Shailieva M.M., Nesterenko Yu.N. Retrospective Review and Prospects of World and Russian Production of Precious Metals and Copper

Marina  M.  Shailieva
Sergo Ordzhonikidze Russian State Geological Exploration University, Moscow, Russian Federation
Yulia  N.  Nesterenko
Sergo Ordzhonikidze Russian State Geological Exploration University, Moscow, Russian Federation

Abstract. The paper presents a retrospective analysis of copper smelting and precious metals mining in countries around the world, including Russia, fr om 1960 to 2023. The analysis of the immediate development prospects of these metallurgical industries is provided, including the latest data on the availability of economically accessible fossil reserves. It was established that over the past 60 years, copper smelting increased 6-fold, silver mining increased 3-fold, and gold mining doubled. Platinum mining increased by 30% compared to the year 1990. If in 1960 the United States (copper) and South Africa (gold) dominated the metal producer structure, by now China has become the undisputed leader. Mexico retained its first place in silver mining (China ranks second), and South Africa in platinum mining. Based on the current available reserves of minerals, the mining of which is economically justified, the current volumes of copper production can be maintained for the next four decades, gold and silver for 20 years, and platinum for about 400 years. Thus, in the coming decades, a gradually increasing deficit of precious metals (except for platinum group metals) is expected, which may lead to an uncontrolled increase in their prices. In the long term, a similar situation is expected with copper, wh ere the level of reserves, the mining of which is economically justified, is limited to 40 years, and the share of secondary copper smelting (from scrap) does not exceed 20% of the total volume of refined metal production. In general, in the next 40 years, no deficit is expected only for platinum group metals.
Key words: dynamics, mining, precious metals, international comparisons, copper, development prospects, production, resources, retrospective analysis, structure.
Citation. Shailieva M.M., Nesterenko Yu.N., 2025. Retrospective Review and Prospects of World and Russian Production of Precious Metals and Copper. Regionalnaya ekonomika. Yug Rossii [Regional Economy. South of Russia], vol. 13, no. 1, pp. 40-49. (in Russian). DOI: https://doi.org/10.15688/re.volsu.2025.1.4

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