role in
the material choice and acceptance of products. If
appropriately managed, recycling has the potential to
extendtheuseofresources,andtominimizeenergyuse,
someemissions,andwastedisposal.

Closingmetalloopsthroughincreasedreuseandrecycling
enhancestheoverallresourceproductivityandtherefore
representsoneofthekeyelementsofsocietystransition
towards more sustainable production and consumption
patterns. It is widely recognized that recycling is not in
opposition to primary metal production, but is a
necessaryandbeneficialcomplement.
In 2012, ICSG estimates that more than 30% of copper
consumptioncamefromrecycledcopper.Somecountries'
copper requirements greatly depend on recycled copper
to meet internal demands. However, recycled copper
alone cannot meet society's needs, so we also rely on
copperproducedfromtheprocessingofmineralores.

ImagescourtesyoftheEuropeanCopperInstitute.
International Copper Study Group

48

The World Copper Factbook 2014

Copper Recycling Rate Definitions


The recycling performance of copper-bearing products
can be measured and demonstrated in various ways
depending, among other things, on objectives, scope,
data availability and target audience. The three
International Non-Ferrous Metal Study Groups in
conjunction with various metal industry associations
agreed on the common definitions of the three following
metal recycling rates:
The Recycling Input Rate (RIR) measures the
proportion of metal and metal products that are
produced from scrap and other metal-bearing lowgrade residues. The RIR is mainly a statistical
measurement for raw material availability and supply
rather than an indicator of recycling efficiency of
processes or products. The RIR has been in use in the
metals industry for a long time and is widely available
from statistical sources. Major target audiences for this
type of metallurgical indicator are the metal industry,
metal traders and resource policy makers. However,
given structural and process variables, it may have
limited use as a policy tool.
International Copper Study Group

The Overall Recycling Efficiency Rate (Overall


RER) indicates the efficiency with which end of life
(EOL) scrap, new scrap, and other metal-bearing
residues are collected and recycled by a network of
collectors, processors, and metal recyclers. The key
target audiences of this particular indicator are metal
industry, scrap processors and scrap generators.
The EOL Recycling Efficiency Rate (EOL RER)
indicates the efficiency with which EOL scrap from
obsolete products is recycled. This measure focuses
on end-of-life management performance of products
and provides important information to target audiences
such as metal and recycling industries, product
designers, life cycle analysts, and environmental
policy makers.

49

The World Copper Factbook 2014

ICSG Global Copper Recyclables Use, 2004-2012


Thousand metric tonnes
Source: ICSG Recyclables Survey March 2014

2004

2005

2006

2007

2008

2009

2010

2011

2012

Americas

1,324

1,325

1,395

1,441

1,275

1,143

1,198

1,256

1,213

Asia

3,279

3,468

4,132

4,244

4,706

4,192

4,913

4,951

4,993

Europe

2,624

2,440

2,585

2,556

2,424

1,927

2,226

2,119

2,177

37

37

25

29

24

23

24

33

56

World / Total Scrap Use

7,269

7,279

8,141

8,279

8,437

7,290

8,365

8,366

8445

Scrap use Annual Growth

9%

0%

12%

2%

2%

-14%

15%

0%

1%

Secondary refined production

2,069

2,161

2,613

2,738

2,823

2,841

3,250

3,470

3,580

Cu content of Direct Melt

5,199

5,118

5,528

5,541

5,614

4,448

5,116

4,896

4,865

Refined Usage

16,838

16,674

17,034

18,196

18,053

18,070

19,346

19,830

20,550

Total copper usage

22,037

21,792

22,563

23,737

23,667

22,518

24,462

24,726

25,415

Recycling Input Rate (RIR)

33%

33%

36%

35%

36%

32%

34%

34%

33%

Asia

31%

32%

37%

34%

36%

30%

33%

33%

31%

Europe

42%

41%

41%

41%

42%

44%

45%

42%

45%

North America

29%

29%

32%

33%

32%

34%

33%

34%

33%

Rest of the World

13%

15%

15%

18%

16%

14%

12%

14%

14%

Africa & Oceania

International Copper Study Group

50

The World Copper Factbook 2014

ICSGGlobalCopperScrapResearchProjectandrecentscrapreports

Basedoninterestexpressedbymembercountries,ICSGlaunchedthecopperscrapmarketprojectin2007inordertoprovidegreatertransparencyonan

increasinglyvitalcomponentoftheworldcoppermarketatatimewhenglobalizationisreshapingthecopperscrapandcopperalloyrecyclingbusiness.The
finalreportoftheprojectwaspublishedinAugust2010.Inaddition,ICSGhascompletedanumberofnewdetailedreportsonNAFTA,European,Middle

EasternandChinesescraprecoveryandscrapsupplyinrecentyears.FormoreinformationaboutICSGworkrelatedtocopperscrap,pleasecontacttheICSG
Secretariatatmail@icsg.org

KeyDriversoftheGlobalCopperScrapMarket

ExpandingCopperMineProductionandRefinedCopper
Substitution
IndustrializationandEconomicGrowth
Prices
o CopperScrapPricesandSpreads
o RefinedCopperPricesandtheDemandforScrap
Chinesescrapmarketdevelopments
TheShiftinRegionalScrapProcessingCapacity
RegulationsonRecyclingandTrade
Technology

ICSGGlobalCopperScrapProjectReports

SurveyofBrassMills,CopperProductsandFoundriesinChina
(2014)

MiddleEastandNorthAfricaCopperUseStudy(2014)

CopperandCopperAlloyScrapSupplySurveyinEU27(2013)

CopperScrapMarketRecoveryinNAFTA(2012)

CopperScrapSupplySurveyinChina(2012)

SurveyonNonferrousMetalScrapandRefinedInputs&
ProductioninChineseSemisPlants(2012)

ICSGGlobalCopperScrapResearchProjectFinalReport(2010)

JapanScrapMarketReport

ChinaScrapUsageSurvey

International Copper Study Group

51

The World Copper Factbook 2014

The Flow of Copper


Trade

Concentrates/
Matte

Blister/
Anode

Production

Mining

SX/EW

Mine

Smelter

Scrap
Recycling

Refinery

By-products/
slag/ashes

Tailings

Scrap for
Smelting
incl. low grade

International Copper Study Group

Wire rod

Refined
Usage

Chemicals

Hydromet.
Plant

Refined
Copper

Scrap for
Refining

Alloy
Ingot

Alloy
Metals

Semis
Net Trade

Fabrication
Wire rod plant /
Wire mill
Brass
mill
Foundry

Other Plants

Direct
Melt
987

Semis Supply

New Scrap
Low Grade
Residues

Ingot
Maker
scrap

alloys

refined

52

The World Copper Factbook 2014

The Flow of Copper (cont.)


Finished
Products

Semis
Import

Product
Supply

Construction
Finished
Products

Copper
Reservoir
in Use

C&D
EOL
Products

Abandoned/
Stored/
Reused
End-of-Life
Products

Consumer/ Gen.
Other Uses

ELV
WEEE
MSW & Other

Recycling
losses new
scrap

Low grade
from Fabr.

INEW
IEW

Transport

End-of-Life Management

Ind. equipment

(EOL Management
adjusted for
export/reuse after
collection)

EOL
Products

Product Use
(Lifetime)

Manufacture

E&E Equipment

Net
Trade

Dissipative
Uses

Disposal/
Other Uses

Recycling
New
Scrap

Recycling
International Copper Study Group

Old
Scrap
Scrap &
Low grade
Net Trade

Other Metal
Loops

53

The World Copper Factbook 2014

IndustryGlobalFlowsofCopper(2012)andDerivedRecyclingRates
FiguresproducedfortheInternationalCopperAssociationbyFraunhoferISIbasedonEnviron.Sci.Technol.47(12),pp.65646572(freely
availableunderhttp://dx.doi.org/10.1021/es400069b).

Recycling
Indicator
Recycling Input
Rate
EoL Recycling
Input Rate
EoL Collection
Rate
EoL Processing
Rate
EoL Recycling
Rate
Overall
Processing Rate
Overall Recycling
Efficiency Rate
Old Scrap Ratio

International Copper Study Group

Indicator value
(10-year avg.)
35%
19%
65%
68%
44%
80%
61%
53%

54

The World Copper Factbook 2014

ANNEX
World Copper Production and Usage, 1960-2013
Thousand Metric Tonnes
Source: ICSG

1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977

Mine
Production
3,924
4,081
4,216
4,286
4,443
4,769
4,987
4,743
5,010
5,682
5,900
5,941
6,541
6,915
7,097
6,735
7,289
7,444

Refined
Production
4,998
5,127
5,296
5,400
5,739
6,059
6,324
6,004
6,653
7,212
7,592
7,404
8,100
8,544
8,759
8,187
8,632
8,884

Refined
Usage
4,738
5,050
5,048
5,500
5,995
6,193
6,445
6,195
6,523
7,137
7,291
7,296
7,942
8,740
8,310
7,445
8,539
9,057

International Copper Study Group

1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995

Mine
Production
7,306
7,371
7,230
7,721
7,745
7,843
8,137
8,288
8,266
8,592
8,775
9,084
9,226
9,372
9,497
9,553
9,549
10,085

Refined
Production
9,030
9,200
9,261
9,573
9,319
9,541
9,440
9,616
9,920
10,148
10,512
10,908
10,804
10,686
11,042
11,249
11,124
11,832

Refined
Usage
9,527
9,848
9,396
9,522
9,090
9,510
9,930
9,798
10,112
10,293
10,668
11,081
10,886
10,563
10,866
10,992
11,560
12,043

1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013p

Mine
Production
11,099
11,538
12,251
12,775
13,206
13,633
13,577
13,757
14,592
14,923
14,984
15,516
15,571
15,950
16,038
16,053
16,700
18,082

Refined
Refined
Production Usage
12,677
12,489
13,478
13,082
14,075
13,435
14,578
14,213
14,793
15,112
15,638
14,928
15,354
15,123
15,272
15,626
15,918
16,738
16,572
16,554
17,291
16,924
17,903
18,039
18,214
17,888
18,249
17,894
18,986
19,129
19,596
19,697
20,137
20,387
20,930
21,230
p - preliminary

55

International Copper Study Group


Rua Almirante Barroso 38 6th
1000-013 Lisbon, Portugal
Tel: +351-21-351-3870 Fax: +351-21-352-4035
e-mail: mail@icsg.org
Web site: www.icsg.org

International Copper Study Group

56