The World Energy Trade ranking, which draws its data from Miningintelligence, is predominantly composed of large and medium-sized enterprises.
Among these distinguished companies, the Cobre Panamá mine, overseen by First Quantum Minerals, has attained a position among the world’s top ten mines in terms of ore extraction volume, according to reports from World Energy Trade. As per information provided by the Vancouver-based company, it is expected that this mine will produce approximately 96.24 million tons of copper, silver, gold, and molybdenum ore by the third quarter of 2021. Situated in Costa Abajo de Colón and encompassing the Donoso and Omar Torrijos Herrera districts, the Cobre Panamá mine has been in operation since 2019 under the ownership of Minera Panamá, contributing 3.5% to the Gross Domestic Product (GDP).
Currently, discussions are in progress between the Cobre Panamá mine and the National Government to establish a fresh concession agreement. These talks have sparked debate, with specific environmental and community organizations expressing opposition to the government’s endorsement of open-pit metal mining.
Miningintelligence has compiled a roster highlighting the ten most prominent companies in the industry. These companies, largely falling into the category of substantial or medium-sized enterprises, hold significant positions in the ranking of the top 50 global mining companies.
At the pinnacle of this list stands the Escondida copper mine, under the ownership of BHP, recognized as the world’s largest mine in its class.
As noted in the list, it’s important to highlight that Rio Tinto, the world’s second-largest mining company, holds a 30% ownership stake in the mentioned mine. This mine consistently maintains an average daily production rate of 360,000 tons. When extrapolating production data from the initial three quarters, it’s reasonable to anticipate that the Escondida mine is on track to extract approximately 130.78 million tons of copper, silver, and gold ore in the year 2021.
In the rankings, the Collahuasi mine, a collaborative venture between Anglo American and Glencore located in Chile, secures the second position. Projections suggest that this mine is poised to produce around 104.65 million tons of copper, gold, and silver ore in the current year. This represents a significant increase compared to the 71.9 million tons extracted in 2020.
Ranked fourth in the list is the Buenavista mine of Southern Copper, situated in Mexico, renowned as the world’s foremost silver producer. According to the report, Southern Copper has allocated around one billion dollars for expanding its flagship mine, which encompasses copper, molybdenum, zinc, and silver.
Securing the fifth position on the list is the Las Bambas mine, operated by MMG in Peru. It is anticipated 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 faced resistance from the local community, resulting in road blockades by residents. Nevertheless, following a public meeting with Prime Minister Mirtha Vásquez, the communities agreed to lift the roadblock last month.
In the sixth spot, we encounter the Sentinel copper and nickel mine, which is under the ownership of First Quantum Minerals and located in Zambia. According to the report, the company has chosen 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 position is secured by the Aktogay mine, operated by Kaz Minerals, with its primary focus on extracting copper, silver, gold, and molybdenum ore. Projections suggest that this mine is well on its way to extracting an estimated 53.6 million tons of ore in the current year.
The eighth spot is occupied by the Paracatu mine, owned by Kinross Gold in Brazil. Estimates indicate that this mine will extract approximately 52.46 million tons of ore during the year.
In the ninth position, we come across the Antamina mine, located in Peru and jointly owned by BHP and Glencore. This mine specializes in the extraction of copper, lead, zinc, molybdenum, and silver, with production reaching nearly 52.45 million tons of ore.
Lastly, in the tenth position, we find the Los Bronces mine, owned by Anglo American in Chile, known for its specialization in the extraction of copper and molybdenum. It is anticipated 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
