Copper & Nickel Mining Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/27/2021
SIC Codes: 1021
NAICS Codes: 212230
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Copper & Nickel Mining Industry Profile

Companies in this industry develop mine sites, mine and quarry copper and nickel, and prepare copper and nickel for sale. Major companies include Freeport-McMoRan (based in the US), Codelco (Chile), Grupo México (Mexico), Jiangxi Copper (China), Glencore (UK), and BHP Group (UK/Australia).

Worldwide, copper production totals about 20 million metric tons in 2019, including about 1.3 million from the US. Global nickel production totals about 2.7 million metric tons; US production is minor. Copper ore production is concentrated in Chile, Peru, China, Democratic Republic of Congo, and the US. The largest nickel ore producers are Indonesia, the Philippines, Russia, and New Caledonia.

The US copper and nickel mining industry includes about 60 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $12.5 billion.


Demand is driven by industrial production and economic growth. Individual company profitability depends on operating efficiency. Large companies have more resources to devote to discovering and developing new deposits. Small companies typically own just one mine, limit exploration to that one property, and aim to operate it as efficiently as possible.

The US is a net exporter of copper and nickel ore. Exports, mainly to Mexico, China, and Canada, account for about 25% of US production. Imports account for about 2% of the US market.


Copper and nickel are often used for construction and industrial purposes, to produce various kinds of equipment and vehicles. ...

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