{
  "id": 18007044,
  "title": "JPMorgan sees US copper output more than doubling",
  "url": "https://urgent.news/2026/11/03/jpmorgan-sees-us-copper-output-more-than-doubling",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T16:33:00.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/jpmorgan-sees-us-copper-output-more-than-doubling/"
  },
  "original_language": "en",
  "account": "JPMorgan projects the United States could more than double its copper mining output through new projects and expansions, reversing a 30-year decline. The investment bank estimates the nation could add 1.3 million tonnes of copper production annually, ranking third in global supply growth behind Chile and Argentina. However, most of this additional capacity is unlikely to come online before 2030 due to high development costs, lengthy permitting processes, and limited domestic processing capacity.\n\nThe proposed Resolution Copper mine in Arizona, a joint venture between Rio Tinto and BHP, could produce roughly 18 million tonnes of copper over four decades, accounting for about half of the additional US copper capacity. But production is still dependent on permitting requirements and technical studies, with likely commencement after 2030.\n\nDevelopment costs for US copper projects are estimated at $28,000 per tonne of annual production capacity, significantly higher than the global average of $26,000, potentially hindering project economics. Nevertheless, Freeport-McMoRan, the largest US copper producer, has the potential for medium-term expansion, with over 250,000 tonnes of annual production growth from brownfield expansions at existing operations.\n\nRegulatory changes, such as the FAST-41 framework, could streamline permitting timelines for eligible mines, potentially expediting the expansion process. Additionally, advances in in-situ leaching technology and the restart of idled mines may contribute to increased production. However, US copper self-sufficiency would still require addressing a primary supply deficit of about 1 million tonnes and expanding smelting and refining capacity to process additional domestically mined concentrate.",
  "summary": "New mine developments and expansions could transform American supply, but high costs and permitting remain major hurdles.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}