The global copper supply chain comprises ore extraction, processing, and production of refined copper; copper’s exceptional properties - outstanding electrical and thermal conductivity, malleability, and corrosion resistance - make it vital for various industries. (p. 3, Figure 1)

China’s role as a major processing center is a notable feature of the supply chain; Chile and Peru account for nearly half of global copper ore and concentrate exports while Zambia and the DRC are key exporters of unrefined copper; China is the largest destination for most of these exports and is also the largest importer of refined copper. (p. 4, Figure 2)
Five countries hold over 50 percent of the world’s total reserves: Chile has the largest share, followed by Australia and Peru, then the DRC and Russia. (p. 5, Figure 3)

Meeting the expected demand for copper by 2040 may require more than 10 million tons of additional copper; the world may need to develop 80 new copper mines at an investment of US$250 billion; in 2023 nearly half of demand came from building construction and consumer electronics. (p. 6, Figure 4)
Mine production of copper refers to extraction of copper ores from the earth; developing countries play a central role in the global copper industry, particularly in mining, with Chile leading production, followed by the DRC and Peru; the DRC is rapidly strengthening its position as a leading copper producer thanks to the high quality of its reserves, while Chile’s production has declined. (p. 6, Figure 5)

Refinery production involves the processing of mined ore into pure, usable copper; global copper refinery production grew 2.5 times from 1990 to 2023 and has increased by 10% in the last five years; much of the expansion is from China which now accounts for 45% of global output and has the largest global refining capacity; China accounts for the Asia’s dominance in refining; Africa’s share of refining has risen modestly, while the Americas’ share has declined steeply and Europe saw a marked decrease. (pp. 7-11; Figures 6-9)

Geopolitical tensions and logistical challenges can significantly disrupt copper supply chains, and this is often reflected in fluctuating stockpile levels. (pp. 11-12)
Value addition in copper reflects greater economic value through domestic processing and strengthening of key macroeconomic indicators; value addition supports industrial development, job creation, and technological progress; downstream processing investing and manufacturing helps countries boost global competitiveness and reduce reliance on raw material exports; value addition is concentrated in copper wire production. (p. 12, Figure 10)

China, Germany, Japan, and the US are the top exporters of value-added copper; major export markets are India, Southeast Asia, and the EU; four of the top five exporters of copper wire are developed (p. 13, Figure 11)
Copper recycling preserves its physical and chemical properties without degradation, uses significantly less energy than mining and refining newly extracted copper, and can help to meet growing demand with less environmental impact; countries can benefit from exporting copper scrap for recycling; nearly one-third of copper in use in 2023 was recycled; developed countries are the primary source of scrap exports with the US, Germany, Japan, Malaysia, and the Netherlands as the largest exporters. (p. 14, Figure 12)