The World Energy Trade ranking, compiled using data from Miningintelligence, primarily consists of large and medium-sized enterprises.
Among these distinguished companies, the Cobre Panamá mine, operated by First Quantum Minerals, has secured a position among the world’s top ten mines in terms of ore extraction volume, 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).
At present, negotiations are underway between the Cobre Panamá mine and the National Government to formalize a new concession agreement. These negotiations have generated controversy, with certain environmental and community groups opposing the government’s support for open-pit metal mining.
Miningintelligence has assembled a list featuring the ten most notable companies within the sector. These companies, primarily of substantial size or medium scale, occupy prominent positions in the ranking of the top 50 global mining companies.
Topping this list is the Escondida copper mine, owned by BHP, which is renowned as the world’s largest mine in its category.
As detailed in the listing, it’s noted that Rio Tinto, the world’s second-largest mining company, maintains a 30% ownership interest in the specified mine, which consistently produces an average of 360,000 tons per day. By projecting based on production figures from the initial three quarters, it can be reasonably estimated that the Escondida mine is poised to extract around 130.78 million tons of copper, silver, and gold ore throughout the year 2021.
In the ranking’s fourth position, we find Southern Copper’s Buenavista mine, situated in Mexico, recognized as the world’s leading silver producer. According to the report, Southern Copper has allocated approximately one billion dollars towards 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 expected that this mine will extract an estimated 65.26 million tons of copper, silver, gold, and molybdenum ore in the year 2021. Over the course of this year, the mine has encountered resistance from the local community, leading to 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 find the Sentinel copper and nickel mine, which is owned by First Quantum Minerals and located in Zambia. According to the report, the company has opted 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. MINERIA COBRE
Seventh place is occupied by the Aktogay mine, operated by Kaz Minerals, with a focus on extracting copper, silver, gold, and molybdenum ore. It is projected that this mine will extract an estimated 53.6 million tons of ore in the current year. MINERIA COBRE
The eighth position goes to the Paracatu mine, owned by Kinross Gold in Brazil. It is estimated that this mine will extract approximately 52.46 million tons of ore for this year.
In ninth place stands the Antamina mine, situated in Peru and jointly owned by BHP and Glencore. This mine is dedicated to the extraction of copper, lead, zinc, molybdenum, and silver, with production very close to 52.45 million tons of ore extracted. FIRST QUANTUM
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.
