The United States produces domestically just over half the refined copper it consumes each year. More than two-thirds of that is mined in Arizona, where the development of a massive new mine has been stalled for more than a decade. The remaining refined copper, just shy of 1 million metric tons annually, is imported.
While the White House framed the new tariffs as a way to counter China's dominance of the global market, the United States in fact imports most of its refined copper from the Americas.
Chile, Canada and Peru accounted for more than 90% of refined copper imports last year, according to the United States Geological Survey (USGS).
However, China is expanding its control over world copper mining through its major investments in mines in the Democratic Republic of the Congo (DRC).
The DRC is now the world's second-largest copper miner after overtaking Peru, due in large part to massive Chinese investment in the African country's mining sector.
Thomson Reuters
https://www.mining-technology.com/features/a-deep-dive-into-chinas-role-as-critical-mineral-monolith/
@Deephaven I suppose you prefer to allow china to take over the world trade of copper, too..
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krom ·
