Country Report
Global copper mine cost summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Wood Mackenzie's Q4-2024 Global Copper Mine Cost Summary assesses that the period of disinflation will continue in 2025, helping stabilize production and realization cost for copper miners. Key consumable prices can decrease further, along with power and fuel costs; however, labor costs will remain higher as the impact of the inflation period is absorbed. By-product credits will continue to be favorable due to higher precious metals prices, partially offset by lower molybdenum and cobalt prices. The record-low benchmark TC/RC for 2025 will further support producers, although TCRCs represent only a portion of miners' costs. The price and cost base divergence presents miners with an opportunity to expand growth capital spending, as the successive years of inflation in capital and operational costs for projects has increased the incentive pricing.
Table of contents
- Associated data and slide pack for the analysis can be found in the Downloads section of this report (above right).
Tables and charts
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What's included
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