Copper & Nickel Mining Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/3/2024
SIC Codes: 1021
NAICS Codes: 212230
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Copper & Nickel Mining Industry Profile

Companies in this industry develop mine sites, mine and quarry copper and nickel, and prepare copper and nickel for sale. Major companies include BHP Group (Australia), Codelco (Chile), Freeport-McMoRan (US), Glencore (Switzerland), Grupo México (Mexico), and Jiangxi Copper (China).

Worldwide, copper production totaled about 22 million metric tons in 2022, while total global copper reserves increased from 630 million metric tons to 880 million metric tons in the past decade, according to Statista. Copper is mainly produced in Chile, Peru, and the Democratic Republic of the Congo. Global nickel production in 2022 amounted 3.3 million metric tons. Indonesia was the world's largest nickel producing country in 2022.

The US copper and nickel mining industry includes about 60 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $15 billion.


Demand is driven by industrial production and economic growth. Individual company profitability depends on operating efficiency. Large companies have more resources to devote to discovering and developing new deposits. Small companies typically own just one mine, limit exploration to that one property, and aim to operate it as efficiently as possible.

The US is a net exporter of copper and nickel ore. Exports, mainly to Mexico, Canada, China, South Korea, and Australia, account for about 35% of US production. Imports account for 1% of the US market.


Copper and nickel are often used for construction and industrial purposes, to ...

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