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Global copper output to grow over the next decade – report BHP’s Spence Growth Option project will have a new concentrator plant that will increase the Chilean mine’s production and extend its life by more than 50 years. (Image courtesy of BHP). A new report by Fitch Solutions forecasts global copper mine production to increase by an average annual rate of 3.7% over 2021-2029, with total output rising from 21.5mnt to 27.8mnt over the same period. Year-on-year, the market analyst sees production of the red metal expanding 6.9% as a result of multiple new projects coming online and low-base effects due to covid-19 lockdowns reducing output in 2020. ....