The project is expected to begin production in the second half of 2022.
COPPER STOCKS DRIVER
The main driver is its Quebrada Blanca Phase 2 (QB2) project in northern Chile, one of the world’s largest copper sources. It's on track to more than double its output by 2023. Teck Resource expects to deliver industry-leading copper production growth in the coming years.
The company produced 287,300 metric tons of copper last year from four mines in Canada and South America. In addition, it has investments in oil sands mining projects.Ĭopper contributed 34% to Teck’s gross profit in 2021. It produces copper, zinc, and steelmaking coal. Teck Resources is a diversified mining company based in Canada. Freeport has set a framework to use as much as 50% of its excess cash flow for shareholder returns, including dividends and share repurchases. The mining company's growing copper production should support increasing cash returns to shareholders. The company has several other longer-term growth drivers, including expansions in Arizona and Chile. The project added 1.5 million pounds of annual copper production capacity and the ability to extract 1.6 million ounces of gold each year. The company produced 3.8 million pounds of copper in 2021.įreeport completed a ramp-up of underground mining activities at Grasberg at the end of 2021. Freeport also operates large-scale mines in Arizona and Peru. The crown jewel of Freeport's portfolio is the Grasberg mine in Indonesia, one of the world's largest single copper and gold sources. It also produces gold and molybdenum, an element used in high-strength steel alloys. Freeport-McMoRanįreeport-McMoRan is one of the world's largest publicly traded copper producers. It often pays out additional dividends from its excess cash and repurchases shares. BHP aims for a minimum dividend payout ratio of 50% of its cash flow. The company's growing copper production should support higher dividend payments. BHP has also secured several long-term exploration partnerships and early-stage growth opportunities to help meet the projected increase in copper demand in the coming years. The project will add 185,000 metric tons of production annually over the next decade and extend the mine’s life for 50 years. It's investing heavily to expand its copper production to meet growing demand.īHP completed an expansion of its Spence copper mine in the Chilean desert at the end of 2020. Its business produced 1.6 million tons of copper in 2021. It was also a large oil and natural gas producer but merged operations with Woodside Petroleum ( ASX:WPL) in 2022.īHP operates several copper mines in Chile and one in Australia. It mines copper, iron ore, nickel, metallurgical coal, and potash. BHP GroupīHP Group is a leading global natural resource producer based in Australia. Here's a closer look at these five leading copper company stocks. Data source: Company websites and Ycharts.
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