Copper (Cu) was the first metal used on earth and has been mined for several
thousand years (dated to 13000 BC) and its early uses can be attributable to
its easy workability, softness, resistance to corrosion and colour and texture.
The growth of the copper industry is directly linked to the role of electricity
generation and transportation, where it is used extensively. It’s unique
properties of high conductivity to heat and electricity, good tensile strength,
non-magnetic properties and resistance to corrosion has made it an important
commodity in the modern world. The development of copper-based alloys has
enhanced its properties and copper is used in increasingly diverse range of
applications.
End uses of copper are in construction (electrical, heating, refrigeration,
pipes, tubes etc.), electrical and electronic (telecommunications and
lighting), general engineering, transport and household appliances. Copper is
usually associated with other metals such as zinc, nickel, molybdenum and gold.
Copper combines with sulphur and iron to form sulphide minerals, which may
occur with these metals as either massive sulphide deposits, or as disseminated
deposits known as porphyries. The most common copper ore mineral is
chalcopyrite (CuFeS2). Bornite (Cu5FeS4), covellite (CuS) and chalcocite (Cu2S)
are important sources in the world, and many ore bodies also contain secondary
copper minerals, malachite ((CuCO3Cu(OH)2), azurite (Cu3(CO3)2.Cu(OH)2),
cuprite (Cu2O), tenorite (CuO) and native copper. Chile, the USA and Australia
are major producers of copper globally.
Aluminium can be substituted for copper as suitable electricity conductors
e.g. power cables, electrical equipment, radiators and refrigerating tubing.
Optical fibres can also replace copper in some telecommunication applications.
Plastics also substitute copper in plumbing fixtures and other structural
applications.
In 2003 global copper mine production was 13.63 Mt compared with 13.57 Mt in 2002 at the same time world mine capacity also increased to 15,581metric tonnes compared to 15,077 metric tonnes in 2002. Primary refined production in 2003 was up 0.1% to 13.54 Mt, whilst secondary refined production decreased from 1,834 tonnes in 2002 to 1,653 metric tonnes in 2003, however overall world refinery capacity increased to 18,738,000 metric tonnes from 18,277 metric tonnes.The average annual LME cash price was US$1,780 in 2003 comparing to an annual average of US$1,557.5 per tonne in 2002. Since the end of 2001 the price of copper has quadrupled to nearly $6,000 a tonne benefiting many copper producing economies and those involved in the copper trade.
World refined usage for the first 10 months of 2003 grew by 1.6% compared with that of the same period of 2002. On the supply side, refined copper production decreased by 1.3% in the January to October 2003 period compared with that of the equivalent period in 2002. While output based on the use of scrap fell by 9.2%, primary refined production remained stable. Mine production rose by 1.6% in the first 10 months of 2003 compared with that of the same period a year before.
In Latin America it has become increasingly difficult for multinational companies to be granted substantial mining rights because governments in the region are looking more towards nationalisation of resources in the hope of successfully dealing with social challenges such as, poverty alleviation, poor infrastructure and social development.
