US copper output remains steady in 2025

Core Insights - The US copper production is projected to remain stable at 1,077 kilotonnes in 2025, reflecting a year-on-year growth of 1.7% compared to 2024, primarily due to planned lower production from major operations like the Kennecott Copper Project and the Phoenix Mine [1] - The medium-term outlook for the US copper industry is positive, with several new projects expected to commence operations from 2026, including the Florence and Copperwood projects, which will add nearly 70 kilotonnes of new copper capacity annually [3] - The US copper output is forecasted to grow at a compound annual growth rate (CAGR) of 7.2% from 2025 to 2035, reaching 2,158 kilotonnes by 2035, supported by various projects aimed at enhancing supply resilience and meeting rising demand [5] Production Challenges - The Kennecott Copper Project is facing a temporary reduction in output due to a scheduled maintenance shutdown in Q3 2025, but production is expected to rebound in 2026 with the start of underground operations [1] - The Phoenix Mine is anticipated to experience lower production in 2025 due to the processing of lower-grade ores, although this decline will be partially offset by new and restarted operations like the Johnson Camp Restart Project [2] Future Developments - The Mineral Park Restart Project is advancing and is expected to begin trial production by the end of 2025, contributing significantly to copper supply in 2026, with an estimated annual production capacity of around 11.2 kilotonnes [3] - Large-scale projects such as Mesaba and Ann Mason are projected to significantly increase US copper output, positioning the country among the top five global copper producers by 2030 [4]