The Cobre Panama mine, operated by First Quantum Minerals, has been included in the ranking of the world’s top ten mines in terms of tons of mineral extracted, according to the World Energy Tradel report. It is estimated that approximately 96.24 million tons of copper, silver, gold, and molybdenum ore will be extracted from this mine during the third quarter of 2021, according to production figures reported by the Vancouver-based company. The Cobre Panama mine, owned by Minera Panama, is located on the Costa Abajo de Colon, in the districts of Donoso and Omar Torrijos Herrera. Since its inauguration in 2019, it has contributed 3.5% to the country’s Gross Domestic Product (GDP). Currently, the Cobre Panama mine is in negotiations with the National Government for a new concession contract, despite opposition from some environmental and community groups to the government’s policies promoting open-pit metallic mining.
The ten companies listed, based on data from Miningintelligence, are primarily large or medium-sized mining companies, with eight of them ranking among the top 50 mining companies globally. In the first position on the table is the Escondida copper mine, considered the largest in the world in its field and owned by BHP, the largest mining company in the world. According to the list, Rio Tinto, the second-largest mining company, holds a 30% stake in the mine, which produces an average of 360,000 tons per day. Based on production figures for the first three quarters, Escondida is projected to extract a total of 130.78 million tons of copper, silver, and gold ore in 2021.
In the second position is the Collahuasi mine, a joint venture between Anglo American and Glencore, also located in Chile. It is projected that 104.65 million tons of copper, gold, and silver ore will be extracted from this mine this year, which represents a significant increase compared to the 71.9 million tons extracted in 2020.
The Buenavista mine of Southern Copper in Mexico, the largest silver producer in the world, ranks fourth in the ranking. According to the report, Southern Copper invested around $1 billion in the expansion of its flagship mine for copper, molybdenum, zinc, and silver. In the fifth position is the Las Bambas mine of MMG in Peru, with an estimated 65.26 million tons of copper, silver, gold, and molybdenum ore for 2021. According to the Committee’s data, the mine has faced opposition from the community this year, with residents blocking a key transport route. However, the communities agreed to lift the roadblock last month after a public meeting with Prime Minister Mirtha Vásquez.
In the sixth position is the Sentinel copper and nickel mine, owned by First Quantum Minerals, located in Zambia. According to the report, the company has shelved its plans to sell a stake in its copper mines in Zambia, and Sentinel is expected to extract 56.69 million tons of ore this year. In the seventh position is the Aktogay mine of Kaz Minerals, where 53.6 million tons of copper, silver, gold, and molybdenum ore will be extracted this year. The Paracatu mine of Kinross Gold in Brazil ranks eighth, with a forecast extraction of 52.46 million tons of ore this year.
The ninth position is occupied by the Antamina mine, owned by BHP and Glencore, in Peru, with a figure very close to the 52.45 million tons of copper, lead, zinc, molybdenum, and silver ore extracted. Finally, in the tenth position is the Los Bronces mine of Anglo American in Chile, with a forecast extraction of 43.64 million tons of copper and molybdenum ore in 2021.
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