Global copper reserves are projected to be approximately one billion metric tonnes as of 2023. The world’s largest copper reserves are found in nations like Australia, Chile, and Peru, which together own a sizable share of the reserves worldwide. These reserves are vital because copper is used in many different industries, such as electronics, building, and renewable energy, especially as we move towards more environmentally friendly technologies.
With estimated reserves of 190 million metric tonnes, or 19% of the world’s total, Chile has the greatest deposits of copper worldwide. The Atacama Desert and Andes Mountains contain the majority of these reserves, with important deposits including:
- Escondida: The world’s largest copper mine.
- Chuquicamata: A massive open-pit mine.
- Los Pelambres: A major copper-molybdenum deposit.
Because of its large reserves and well-established mining infrastructure, Chile contributes approximately 30% of the world’s copper production, which is essential to the country’s economy.
Following with 120 million metric tonnes of reserves (or 12% of the world’s total), Peru is mostly supported by large mines as Cerro Verde, Antamina, Las Bambas, and Toromocho. Peru’s economy is based mostly on copper mining, which is helped by favourable mining laws and substantial international investment.
Australia has reserves of around 100 million metric tonnes of copper, and its major mines include Ernest Henry, Mount Isa, and Olympic Dam. These reserves are essential for both exports and domestic use.
The Katanga Copper Belt contains the majority of the Democratic Republic of Congo’s (DRC) 80 million metric tonnes of copper deposits. Renowned worldwide mining conglomerates like Glencore and Ivanhoe Mines run key mines like Tenke Fungurume, Kamoa-Kakula, and Mutanda.
| Country | Reserves (metric tons) | Share of global reserves |
| Chile | 190,000,000 | 19.00% |
| Peru | 120,000,000 | 12.00% |
| Australia | 100,000,000 | 10.00% |
| Congo | 80,000,000 | 8.00% |
| Russia | 80,000,000 | 8.00% |
| Mexico | 53,000,000 | 5.30% |
| United States | 50,000,000 | 5.00% |
| China | 41,000,000 | 4.10% |
| Poland | 34,000,000 | 3.40% |
| Indonesia | 24,000,000 | 2.40% |
| Zambia | 21,000,000 | 2.10% |
| Kazakhstan | 20,000,000 | 2.00% |
| Canada | 7,600,000 | 0.76% |
| Other countries | 180,000,000 | 18.00% |
| Total (Rounded) | 1,000,000,000 |
Source: U.S. Geological Survey, Mineral Commodity Summaries, January 2024
The data displayed on this page could be rounded and contains errors. We cannot promise that all of the information is accurate or full. We disclaim all liability for any mistakes, misstatements, or results obtained from using this information. This is not a guide to investing.
