As of 2023, world copper reserves are estimated to be around 1 billion metric tons. The largest copper reserves are found in countries like Chile, Peru, and Australia, which collectively account for a significant portion of the global reserves. These reserves are crucial as copper is essential for various industries, including electronics, construction, and renewable energy, particularly in the transition to green technologies.
Chile holds the largest copper reserves globally, estimated at 190 million metric tons, or 19% of the world’s total. These reserves are concentrated in the Atacama Desert and Andes Mountains, with key deposits including:
Escondida: The world’s largest copper mine.
Chuquicamata: A massive open-pit mine.
Los Pelambres: A major copper-molybdenum deposit.
Copper is vital to Chile’s economy, with the country producing about 30% of the world’s copper, supported by vast reserves and established mining infrastructure.
Peru follows with 120 million metric tons of copper reserves (12% of the global total), anchored by major mines such as Antamina, Las Bambas, Toromocho, and Cerro Verde. Copper mining is a cornerstone of Peru’s economy, benefiting from a mining-friendly climate and significant foreign investment.
Australia holds about 100 million metric tons of copper reserves, with key mines like Olympic Dam, Mount Isa, and Ernest Henry. These reserves are critical for both domestic use and exports.
The Democratic Republic of Congo (DRC) has over 80 million metric tons of copper reserves, mainly located in the Katanga Copper Belt. Key mines include Tenke Fungurume, Kamoa-Kakula, and Mutanda, operated by global mining giants like Glencore and Ivanhoe Mines.
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% |
World total (rounded) | 1,000,000,000 |
Source: U.S. Geological Survey, Mineral Commodity Summaries, January 2024
The information presented here may contain inaccuracies and is subject to rounding. We do not guarantee that all information is complete or correct. We accept no responsibility for any errors, omissions, or outcomes resulting from the use of this information. This is not investment advice.