RANKED: World’s top 10 biggest mines by ore throughput in 2022

The amount of tonnes of ore extracted from the earth in a day is vast at the world’s largest mines — owned and operated by the majors of the industry.

Using data compiled by Mining Intelligence, the latest top ten list ranks the world’s biggest mines measured by millions of tonnes (mt) of ore mined, or where no data is reported, milled during Q1-Q3 2022.

Notably, all the mines on Mining Intelligence’s top ten by throughput list are open-pit, with the exception of Grasberg in Indonesia, where operations at the world’s second largest copper mine moved underground in 2020.

#1 Cerro Verde

Commodity exposure: Copper, molybdenum, silver// Geology: Porphyry

Extrapolating last year’s data, Freeport-McMoRan’s majority-owned Cerro Verde mine in Peru would take the top spot in our rankings. The expanded copper operation continues to benefit from its large-scale, long-lived reserves and cost efficiencies, with a target milling rate of approximately 400,000 tonnes per day in 2022.

#2 Escondida

Commodity exposure: Copper, gold, silver// Geology: Porphyry, Supergene copper

The world’s largest copper mine, Escondida in Chile, ranks number two on the list with 97.4 mt of ore by throughput. Escondida is operated by the world’s biggest miner, BHP, who is attempting to avert a strike at a time of tight global supplies and high prices.

#3 Cobre Panama

Commodity exposure: Copper, gold, molybdenum, silver// Geology: Porphyry, Supergene copper

Third on the list is Cobre Panama, owned by First Quantum Minerals, with 75.5 mt of ore extracted. The Canadian miner could receive a renewed contract for its flagship copper mine in Panama this month, the country’s trade and industry ministry said, after a brief hold-off over royalty payment amounts.

#4 Collahuasi

Commodity exposure: Copper, gold, molybdenum, silver // Geology: Porphyry

Next up is Anglo American and Glencore’s Collahuasi joint venture in Chile, with 64.2 mt of ore by throughput. View 21 years of operations at Collahuasi compressed into 21 seconds here.

#5 Buenavista

Commodity exposure: Copper, molybdenum, silver, zinc //Geology: Porphyry, Supergene copper  

Southern Copper’s Buenavista mine in Mexico ranks the fifth highest with 55.7 mt of ore throughput. Southern Copper spent some $1 billion expanding its flagship copper-molybdenum-zinc-silver mine five years ago.

#6 Grasberg

Commodity exposure: Copper, gold, silver//Geology: porphyry, skarn

In sixth place is the Grasberg mine in Indonesia, a joint venture between Inalum and Freeport-McMoRan with 52.1 mt of ore. When operations moved underground two years ago, it nearly doubled copper and gold output in the process.

#7 Aktogay

Commodity exposure: Copper, gold, molybdenum, silver // Geology: Porphyry

Aktogay in Kazakhstan, owned by Kaz Minerals, ranks number seven with 48.3 mt of ore mined and milled.

#8 Fort Knox

Commodity exposure: Gold // Geology: Intrusion-related gold systems

Fort Knox mine in Alaska is in eighth place with 43.9 mt of ore. Kinross poured first gold from a new heap leach pad at Fort Knox last year.

#9 Sentinel

Commodity exposure: Cobalt, copper, nickel//Geology: sediment hosted copper

Sentinel mine in Zambia, owned by First Quantum Minerals, is ranked number nine with 41.5 mt of mined and milled ore.  

#10 Antamina

Commodity exposure: Copper, lead, molybdenum, silver, zinc // Geology: Skarn

Rounding out the top ten is Antamina, Peru’s second largest copper mine, at 40.1 mt. Jointly owned by BHP and Glencore, it is set to undergo an expansion that includes investments of $1.6 billion to extend the mine’s life, currently set to expire in 2028, to 2036.

More information is at Mining Intelligence.