The copper concentrates mine production in Canada has varied significantly over the past decade. From 2013 to 2015, production saw strong growth, peaking at 714.65 thousand metric tons in 2015. However, starting in 2016, production began a downward trend, with notable declines in 2017 and 2018. Between 2019 and 2023, production levels fluctuated, with slight increases and decreases, but overall, remained in a gradual decline.
As of 2023, copper concentrates mine production stood at approximately 540.91 thousand metric tons. For the last two years, there have been minimal year-on-year decreases of -0.99% and -0.98% respectively. The Compound Annual Growth Rate (CAGR) over the last five years has been nearly flat at -0.073%, indicating slight overall contraction.
Looking ahead, from 2024 to 2028, forecasts predict a continued modest decline in production, with a forecasted five-year CAGR of -0.84% and an overall decrease of -4.11% by 2028.
Future trends to watch for include potential changes in global demand for copper, technological advancements in mining, and shifts in commodity prices, which could all influence Canada's copper mine production. Additionally, environmental regulations and policies could play a significant role in shaping future outputs.
