Feasibility study report of copper mining and deep processing project - the mainstay of industrial metals, seeking progress in stability under the first pattern
1. Analysis of copper industry chain
The copper industry chain can be roughly divided into copper mining and dressing, refined copper smelting, deep processing and terminal consumption.
Copper mining and dressing includes the exploration, mining and beneficiation of copper ore. Copper mining includes open-pit mining, underground mining, a combination of "open pit + underground" mining, and leaching mining. Beneficiation can be divided into flotation and wet processing, and more than 80% of the world's copper mines use copper flotation methods.
Refined copper smelting is divided into pyrometallurgy and hydrometallurgy. In pyrometallurgy, the average copper content of copper concentrate obtained by flotation is about 30%, which is then converted into matte copper with a copper content between 50% and 70%. After flash blowing or converter treatment, the copper content is 985%-99.5% blister copper. Subsequently, the blister copper is refined by fire to form anode copper, and direct current is introduced to dissolve the anode copper, and the copper content is precipitated at the cathode to be 99More than 99% electrolytic copper.
In terms of hydrometallurgy, hydro-copper is mainly extracted from low-grade oxide ores and sulfide ores through leaching, solvent extraction and electrolytic deposition processes, and the copper content of electrowinning copper is also 99More than 99%.
Deep processing of copper refers to the making of copper and copper alloys into a variety of copper materials, including copper tubes, copper rods, copper rods, copper wires, copper foils and other varieties. At present, with the prosperity of emerging technology industries, the application of copper has moved from traditional civil and industrial copper to high-tech copper, and more medium and high-end copper and copper alloy products have been expanded.
The end consumption of copper includes traditional industries such as electronic and electrical, household appliances, construction engineering and transportation industries, and new industries such as electronic information, high-end equipment, new energy industries and other fields.
Panorama of the copper industry chain
2.The supply side - the ore source end is constantly disturbed, and the supply of copper ore is difficult to say excessive
From a global perspective, copper ore resources are concentrated in Chile, Australia, Peru and other countries, and the top three countries in copper concentrate production in 2022 are Chile, the Democratic Republic of the Congo (DRC) and Peru. According to the U.S. Geological Survey, China accounted for 3% of the world's copper reserves and 9% of copper concentrate production in 2022. In 2023, the increase in global copper mines will mainly come from new and expanded mines in Chile, the Democratic Republic of the Congo (DRC), Peru and other places. However, due to the continuous disturbance events at the copper mine end, including conflicts of interest, environmental issues, and the aging and declining grade of some copper mines, the global copper mine production is less than expected, and such impacts are difficult to solve in the short term, and it is expected that the supply side of the copper industry will have a phased tight impact in 2024.
Global copper mine production in 2022
Global copper reserves in 2022
Mineral reserves have decreased, grade has declined, and some copper miners have lowered their production guidance. In July 2023, Chile's National Copper Company lowered its 2023 copper mine production guidance to between 1.31-1.35 million tonnes. The CEO expects copper mine production in 2023 to be 13150,000 tons, mainly because the company is facing problems such as aging copper ore resources and delays in new construction and expansion projects.
In October 2023, Anglo American lowered its 2023 copper production forecast of 84-930,000 tonnes to between 83-870,000 tonnes and subsequently sharply lowered its 2024 copper production guidance to 73-790,000 tonnes from 91-1 million tonnes. The downward revisions to the outlook and guidance are mainly due to the lower grade and hardness of Chilean copper mines, and reflect the strategic adjustments that Anglo American is making in the face of changing market conditions.
According to the World Bureau of Metal Statistics (WBMS), in November 2023, global refined copper production was 230860,000 tons, consumption of 240130,000 tons, ** shortage of 9260,000 tons. From January to November 2023, the global refined copper output was 2,504610,000 tons, with a consumption of 2,514910,000 tons, **shortage of 1030,000 tons. In November 2023, global copper mine production was 181670,000 tons. From January to November 2023, global copper mine production will be 2026240,000 tons.
On the whole, affected by strikes, environmental protection activities, natural disasters, ore grades and other factors, the production and transportation of many large copper mines in Peru, Chile, Indonesia and other places have been disrupted, and the global copper concentrate is unspeakably excessive.
3. Major domestic copper mining listed companies and their mineral conditions
China is the world's largest copper consumer and refined copper producer, and its own copper ore resources are relatively scarce, so it needs to import a large amount of copper ore from overseas every year. In 2023, China will import 3.51 million tons of refined copper and export 27920,000 tons. In recent years, China's refined copper output has maintained a high trend, reaching 1298 in 2023800,000 tons, an increase of 17 year-on-year40%, mainly due to the strong expectation of economic recovery since 2023 and the impact of higher refined copper processing fees.
Global refined copper production in 2022
China's refined copper production (10,000 tons).
China's refined copper import and export volume (tons).
4. Demand side - the old and new demand for copper will take over
Most of the downstream consumption structure of copper is closely related to the real estate industry. As one of the major industrial metals, copper is used directly or indirectly in many industries. According to the data of Huajing Industry Research Institute, the construction sector accounts for the highest proportion of 28% of the global refined copper consumption structure, followed by electricity and consumer goods, accounting for 27% and 22% respectively; In China's refined copper consumption structure, electricity accounts for 45%, household appliances account for 15%, transportation accounts for 11%, and construction accounts for only 9%.
The United States divides power engineering into construction copper demand, so the proportion of copper used in construction projects reaches 46%, while China does not merge power copper into construction copper, and the proportion of copper used in construction is only 9%.
Global refined copper downstream consumption structure (%)
Downstream consumption structure of refined copper in China (%)
As copper becomes more widely used in the field of new energy, countries continue to increase the protection and investment of copper resources, and copper will continue to play an important role in the development of energy transition and electrification. In December, Chilean Finance Minister Marcel said that in view of the increased demand for metals in the energy transition, it is planned to accelerate the increase in copper production in the next few years in order to make up for the possible shortage.
In the downstream of copper, the traditional consumption sector is expected to increase slightly overall, driven by the global economic recovery, while the consumption momentum of the new energy sector continues to be strong, and the consumption of copper in the fields of photovoltaics, wind power, and new energy vehicles maintains a high growth trend, and the demand for copper is expected to grow significantly.
Outline of the preparation of the feasibility study report of the project (new version on May 1, 2023).
Chapter 1 Introduction
1.1. Project Overview.
1.2. Overview of the project unit.
1.3. Basis for compilation.
1.4. Main conclusions and recommendations.
Chapter 2 Project Construction Background and Necessity
2.1. Project construction background.
2.2. Planning policy compliance.
2.3. Construction necessity.
Chapter 3 Project Needs Analysis and Output Scheme
3.1. Demand analysis.
3.2. Construction content and scale.
3.3. Project output plan.
Chapter 4 Project Site Selection and Element Guarantee
4.1. Project site selection.
4.2. Project construction conditions.
4.3. Factor guarantee analysis.
Chapter 5 Construction Plan
5.1. Engineering plan.
5.2. Construction management plan.
Chapter 6 Project Operation Plan
6.1. Selection of operating mode.
6.2. Operational organization plan.
6.3. Security scheme.
6.4. Performance management program.
Chapter VII Environmental Protection
7.1. Basis for execution.
7.2. Environmental impact analysis and environmental protection measures during the construction period.
7.3. Pollution prevention and treatment measures during the operation period.
7.4. Soil and water conservation measures.
7.5. Special environmental impact analysis.
7.6 Conclusion.
7.7 Recommendations.
Chapter 8 can be analyzed
8.1. Basis for compilation.
8.2. The principle of energy saving.
8.3. Types of energy consumption of the project.
8.4. Energy-saving measures.
Chapter 9 Project Investment Estimation and Fund Raising
9.1. Investment estimates.
9.2. Fundraising.
Chapter 10 Analysis of the impact of the project
10.1. Social impact analysis.
10.2. The attitude and participation of different interest groups towards the project.
11.3. Ecological environmental impact analysis.
11.4. Analysis of resource and energy utilization effects.
11.5. Carbon peak and carbon neutrality analysis.
Chapter 11 Project Risk Management and Control Plan
11.1. Risk identification and evaluation.
11.2. Risk degree analysis.
11.3. Risk management and control plan.
Chapter 12 Social Stability Risk Analysis
12.1. Risk and its evaluation.
12.2. Comprehensive assessment of risks.
12.3. Measures to prevent risks to social stability.
12.4. Work plan for maintaining social stability.
12.5 Conclusion.
Chapter 13 Conclusions and Recommendations
13.1. Main research conclusions.
13.2. Questions and Suggestions.