Albany, NY -- (SBWIRE) -- 07/08/2014 -- Copper denoted by the symbol Cu is a ductile metal with very high electrical and thermal conductivity. Copper is soft and malleable in its pure form and is used to fabricate pipes and cables. Copper finds application in various building material, high speed data transmission, solar energy, storage of nuclear waste, superconductor and metal alloys. Copper compounds are also used as fungicides, wood preservatives and bacteriostatic substances.
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Most of the available copper is distributed over large areas, mixed with mineralized materials and rocks. Copper is mined or extracted as copper oxide ore and copper sulfides ore from large open pit mines in porphyry copper deposits. Percentage of copper in these minerals is known as “copper grade” and its value varies from 1 percent to 1.8 percent. These copper ores undergoes different stages and process to produce pure copper. After mining the ore is crushed to walnut sized pieces. Oxide ores are routed to leaching tanks, while Sulfide ores are moved to concentrating stage. The first commercial production of copper production line is copper concentrate which consists of equal parts of iron, copper and sulfide. During this process, molybdenum is obtained and is further processed to attain commercial form of molybdenum trioxide. Once copper has been concentrated, it can be turned into pure form using leaching and electro-winning or smelting and electrolytic refining. After smelting, copper concentrate is converted to metallic copper, which allows it to attain forms that can be further refined to get more than 99 percent pure copper anode and copper blisters. Copper anode is mainly used as a raw material in electrolytic refining process to produce electrolytic refined cathode with a purity of 99.99 percent.
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Copper mining market can be segmented on the basis of mining methods used into Open pit mining and Underground mining. Open pit mining is the predominant method used for copper mining due to its high production rates, flexible operation, low cost and relatively safe method. Copper mining market can be segmented on the basis of geography into North America, APAC, Europe and Rest of the world (RoW). China accounts for around 40 percent of global copper demand. Chile has approximately 20 percent of world copper reserves and accounted for around 11 percent of total world’s copper production in 2011. China is the second largest producer of copper and accounted for approximately 40 percent of worlds copper demand in 2012.
Copper’s high conductivity makes it possible to use energy more efficiently, as this helps in enhancing quality of product and less fuel consumption used to produce energy. Developed countries consume 10 to 20 kg of copper per person which is approximately 10 times more than developing countries. Copper mining market is driven by such extensive demand of copper in various fields.
Some of the players in Copper mining market include Advance SCT Limited, African Copper Plc, Amerigo Resources Ltd., Bougainville Copper Limited, Copper Development Corporation, Caribou King Resources Ltd., DOT Resources Ltd., Freeport-McMoRan Copper & Gold, KGL Resources, AQM Copper Inc., Aditya Birla Minerals Ltd., BHP Billiton Ltd., Codelco, Xstrata Plc, Rio Tinto Group, Chinalco Yunnan Copper Resources Limited, Global Hunter Corp., Revett Mining Company Inc., Glencore International AG, Southern Copper Corp. and Anhui Jingcheng Copper Co. Ltd. among others.
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