Why Copper is Key to Renewable Energy and Electric Vehicle Growth
As industries transition towards a greener future, global copper consumption is forecasted to soar by 70% by 2050. This rising demand is driven by the electric vehicle (EV) market, renewable energy systems, and emerging technologies like Artificial Intelligence (AI) infrastructure.
With copper prices nearing historic highs, mining companies are rapidly positioning themselves to meet future demands. These top companies are leveraging their reserves and expansion strategies to remain at the forefront of the industry.
The Top Copper Producers You Should Know
1. Freeport-McMoRan Inc. (FCX)
Freeport-McMoRan is among the world’s largest copper producers, with major holdings such as the Grasberg mine in Indonesia and other sites across North and South America. In 2024, the company produced 1.2 million metric tons of copper, with additional revenue from gold and silver extracted during mining operations.
Looking to the future, Freeport is investing in leaching technology that could significantly boost annual copper output by 2030. As of late 2025, Freeport boasts a $68.03 billion market capitalization. For investors, the company offers an annual dividend yield of 1.27%.
2. BHP Group Ltd. (BHP)
BHP owns the Escondida mine in Chile, the world’s largest copper mine, and produced approximately 1.5 million metric tons of copper in 2024. The diversified miner has $10–14 billion in projects targeting an additional 540,000 tons of annual production.
The company’s investments, including the Resolution Copper project in Arizona, are set to expand production further while reducing geographic risks through global diversification. With a $153.21 billion market cap and a forward dividend yield of 3.69%, BHP remains a top player.
3. Southern Copper Corp. (SCCO)
Southern Copper operates through low-cost sites in Peru and Mexico, allowing it to maintain industry-leading profit margins of 51%. In 2024, the company focused on capacity expansions, planning to surpass 500,000 tons by 2032.
With a $116.65 billion market cap, Southern Copper’s forward dividend yield stands at 2.53%. The company’s profitability makes it a strong pick, even during fluctuations in copper prices.
4. Rio Tinto PLC (RIO)
Rio Tinto is aggressively expanding its copper capacity through strategic projects. Its Oyu Tolgoi mine in Mongolia, expected to become one of the world’s top copper producers by 2030, exemplifies Rio Tinto’s focus.
As of 2025, Rio Tinto has a market cap of $123.59 billion and rewards shareholders with dividends and buybacks, equalling 40–60% of its earnings. The forward dividend yield is 4.93%, securing its reputation as a shareholder-friendly investment.
5. Teck Resources Ltd. (TECK)
Teck Resources has shifted its focus entirely to copper after selling coal assets. The company’s Quebrada Blanca Phase 2 facility aims to climb to 316,000 tons annually, and its North American strategy aligns with EV and renewable energy-focused supply chains.
Having completed its pivot, Teck’s market cap stands at $21.14 billion, and it offers a forward dividend yield of 0.82%. The company aims to expand output significantly by 2030 to capitalize on increasing demand for sustainable energy metals.
Why Investors Should Care
As the electrification of transportation and renewable energy infrastructure accelerate, the demand for copper will play a critical role in supporting these industries. Major players like Freeport-McMoRan, BHP, and Rio Tinto are investing billions in expansion projects to meet this need and profit from the ongoing transformation.
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