The World Energy Trade ranking, which relies on data from Miningintelligence, primarily includes large and medium-sized enterprises.
Among these esteemed companies, the Cobre Panamá mine, under the management of First Quantum Minerals, has secured a position within the top ten mines globally when it comes to the volume of ore extraction, as reported by World Energy Trade. According to information provided by the Vancouver-based company, it is anticipated that this mine will yield approximately 96.24 million tons of copper, silver, gold, and molybdenum ore by the third quarter of 2021. Located in Costa Abajo de Colón, covering the Donoso and Omar Torrijos Herrera districts, the Cobre Panamá mine has been operational since 2019 under the ownership of Minera Panamá, contributing 3.5% to the Gross Domestic Product (GDP).
Presently, negotiations are underway between the Cobre Panamá mine and the National Government, aiming to establish a new concession agreement. These discussions have triggered controversy, as certain environmental and community groups oppose the government’s endorsement of open-pit metal mining.
Miningintelligence has compiled a list that highlights the ten most prominent companies within the industry. These companies, predominantly classified as either large or medium-sized enterprises, occupy significant positions in the ranking of the top 50 global mining firms.
Leading this list is the Escondida copper mine, owned by BHP, which holds the distinction of being the largest mine in its category worldwide.
As indicated in the list, it’s noteworthy that Rio Tinto, the world’s second-largest mining company, possesses a 30% ownership interest in the specified mine, which consistently maintains an average daily production rate of 360,000 tons. By extrapolating production data from the initial three quarters, it’s reasonable to project that the Escondida mine is on course to extract approximately 130.78 million tons of copper, silver, and gold ore in the year 2021.
In the rankings, the Collahuasi mine, which is a collaborative venture between Anglo American and Glencore and is situated in Chile, secures the second position. Forecasts indicate that this mine is expected to yield roughly 104.65 million tons of copper, gold, and silver ore in the current year. This represents a substantial increase compared to the 71.9 million tons extracted in 2020.
In the ranking’s fourth position, we find Southern Copper’s Buenavista mine, located in Mexico and renowned as the world’s leading silver producer. According to the report, Southern Copper has earmarked approximately one billion dollars for the expansion of its flagship mine, which encompasses copper, molybdenum, zinc, and silver.
Securing the fifth spot on the list is the Las Bambas mine, operated by MMG in Peru. It is projected that this mine will extract an estimated 65.26 million tons of copper, silver, gold, and molybdenum ore in 2021. Throughout the year, the mine has encountered resistance from the local community, resulting in road blockades by residents. However, following a public meeting with Prime Minister Mirtha Vásquez, the communities agreed to remove the roadblock last month.
In the sixth position, we encounter the Sentinel copper and nickel mine, owned by First Quantum Minerals and situated in Zambia. According to the report, the company has decided not to divest its stake in the Zambian copper mines, and it is estimated that Sentinel will extract approximately 56.69 million tons of ore this year.
Seventh place is held by the Aktogay mine, which is under the operation of Kaz Minerals and focuses primarily on the extraction of copper, silver, gold, and molybdenum ore. Projections indicate that this mine is on track to extract an estimated 53.6 million tons of ore in the current year.
The eighth position belongs to the Paracatu mine, which is owned by Kinross Gold in Brazil. It is estimated that this mine will extract approximately 52.46 million tons of ore in the year.
In the ninth spot, we find the Antamina mine, situated in Peru and jointly owned by BHP and Glencore. This mine specializes in the extraction of copper, lead, zinc, molybdenum, and silver, with production approaching 52.45 million tons of ore extracted.
Lastly, in the tenth position, we have the Los Bronces mine, owned by Anglo American in Chile, specializing in the extraction of copper and molybdenum. It is expected that approximately 43.64 million tons of ore will be extracted from this mine in 2021. COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM
