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SUPPLY CHAIN

From rock to a
specified material.

Understand the transformations before comparing the tonnes.

VALUE-CHAIN EXPLORER

Start with the route.

A simplified learning model. Actual processes depend on mineralogy, facilities, permits and product requirements.

Start with the contained metal.

Ore tonnage alone does not describe copper supply. Grade expresses the copper fraction; recovery describes the portion captured by a chosen process. Mineralogy, sampling and operating conditions determine whether an assumed recovery is plausible.

Follow the complete chain
Ore1,000,000 t
Average grade0.60% Cu
Contained copper6,000 t Cu
Illustrative examples. Forms, units and specifications are different.

PROCESSING ROUTES

Two primary routes.
Many site-specific variations.

Neither diagram is a process design or technology recommendation.

SULPHIDE CONCENTRATE ROUTE

Mine → concentrate → smelt → refine

Ore preparation and concentration create an intermediate. Smelting and refining convert it into specified metal. Concentrate availability and refining capacity can move differently.

Test the commercial units
LEACH / SX-EW ROUTE

Leach → solution processing → cathode

A suitable leaching route can recover copper into solution before solvent extraction and electrowinning. Suitability and yields require ore-specific technical validation.

Test a recovery scenario
Sources: FCXUS, RIONUT, ICSGFACT. Sources checked 8 November 2026. Company statements and forecasts retain their original dates and conditions.

THE MASS-BALANCE BASIS

Make every denominator explicit.

QuantityWhat it meansWhat it does not establish
Ore tonnesTotal mined or processed rock on the stated basis.Contained copper without a representative grade.
Contained CuMaterial mass × copper fraction.Recovery, payable metal or specification compliance.
Recovered CuContained copper × process recovery.Final cathode yield, costs or a sales entitlement.
Payable CuThe contractual quantity used in a price formula.Gross contained metal or net profit.
Refined equivalentA simplified quantity after an entered final yield.Exchange-deliverable material or verified product quality.

Bring the copper question
into focus.

Open the Decision Lab