The copper refinery production in Canada has seen a decline from 2013 to 2023, decreasing from 322.2 thousand metric tons to 239.37 thousand metric tons, marking a downturn of approximately 25.7%. Over the past two years, the output decreased by an average of 3.81% annually. The compound annual growth rate (CAGR) over the last five years is -3.18%, indicating a steady decrease in production.
Looking ahead, from 2024 to 2028, the forecast anticipates continued decline at a CAGR of -3.71%, reaching 189.5 thousand metric tons by 2028, representing a total reduction of 17.21% over this five-year period.
Future trends to watch for include:
- Technological advancements in refining processes that could improve efficiencies and output.
- Global copper demand, particularly from the growing electronics and renewable energy sectors, which may influence production dynamics.
- Environmental regulations and policies impacting mining and refining operations.
- Market competition and potential new entrants or exits in the industry.
