Copper Ore Mining in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: May 2024
ANZSIC B0803Revenue
$9.6bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
7,510
Businesses
31
Wages
$X.Xbn
Copper Ore Mining in Australia industry analysis
Copper ore mining revenue is expected to have increased at an annualised 3.5% over the five years through 2023-24, to $9.6 billion. This robust growth is due to higher copper prices, and strengthened demand growth from China for copper used in construction, communications and manufacturing. China's commitment to clean energy – particularly in the solar panels, electric vehicles (EVs), and batteries sectors – has significantly escalated the country's demand for copper. Highly advanced economies, like Japan, have also supported demand growth through raised domestic production volumes. Australia is one of the world's major copper mining countries, behind Chile, Peru, China, the Democratic Republic of Congo and the United States.
Trends and Insights
- China's investment in clean energy industries like solar power, EVs and batteries drives copper demand because of its high electrical conductivity. However, finite copper supply and potential overcapacity may constrain long-term clean-energy investment growth.
- The global slowdown in consumer and general products manufacturing has harmed demand for copper. The weakened demand, caused by challenging economic conditions, is mainly seen in the Eurozone and Asia.
- The geographic distribution of copper producers reflects the location of copper ore deposits and expected operational costs. Production costs depend on ore grade, how easily firms can mine the ore and the transport distance to smelting and refining facilities.
- Economies of scale are paramount, with significant upfront costs required to develop a new mine. Entry is difficult due to the major operational risks associated with identifying ore reserves and extracting ore.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated $9.6bn in 2024.
Trends and Insights
China's clean energy commitment boosts copper uptake
- China's focus on clean energy, particularly in solar and wind power, supports copper demand. China has significantly invested in clean energy industries as part of its Nationally Determined Contribution. Copper is a critical component for technologies in these industries because of its high electrical conductivity. This makes copper indispensable in China’s shift towards a low-carbon economy.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growing exploration expenditure will fuel expansion in copper ore output
- Australia's copper production is expected to increase through the end of 2028-29 as exploration expenditure swells.
Biggest companies in the Copper Ore Mining in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
BHP | 3,957.7 | |
Newcrest Mining | 1,094.5 | |
Glencore | 794.6 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Copper ore and concentrate and Electrowin copper. Copper ore and concentrate is the largest segment of the Copper Ore Mining in Australia.
Trends and Insights
Copper ore and concentrate accounts for most industry revenue
- Copper ore undergoes a beneficiation process to produce copper concentrate. Copper ore is crushed into a fine powder and then run through a flotation process to isolate copper grains from waste. This powder, mixed with chemicals, undergoes treatment to extract the copper. The extracted copper is then sent to a smelter for further processing.
- More insights available in the full report
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Competitors
- There are no industries to display.
Complementors
- Gold Ore Mining in Australia
- Mineral Exploration in Australia
- Mining Support Services in Australia
- Copper, Silver, Lead and Zinc Smelting and Refining in Australia
International industries
- Copper, Nickel, Lead & Zinc Mining in the US
- Copper, Nickel, Lead & Zinc Mining in Canada
- Copper Production in the UK
- Copper Ore Mining in China
Table of Contents
About this industry
Industry definition
Industry firms mine copper ore and carry out beneficiation processes. These basic processes convert the copper ore into copper concentrate, which downstream processors then smelt and refine into copper products and copper cathodes.
What's included in this industry?
Copper ore and concentrateElectrowin copperCompanies
BHPNewcrest MiningGlencorePurchase this report to view all 6 major companies in this industry.
Related Terms
SOLVENT EXTRACTIONELECTROWINNINGCOPPER CATHODEBENEFICIATIONLEACHINGIndustry Code
ANZSIC 0803 - Copper Ore Mining in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
China's investment in clean energy industries like solar power, EVs and batteries drives copper demand because of its high electrical conductivity. However, finite copper sup...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The global slowdown in consumer and general products manufacturing has harmed demand for copper. The weakened demand, caused by challenging economic conditions, is mainly see...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The geographic distribution of copper producers reflects the location of copper ore deposits and expected operational costs. Production costs depend on ore grade, how easily ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Economies of scale are paramount, with significant upfront costs required to develop a new mine. Entry is difficult due to the major operational risks associated with identif...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Larger copper producers have consolidated their market position through acquisitions. Major players are positioning themselves to benefit from global electrification trends.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of BHP's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Newcrest Mining's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Glencore's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for BHP, and factors influencing its performance in the industry
- Description and key data for Newcrest Mining, and factors influencing its performance in the industry
- Description and key data for Glencore, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Copper producers have benefited from rising global copper prices. Strong international demand has copper prices set to remain elevated over the next few years.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Rising global copper prices and favourable trading conditions have lifted profit margins. Margins have improved despite tight labour market conditions and rising input prices...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Copper Ore Mining industry in Australia in 2024?
The market size of the Copper Ore Mining industry in Australia is $9.6bn in 2024.
How many businesses are there in the Copper Ore Mining in Australia industry in 2024?
There are 31 businesses in the Copper Ore Mining industry in Australia, which has grown at a CAGR of 6.2 % between 2019 and 2024.
Has the Copper Ore Mining industry in Australia grown or declined over the past 5 years?
The market size of the Copper Ore Mining industry in Australia has been growing at a CAGR of 3.5 % between 2019 and 2024.
What is the forecast growth of the Copper Ore Mining industry in Australia over the next 5 years?
Over the next five years, the Copper Ore Mining industry in Australia is expected to grow.
What are the biggest companies in the Copper Ore Mining market in Australia?
The biggest companies operating in the Copper Ore Mining market in Australia are BHP, Newcrest Mining and Glencore
What does the Copper Ore Mining in Australia include?
Copper ore and concentrate and Electrowin copper are part of the Copper Ore Mining industry.
Which companies have the highest market share in the Copper Ore Mining in Australia?
The company holding the most market share in Australia is BHP.
How competitive is the Copper Ore Mining industry in Australia?
The level of competition is low and steady in the Copper Ore Mining industry in Australia.
