Copper is a ductile industrial metal with very high thermal and electrical conductivity and a critical metal for the global energy transition. Its application areas cover a wide variety of disciplines, including the architecture, automotive, electrical, fittings, fuel gas, industrial, marine, machined products, and telecommunications fields. 

Global copper resources are rich and highly concentrated. According to U.S. Geological Survey (USGS) data, as of 2023, the world had proven copper reserves of 1 billion tons, which are mainly distributed in Chile, Australia, Peru, Russia, the DRC, and other countries. Five major resource countries control about 57% of the world’s copper resources. China has reserves of 41 million tons, representing merely 4% of the world’s total, but it is the world’s largest copper consumer, accounting for about half of the global consumption.