Copper (Cu), with atomic number 29, is a reddish-orange metal known for its high thermal and electrical conductivity. Its malleability and ductility make it ideal for applications like electrical wiring and plumbing. Copper is also a key component in various alloys, including those used in jewelry, marine hardware, and temperature sensors.
1900: Copper Mining Boom
Since 1900, over 95% of all copper ever extracted from the Earth has been mined and smelted, highlighting a significant increase in copper demand and extraction.
1949: Development of Flash Smelting
Developed by Outokumpu in Finland, flash smelting, an energy-efficient copper extraction process, was first implemented in 1949 at Harjavalta.
1950: Growth of Copper Reserves
Since 1950, in-ground copper reserves have increased substantially, from around 100 million tonnes to 720 million tonnes in 2017, according to the United States Geological Survey.
1965: Change in US Coin Composition
Prior to 1965, US five-cent coins were made of an alloy of 90% silver and 10% copper. In 1965, the composition changed to 75% copper and 25% nickel due to the removal of circulating silver from most US coins.
1967: Formation of CIPEC
The Intergovernmental Council of Copper Exporting Countries (CIPEC) was established in 1967 by Chile, Peru, Zaire, and Zambia to control the copper market.
1970: Debasement of US Half Dollar
Between 1965 and 1970, the US half-dollar coin's silver content was reduced from 90% to 40%, with copper making up the remaining 60%.
1982: Use of Pennies as a Copper Investment
Prior to 1982, American pennies were made primarily of copper, making them a potential store of copper value for investors seeking to avoid premiums associated with copper bullion.
1988: Dissolution of CIPEC
CIPEC dissolved in 1988, having never achieved the same level of influence as OPEC in the oil market, partly due to the non-participation of the United States, a major copper producer.
1992: Closure of the Great Copper Mountain
The Great Copper Mountain mine in Falun, Sweden, a significant source of copper for Europe for centuries, ceased operations in 1992.
2000: End of the Bronze Age
The Bronze Age concluded around 2000-1000 BC in the Near East and around 600 BC in Northern Europe, marking the transition to the Iron Age.
2000: Early Use of Bronze
Around 2000 BC, approximately 2,000 years after the widespread use of natural bronze, the intentional alloying of copper with tin to create bronze began.
2001: Copper Recycling from Automobiles
By 2001, recycling became a significant source of copper, with a typical automobile containing 20-30 kg of recyclable copper. The process often starts with melting using a blast furnace.
2001: Dietary Reference Intakes for Copper Updated
In 2001, the U.S. Institute of Medicine (IOM) revised the estimated average requirements (EARs) and recommended dietary allowances (RDAs) for copper. In cases lacking sufficient information to determine EARs and RDAs, an Adequate Intake (AI) estimate was used instead.
2005: Global Copper Production
In 2005, Chile led the world in copper production, responsible for over a third of the global output. The United States, Indonesia, and Peru followed as major producers.
2011: Installation of Copper-Zinc Alloy Handrails in Santiago Metro
In 2011, the Santiago Metro in Chile began installing copper-zinc alloy handrails in approximately 30 stations to reduce the spread of disease.
2014: Completion of Copper-Zinc Alloy Handrail Installation in Santiago Metro
By 2014, the installation of copper-zinc alloy handrails across 30 stations in the Santiago Metro, initiated in 2011, was completed.
May 27, 2016: Revision of Daily Value for Copper on Food Labels
On May 27, 2016, the Daily Value (DV) for copper used on U.S. food and dietary supplement labels was changed from 2.0 mg to 0.9 mg to align with the Recommended Dietary Allowance (RDA).
2017: Estimated Copper Resources
By 2017, estimated global copper resources surpassed 5,000 million tonnes, indicating a significant supply despite growing demand.
2019: Environmental Cost of Copper Mining
A 2019 study estimated the environmental cost of copper mining to be 3.7 kg of CO2 equivalent per kilogram of copper produced.
2020: Codelco's Carbon Footprint
In 2020, Codelco, a major copper producer in Chile, reported emissions of 2.8 tons of CO2 equivalent per ton of fine copper produced, largely attributed to electricity consumption and mining operations.
2022: Copper Price Volatility
The price of copper experienced high volatility, with an unexpected drop following a peak in 2022.
2023: Global Copper Production and Demand
In 2023, the global copper production is projected to reach nearly 23 million metric tons, driven by the increasing demand for copper in the energy sector, particularly for electricity transmission. Notably, China constitutes more than half of this global demand.