The Cobre Panamá mine, owned by First Quantum Minerals, has been included in the ranking of the top ten mines in the world in terms of tons of extracted minerals, 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 data reported by the Vancouver-based company.
The Cobre Panamá mine, operational since 2019 and located in the Costa Abajo de Colón in Panama, contributes 3.5% to the country’s Gross Domestic Product (GDP). Currently, the Cobre Panamá mine is in negotiations with the National Government for a new concession contract, which has generated opposition from some environmental and community groups due to government policies promoting open-pit mining. The ten companies listed, based on data from Miningintelligence, are large or medium-sized mining companies, with eight of them being among the top 50 mining companies worldwide. The Escondida copper mine, owned by BHP, the world’s largest mining company, ranks first on the list and is considered the largest mine in the world in its sector.
According to the ranking, Rio Tinto, the second-largest mining company in the world, holds a 30% stake in the Escondida mine, which has an average daily production of 360,000 tons. Based on production figures for the first three quarters, it is estimated that Escondida will extract 130.78 million tons of copper, silver, and gold ore in 2021. Collahuasi mine, a joint venture between Anglo American and Glencore in Chile, ranks second with a projected extraction of 104.65 million tons of copper, gold, and silver ore in 2021, representing a significant jump compared to the 71.9 million tons extracted in 2020.
In fourth place on the ranking is Buenavista mine of Southern Copper in Mexico, the largest silver producer in the world. Southern Copper invested approximately $1 billion in the expansion of its flagship mine for copper, molybdenum, zinc, and silver, according to the report. The fifth position is occupied by Las Bambas mine of MMG in Peru, with a projection of 65.26 million tons of copper, silver, gold, and molybdenum ore for 2021. According to committee data, the mine has faced opposition from the community this year, with residents blocking a key transportation route. Communities agreed to lift the roadblock last month after a public meeting with Prime Minister Mirtha Vásquez. Sentinel copper and nickel mine of First Quantum Minerals in Zambia ranks sixth. According to the report, the company has shelved its plans to sell a stake in its copper mines in Zambia, and Sentinel mine is expected to extract 56.69 million tons of ore this year.
In seventh place is Aktogay copper mine of Kaz Minerals, where 53.6 million tons of copper, silver, gold, and molybdenum ore will be extracted this year. In eighth place is Paracatu mine of Kinross Gold in Brazil, with a forecast extraction of 52.46 million tons of ore this year. The ninth place is occupied by Antamina mine, owned by BHP and Glencore, producing copper, lead, zinc, molybdenum, and silver in Peru, with a figure very close to the 52.45 million tons of ore extracted. And lastly, in the tenth position is Los Bronces copper-molybdenum mine of Anglo American in Chile, with a forecast extraction of 43.64 million tons of ore in 2021.
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