Copper facts

Copper is a soft and malleable metal that is used in:

• electrical wires and cables for its conductivity
• plumbing, industrial machinery, and construction materials for its durability, machinability and resistance to corrosion
• emerging clean technologies, such as solar cells and electric vehicles

Learn more about copper

Uses

Copper plays a crucial role across various industries, including manufacturing, construction and transportation. As an essential trace mineral, it is vital for all living organisms, with the adult human containing between 1.4 and 2.1 milligrams per kilogram of body weight. The green energy transition is anticipated to significantly increase copper demand because of its critical applications in expanding electricity networks and clean energy technologies, such as electric vehicles.

Production

Canada has almost 900 million tonnes of copper reserves in abundant sulphide and porphyry deposits. Copper can be mined as a primary product or extracted as a by-product of other metals such as gold, molybdenum, zinc, nickel and lead.

In 2023, Canadian mines produced 508,250 tonnes of copper in concentrate, marking a slight decrease of 0.2% from the 509,062 tonnes produced in 2022 and setting a new decade low. From 2014 to 2023, copper production in Canada declined 22.3%, falling from 654,468 tonnes to 508,250 tonnes.

Refined copper is produced at two sites in Canada, in Quebec and Newfoundland and Labrador.

British Columbia led Canada’s copper production, accounting for nearly 46% of the nation’s total output. The province is home to Canada’s largest copper mine, Highland Valley, near Logan Lake.

Consult a map of producing Canadian mines

Canadian mine production of copper, by province and territory, 2023 (p)

Ranking	Province	Thousand tonnes	Percentage
1	British Columbia	233	45.8
2	Ontario	222	43.7
3	Quebec	18	3.5
4	Manitoba	12	2.4
	Others	23	4.6
Total		508	100

International context

In 2023, Chile led global copper production with 5 million tonnes of copper, representing 22.7% of the world’s total mined output of approximately 22.0 million tonnes. Canada ranked 12th, contributing 2.2% of global mined copper.

Refined copper production worldwide increased by 4.8% in 2023, reaching 26.6 million tonnes, up from 25.3 million tonnes in 2022. This total included 22.1 million tonnes from primary sources and 4.5 million tonnes from secondary sources, compared to 21.1 million tonnes and 4.2 million tonnes, respectively, the previous year.

World mine production of copper, by country, 2023 (p)

Ranking	Country	Thousand tonnes	Percentage
1	Chile	5,000	23
2	Peru	2,600	12
3	Democratic Republic of Congo (DRC)	2,500	11
4	China	1,700	8
5	United States	1,100	5
6	Russia	910	4
7	Indonesia	840	4
8	Australia	810	4
9	Zambia	760	3
10	Mexico	750	3
	Other countries	3,100	14
Total (rounded)		22,000	100

World reserves

In 2023, Chile held the largest share of global copper reserves, totaling 190 million tonnes or 19% of the total reserves. With worldwide reserves estimated at 1 billion tonnes, Canada holds about 7.6 million tonnes, making up less than 1% of the global total.

Trade

In 2023, Canada's total trade (exports and imports) in copper and copper-based products was valued at $15.1 billion.

Exports

In 2023, Canada's domestic exports of copper and copper-based products were valued at $9.3 billion, a 1% decrease from the previous year. The United States was the largest importer, accounting for 52% of the total export value, followed by China at 17% and Japan at 12%.

Canada exported 334,079 tonnes of copper ores and concentrates in 2023, a 10% decline from 2022. These exports were valued at $3.4 billion, down 7% from the previous year. China and Japan were the primary destinations of Canadian copper concentrate.

Refined copper exports totaled 151,445 tonnes in 2023, an 11% increase from 2022. These exports were valued at $1.7 billion, up 8% from the previous year.

Imports

Canada’s imports of copper and copper-based products amounted to $5.8 billion in 2023, down 6% from 2022. Refined copper alone was valued at $292 million.

The United States was the main source, contributing 53% of the total. Other significant sources included Chile and Sweden, each providing 11%, followed by China and Zambia, each providing 4%.

Prices

Copper prices have seen significant fluctuations over the past decade. In 2014, the average monthly price per tonne was US$6,863 and declined to a decade low of US$4,472 in 2016 and peaked at US$10,231 in March 2022.

Prices dipped in early 2020 because of the onset of the COVID-19 pandemic but quickly rebounded later that year, reaching US$10,162 by May 2021. In 2023, the average price remained relatively high at US$8,490, with minimal fluctuations. The highest monthly price in January was US$9,037, followed by a dip to US$7,937 in October and a recovery to US$8,399 by December.

Recycling

Copper is one of the few materials that retains its chemical and physical properties through repeated recycling, making it an ideal candidate for resource conservation and waste reduction.

According to the International Copper Study Group, 32% of global copper consumption in 2022 came from recycled sources.

Canada plays a key role in copper recycling, with significant quantities of the metal recovered through its well established industry. A substantial portion of this recycling occurs at smelting and refining facilities in Rouyn-Noranda and Montréal, Quebec.