According to the BNAmericas website, the chairman of the board of directors of the Chilean National copper Company (Codelco), Maximo Pacheco, recently warned that the copper market has changed significantly. This year the Democratic Republic of Congo overtook Peru as the world's second-largest copper producer. Pacheco pointed out that "the first is Chile, the second is the Democratic Republic of Congo (DRC), which has surpassed Peru to become the world's second largest copper producer."
According to the U.S. Geological Survey, Congo's copper production will reach 2.6 million tons this year, up 11% from 2022. By contrast, Peru's production increased by just 4 per cent, while Chile's rose by 2 per cent. Ruben Arietta, director of Wood Mackenzie, also pointed out at a seminar in Peru in the middle of this year that Congo's copper production last year was close to Peru's, which will produce 2.44 million tonnes in 2022.
