BHP set to dethrone Codelco as world’s biggest copper producer

Bloomberg News | April 9, 2024 | 

BHP’s Spence Growth Option project. (Image courtesy of BHP).

The copper industry is about to get a new leader as BHP Group overtakes Codelco in the global producer rankings, according to Bloomberg Intelligence estimates.


As long as BHP’s giant Escondida mine in Chile continues to step up production, the Australian company will nudge past Codelco this year, disrupting the Chilean state-owned behemoth’s reign as No. 1, said Bloomberg Intelligence analyst Grant Sporre.

Still, Codelco may recover the top spot in the years ahead as it battles to recover from delays and missteps at its projects.

(By James Attwood)

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