Copper & Nickel Mining
Brief Excerpt from Industry Overview Chapter:
Companies in this industry develop mine sites, mine and quarry copper and nickel, and prepare copper and nickel for sale. Major companies include Freeport-McMoRan (based in the US), Codelco (Chile), Grupo México (Mexico), Jiangxi Copper (China), Glencore (UK), and BHP Billiton (UK/Australia).
Demand is driven by industrial production and economic growth. Individual company profitability depends on operating efficiency. Large companies have more resources to devote to discovering and developing new deposits. Small companies typically own just one mine, limit exploration to that one property, and aim to operate it as efficiently as possible.
PRODUCTS, OPERATIONS & TECHNOLOGY
Copper and nickel are often used for construction and industrial purposes, to produce various kinds of equipment and vehicles. About 45% of US copper is used in building construction. About 50% of US nickel is used for stainless steel products and 40% in alloys, according to the United States Geological Survey (USGS). Both copper and nickel are also used for coins.
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