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Copper Miner Margins

Copper miners lead with C1 cash cost, the cash cost of a pound of copper after by-product credits, and only a few also publish an all-in sustaining cost (AISC). Both are shown where stated. The margin here is the C1 margin: the quarter-average copper price minus the median C1. C1 excludes sustaining capital, so a C1 margin runs wider than a full-cost margin. The label says which one you are reading, everywhere it appears.

Q2 2026 C1 margin: quarter-average price minus Q2 2026 C1 $4.02/lb 66.3% of the copper price
Median C1 $2.04/lb copper averaged $6.06/lb
Quarter on quarter −$0.09/lb +$1.61/lb year on year

C1 margin is a production-cost spread, not company net profit.

Q2 2026 · updated 30 Sep 2026 · 14 of 14 reported · C1 margin was last higher in Q1 2026

The copper cost curve

-4.00-2.000.002.004.006.008.00JINFF-$2.16HBM-$0.40SCCO$0.05ANFGF$1.36III$1.52TECK$1.64FCX$1.97LUNMF$2.11ATYM$2.36ERO$2.42KGHPF$2.50FQVLF$2.54CSCCF$2.82IVPAF$2.84
See the figures
median C1
Company C1 $/lb
JINFF -$2.16
HBM -$0.40
SCCO $0.05
ANFGF $1.36
III $1.52
TECK $1.64
FCX $1.97
LUNMF $2.11
ATYM $2.36
ERO $2.42
KGHPF $2.50
FQVLF $2.54
CSCCF $2.82
IVPAF $2.84
2026-Q2 C1 cash cost per company, as each company states it; negative bars are real by-product-credit effects. The gap between a bar and the copper-price line is that company's C1 margin.

The fixed cohort on one quarter, Q2 2026: every bar is the same period, so the order is a ranking by stated cost.

Company details

  1. China Gold International Resources Corp Ltd JINFF
    C1 $/lb
    -$2.16
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    China Gold International Resources Corp Ltd
  2. Hudbay Minerals Inc HBM
    C1 $/lb
    -$0.40
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Hudbay Minerals Inc
  3. Southern Copper Corp SCCO
    C1 $/lb
    $0.05
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Southern Copper Corp
  4. Antofagasta plc ANFGF
    C1 $/lb
    $1.36
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Antofagasta plc
  5. Imperial Metals Corp III
    C1 $/lb
    $1.52
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Imperial Metals Corp
  6. Teck Resources Ltd TECK
    C1 $/lb
    $1.64
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Teck Resources Ltd
  7. Freeport-McMoRan Inc FCX
    C1 $/lb
    $1.97
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Freeport-McMoRan Inc
  8. Lundin Mining Corp LUNMF
    C1 $/lb
    $2.11
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Lundin Mining Corp
  9. Atalaya Mining Copper SA ATYM
    C1 $/lb
    $2.36
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Atalaya Mining Copper SA
  10. Ero Copper Corp ERO
    C1 $/lb
    $2.42
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Ero Copper Corp
  11. KGHM Polska Miedz S.A. KGHPF
    C1 $/lb
    $2.50
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    KGHM Polska Miedz S.A.
  12. First Quantum Minerals Ltd FQVLF
    C1 $/lb
    $2.54
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    First Quantum Minerals Ltd
  13. Capstone Copper Corp CSCCF
    C1 $/lb
    $2.82
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Capstone Copper Corp
  14. Ivanhoe Mines Ltd IVPAF
    C1 $/lb
    $2.84
    Basis
    100% basis
    Period
    Q2 2026
    Source
    Company release
    Company page
    Ivanhoe Mines Ltd
-4.00-2.000.002.004.00ANFGF, Q2 2026$1.36ATYM, Q2 2026$2.36CSCCF, Q2 2026$2.82ERO, Q2 2026$2.42FCX, Q2 2026$1.97FQVLF, Q2 2026$2.54HBM, Q2 2026-$0.40III, Q2 2026$1.52IVPAF, Q2 2026$2.84JINFF, Q2 2026-$2.16KGHPF, Q2 2026$2.50LUNMF, Q2 2026$2.11SCCO, Q2 2026$0.05TECK, Q2 2026$1.64B, Q2 2025$1.80CGAU, Q2 2025$2.06TGB, Q2 2025$3.14
Each company's most recent reported quarter. Periods can differ, so these bars are not ranks: they run by period, newest first, then by company, and no price or median line is drawn across them.

Company details

  1. Antofagasta plc ANFGF
    C1 $/lb
    $1.36
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Antofagasta plc
  2. Atalaya Mining Copper SA ATYM
    C1 $/lb
    $2.36
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Atalaya Mining Copper SA
  3. Capstone Copper Corp CSCCF
    C1 $/lb
    $2.82
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Capstone Copper Corp
  4. Ero Copper Corp ERO
    C1 $/lb
    $2.42
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Ero Copper Corp
  5. Freeport-McMoRan Inc FCX
    C1 $/lb
    $1.97
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Freeport-McMoRan Inc
  6. First Quantum Minerals Ltd FQVLF
    C1 $/lb
    $2.54
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    First Quantum Minerals Ltd
  7. Hudbay Minerals Inc HBM
    C1 $/lb
    -$0.40
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Hudbay Minerals Inc
  8. Imperial Metals Corp III
    C1 $/lb
    $1.52
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Imperial Metals Corp
  9. Ivanhoe Mines Ltd IVPAF
    C1 $/lb
    $2.84
    Basis
    100% basis
    Period
    Q2 2026
    Source
    Company release
    Company page
    Ivanhoe Mines Ltd
  10. China Gold International Resources Corp Ltd JINFF
    C1 $/lb
    -$2.16
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    China Gold International Resources Corp Ltd
  11. KGHM Polska Miedz S.A. KGHPF
    C1 $/lb
    $2.50
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    KGHM Polska Miedz S.A.
  12. Lundin Mining Corp LUNMF
    C1 $/lb
    $2.11
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Lundin Mining Corp
  13. Southern Copper Corp SCCO
    C1 $/lb
    $0.05
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Southern Copper Corp
  14. Teck Resources Ltd TECK
    C1 $/lb
    $1.64
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2026
    Source
    Company release
    Company page
    Teck Resources Ltd
  15. Barrick Mining Corporation B
    C1 $/lb
    $1.80
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2025
    Source
    Company release
    Company page
    Barrick Mining Corporation
  16. Centerra Gold Inc CGAU
    C1 $/lb
    $2.06
    Basis
    100% basis
    Period
    Q2 2025
    Source
    Company release
    Company page
    Centerra Gold Inc
  17. Trekor Metals Ltd TGB
    C1 $/lb
    $3.14
    Basis
    C1 cash cost per pound, as the company states it
    Period
    Q2 2025
    Source
    Company release
    Company page
    Trekor Metals Ltd

The cohort over time

1Y3Y5YMax
0.002.004.006.008.00Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021Q3 2021Q4 2021Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
See the figures
Cohort medians by quarter, US$ per pound
Quarter Price avg Median C1 cash cost Median C1 margin C1 margin % Reported
Q3 2019 $2.63 $1.45 $1.18 44.9% 4
Q4 2019 $2.68 $1.50 $1.18 43.8% 4
Q1 2020 $2.56 $1.27 $1.29 50.4% 5
Q2 2020 $2.43 $1.35 $1.08 44.4% 5
Q3 2020 $2.96 $0.99 $1.97 66.7% 4
Q4 2020 $3.26 $1.27 $1.98 60.9% 4
Q1 2021 $3.85 $1.38 $2.47 64.2% 3
Q2 2021 $4.40 $1.10 $3.30 74.9% 6
Q3 2021 $4.26 $1.09 $3.17 74.4% 4
Q4 2021 $4.40 $1.12 $3.28 74.4% 4
Q1 2022 $4.53 $1.32 $3.21 70.9% 2
Q2 2022 $4.32 $1.32 $3.00 69.3% 6
Q3 2022 $3.52 $1.52 $2.00 56.7% 6
Q4 2022 $3.64 $1.76 $1.88 51.6% 5
Q1 2023 $4.06 $1.76 $2.30 56.6% 5
Q2 2023 $3.84 $1.92 $1.92 50.0% 7
Q3 2023 $3.80 $1.77 $2.02 53.3% 6
Q4 2023 $3.71 $1.39 $2.33 62.7% 4
Q1 2024 $3.83 $1.90 $1.93 50.3% 6
Q2 2024 $4.42 $2.16 $2.26 51.1% 7
Q3 2024 $4.17 $1.63 $2.54 60.9% 5
Q4 2024 $4.16 $1.85 $2.31 55.5% 7
Q1 2025 $4.24 $2.05 $2.19 51.5% 6
Q2 2025 $4.32 $1.91 $2.41 55.8% 8
Q3 2025 $4.45 $1.78 $2.67 60.0% 14
Q4 2025 $5.04 $2.00 $3.04 60.2% 14
Q1 2026 $5.82 $1.71 $4.11 70.5% 14
Q2 2026 $6.06 $2.04 $4.02 66.3% 14
28 quarters, Q3 2019 to Q2 2026. Latest median C1 cash cost $2.04/lb against a $6.06/lb average copper price, a median C1 margin of $4.02/lb.

The companies

Next report
China Gold International Resources Corp Ltd JINFF [1] -$2.16 $8.22 135.6% 18,641 tonnes Next report: around 29 December 2026, estimated from the company's past reporting pattern.
Hudbay Minerals Inc HBM [2] -$0.40 $1.80 $6.46 106.6% 28,267 tonnes Next report: around 12 November 2026, estimated from the company's past reporting pattern.
Southern Copper Corp SCCO [3] $0.05 $6.01 99.2% 230,662 tonnes Next report: around 28 October 2026, estimated from the company's past reporting pattern.
Antofagasta plc ANFGF [4] $1.36 $4.70 77.6% 142 Kt Next report: around 4 February 2027, estimated from the company's past reporting pattern.
Imperial Metals Corp III [5] $1.52 $4.54 74.9% 8,766 000's pounds Next report: around 3 November 2026, estimated from the company's past reporting pattern.
Teck Resources Ltd TECK [6] $1.64 $4.42 72.9% 135,900 tonnes Next report: around 20 October 2026, estimated from the company's past reporting pattern.
Freeport-McMoRan Inc FCX [7] $1.97 $4.09 67.5% 786 million pounds Next report: around 21 January 2027, estimated from the company's past reporting pattern.
Lundin Mining Corp LUNMF [8] $2.11 $3.95 65.2% 76,877 tonnes Last reported: 16 July 2026 (Q2 2026); the next date is not yet announced.
Atalaya Mining Copper SA ATYM [9] $2.36 $2.79 $3.70 61.1% 13,493 tonnes Next report: around 12 November 2026, estimated from the company's past reporting pattern.
Ero Copper Corp ERO [10] $2.42 $3.64 60.1% 17,315 tonnes Next report: around 3 November 2026, estimated from the company's past reporting pattern.
KGHM Polska Miedz S.A. KGHPF [11] $2.50 $3.56 58.8% 175.1 kt Next report: around 17 February 2027, estimated from the company's past reporting pattern.
First Quantum Minerals Ltd FQVLF [12] $2.54 $4.27 $3.52 58.1% 100,487 tonnes Next report: around 27 October 2026, estimated from the company's past reporting pattern.
Capstone Copper Corp CSCCF [13] $2.82 $3.24 53.5% 51,759 tonnes Next report date: not yet announced.
Ivanhoe Mines Ltd IVPAF 100% basis [14] $2.84 $3.22 53.1% 64,328 tonnes Next report: around 28 October 2026, estimated from the company's past reporting pattern.

A negative C1 means by-product credits exceeded cash costs in the quarter, which is common at polymetallic mines; it is the company’s own stated figure.

Outside the curve, and why

Companies in the coverage universe for this metal that the cost curve does not draw, each with the reason the measurement register gives. Explorers, developers and royalty companies are not producers and are not listed here.

  • Amerigo Resources Ltd ARREF Excluded from the median: Excluded from the cohort (reason below)

    COHORT-EXCLUDED (measure ground, the CDE/PRU rule): a tailings-processing tolling cash cost is not a mine C1. 'Cash cost' per lb (non-GAAP: smelter treatment charges (TC/RC) + tolling/production costs + admin, net of moly credits), Q2-2026 $1.74/lb ($1.60 normalized); Q1 $1.82/lb. DIFFERENT ANIMAL: MVC is a TAILINGS PROCESSOR under a Codelco tolling arrangement, processing cash cost, not a mine C1; no AISC. Comparability call deferred to seeding (likely coverage-table-only)

  • Grupo Mexico SAB de CV GMBXF Excluded from the median: Excluded from the cohort (reason below)

    Quarterly USD/lb cadence verified at the SCCO level (GMBXF owns ~88.9% of SCCO via Americas Mining), COHORT-EXCLUDED: the same mines would enter the median twice beside SCCO; SCCO is the operating-level reporter. Parent-level (BMV) document unreachable at sweep (gmexico.com WAF 403, BMV bot-gated), parent basis wording unverified, coverage-table reason honest about it

  • Anglo American plc NGLOY No comparable quarterly USD figure: Half-yearly figures only

    'C1 unit costs' USc/lb incl. by-product credits and TC/RCs, weighted-average Copper Total, at HY/FY only (H1 2026: 136 c/lb total; Chile 206 / Peru 45); quarterly production reports carry guidance only; no AISC. WATCH: pending Anglo-Teck combination may change disclosure conventions

  • Aurubis AG AIAGY No comparable quarterly USD figure: No unit cost stated

    Smelter/refiner: reported economics are TC/RCs, cathode premia, sulfuric acid prices, refined output, processing-margin economics, no C1/AISC-style mine unit cost anywhere

  • BHP Group Ltd BHP No comparable quarterly USD figure: Half-yearly figures only

    Per-asset 'Cost per pound (US$)' (Escondida/Spence/Copper SA; net of by-product credits, freight, royalties) stated at HY/FY results ONLY, quarterly ops reviews carry guidance, zero actuals (verified against the 9M FY26 review); not labeled C1/AISC; no consolidated copper figure. Jun-30 fiscal year

  • Boliden AB BDNNY No comparable quarterly USD figure: Per-mine figures only

    Per-mine C1 in USc/lb on a ROLLING-12-MONTH basis only ('Cash Cost (Normal C1), USc/lb copper, R12' Aitik; 'Pro rata C1' Kevitsa/Somincor), appendix tables, disclosure new from ~2025-Q3; NO consolidated or copper-segment C1; NO AISC (0 hits both reports); no discrete single-quarter figure

  • Glencore plc GLNCY No comparable quarterly USD figure: Half-yearly figures only

    'Copper net unit cash costs (c/lb)' after by-product credits, stated in H1/FY production reports only (H1 2026: 208.4 group / 183.9 operating assets); the Q1 production report contains zero unit-cost content (verified page-by-page); no AISC

  • Jiangxi Copper Co Ltd JIAXF No comparable quarterly USD figure: No unit cost stated

    No unit-cost metric of any kind: CSRC-format quarterly reports are financial statements only; 2025 Annual Report's sole cost remark is qualitative ('unit cash cost is below the industry average', Dexing), no figure, no C1, no AISC, any currency or cadence

  • Mitsubishi Materials Corp MIMTF No comparable quarterly USD figure: No unit cost stated

    No unit-cost disclosure, smelting and materials company; cents/lb appears only as LME price assumptions/sensitivities; mine interests (Escondida, Los Pelambres, Mantoverde) shown only as equity-method earnings in yen. Mar-31 fiscal year

  • MMG Ltd MMLTF No comparable quarterly USD figure: Per-mine figures only

    Per-mine C1 USD/lb only (Las Bambas / Kinsevere / Khoemacau; Las Bambas pre-employee-profit-sharing); Q1 report gives discrete Q1 actuals but the Q2 report reverts to H1-cumulative, no discrete Q2; NO consolidated C1; NO AISC in either report

  • Rio Tinto plc RIO No comparable quarterly USD figure: Half-yearly figures only

    'Copper C1 net unit costs' in USc/lb at HY/FY only (H1 2026: NEGATIVE -24.7 USc/lb net of by-product credits incl. Oyu Tolgoi gold); quarterly production releases carry C1 guidance only (verified on the Q2 release); no AISC

  • Sandfire Resources Ltd SFRRF No comparable quarterly USD figure: Per-mine figures only

    Quarterly USD/lb C1 stated PER OPERATION only (MATSA net C1 $0.47/lb, Motheo $0.70/lb, Q4 FY26; gross/net/implied variants), no group/consolidated C1, no AISC in the quarterly report

  • Sumitomo Metal Mining Co Ltd SMMYY No comparable quarterly USD figure: No unit cost stated

    No C1/AISC/cash-cost/unit-cost disclosure of any kind, quarterly tanshin has only metal price assumptions + segment P&L; copper interests (Morenci, Cerro Verde, QB) are equity-method with qualitative commentary. Full-text sweep of two most recent releases, zero hits. Mar-31 fiscal year

  • Vale SA VALE No comparable quarterly USD figure: Per-tonne costs only

    Quarterly USD copper unit COGS and 'Copper all-in costs' NET-NEGATIVE per TONNE (2Q26 US$-257/t; 1Q26 US$-642/t), USD and quarterly but per tonne, zero per-pound usage in either quarterly release; guidance also per tonne

  • Zijin Mining Group Co Ltd ZIJMY No comparable quarterly USD figure: Figure in another currency

    Quarterly 'unit cost of sales' for mine-produced copper in RMB/t (Q1 2026: concentrate 23,780; electrodeposited 34,652; electrolytic 39,612; Q4-2025 comparatives in-table), a GROSS sales-cost metric, not a by-product-credited C1 ('by-products were priced separately and did not offset or reduce production costs'); no USD/lb C1 or AISC anywhere. NOTE: its GOLD segment is separately classified via 2259 (Zijin Gold Intl spin-out)

How this page is made
Sources and methodology
Methodology

Copper costs are quoted per pound. C1 cash cost, cash costs net of by-product credits, is the industry’s headline measure and the basis of the copper median; all-in sustaining cost (AISC) appears for the few companies that state one. The copper reference price is the World Bank quarterly average, published per metric tonne and converted to pounds at the fixed identity 2,204.62262 lb per tonne: unit arithmetic, not an estimate. A negative C1 is the company’s own stated figure: by-product revenue exceeded cash costs.

The copper cohort: Southern Copper Corp (SCCO) , Freeport-McMoRan Inc (FCX) , Teck Resources Ltd (TECK) , Hudbay Minerals Inc (HBM) , Ero Copper Corp (ERO) , Capstone Copper Corp (CSCCF) , Lundin Mining Corp (LUNMF) , Antofagasta plc (ANFGF) , First Quantum Minerals Ltd (FQVLF) , KGHM Polska Miedz S.A. (KGHPF) , Atalaya Mining Copper SA (ATYM) , China Gold International Resources Corp Ltd (JINFF) , Imperial Metals Corp (III) , Ivanhoe Mines Ltd (IVPAF) .

Gold and silver figures are per troy ounce; copper figures are per pound. No chart or sortable column ever mixes the two.

A published figure changes only when the company itself restates it, and the change is dated here. Every figure links the release or filing it came from.

SilverTrade is a bullion trading platform. This page is market data and journalism, not investment advice, and SilverTrade does not issue price targets on any security.

Copper sources (14)
  1. China Gold International Resources Corp Ltd (JINFF), Q2 2026: Interim Report 2026 (HKEX, 13 Aug 2026), Jiama table, DISCRETE 'Three months ended June 30, 2026' column: after-credits '(2.16)'; plain US$2.19/lb; produced 18,641 t (41,096,647 lb). H1: plain 2.48, after-credits (1.75).
  2. Hudbay Minerals Inc (HBM), Q2 2026: Q2 2026 MD&A (6-K ex-99.2 filed 29 Jul 2026): cash cost $(0.40)/lb, AISC $1.80/lb (table + prose); production 28,267 t. FY26 cash-cost guidance improved to $(0.45)-$(0.25)/lb.
  3. Southern Copper Corp (SCCO), Q2 2026: 2Q26 earnings release (8-K ex-99.1 filed 22 Jul 2026, dated Jul 21): '$0.05 in 2Q26'; production 'stand at 230,662 tonnes' (prose).
  4. Antofagasta plc (ANFGF), Q2 2026: Q2 2026 Production Report, 15 Jul 2026, group table (Q2 column): Net cash costs $1.36/lb; before credits $2.94/lb (incl. one-off Centinela labour settlement); production 142.0 Kt.
  5. Imperial Metals Corp (III), Q2 2026: MD&A three/six months ended 30 Jun 2026 (posted 6 Aug 2026), p.14 cash-cost table, Composite: $1.52/lb; produced 8,766 (000's pounds).
  6. Teck Resources Ltd (TECK), Q2 2026: Q2 2026 news release (6-K ex-99.1 filed 24 Jul 2026): 'reduced copper net cash unit costs to US$1.64 per pound in Q2 2026 compared to US$2.02... last year'; total-copper reconciliation table confirms; production 135,900 t. QB-only $1.83.
  7. Freeport-McMoRan Inc (FCX), Q2 2026: 2Q26 press release (8-K ex-99.1 filed 23 Jul 2026): $1.97/lb (net of by-product credits, excluding idle facility and restoration costs during the phased GBC ramp-up); production 786 million lbs.
  8. Lundin Mining Corp (LUNMF), Q2 2026: Q2 2026 results release, 5 Aug 2026: 76,877 t at 'consolidated cash cost of $2.11 /lb'.
  9. Atalaya Mining Copper SA (ATYM), Q2 2026: 'Q2 and H1 2026 Financial Results' RNS, 11 Aug 2026: DISCRETE Q2, Cash Costs US$2.36/lb payable, AISC US$2.79/lb payable, production 13,493 t (H1 23,432 t).
  10. Ero Copper Corp (ERO), Q2 2026: Q2 2026 results release (6-K exhibit, acc. 0001628280-26-053508, filed 5 Aug 2026): '17,315 tonnes in concentrate at C1 cash costs of $2.42 per pound produced'.
  11. KGHM Polska Miedz S.A. (KGHPF), Q2 2026: IR release Q2 2026, 19 Aug 2026: C1 2.50 USD/lb (-4% y/y); payable copper production 175.1 kt.
  12. First Quantum Minerals Ltd (FQVLF), Q2 2026: Q2 2026 results release, 28 Jul 2026. Excl-CP: C1 $2.48; AISC $4.14. Production 100,487 t incl. 3,216 t Cobre Panama stockpile processing (restarted May 2026); Cayeli disposed 30 Apr 2026.
  13. Capstone Copper Corp (CSCCF), Q2 2026: 'Capstone Copper Reports Second Quarter 2026 Results', 30 Jul 2026: 51,759 t at C1 $2.82/lb, consolidated; the release's $1.97 is Mantoverde mine-level only.
  14. Ivanhoe Mines Ltd (IVPAF), Q2 2026: 2026 Q2 financial results release, 29 Jul 2026: C1 averaged $2.84/lb vs $2.58 in Q1; production '64,328 tonnes of contained copper in anode, blister and slag concentrate held for sale'; 100%-basis footnote echoed. H1 C1 $2.70 within $2.60-3.00 guidance.

Margin series sequence 23, as of 30 Sep 2026. Coverage register sequence 17, as of 12 Sep 2026.

  • Company-reported data Every figure is the company's own, cited to the release or filing it came from.
  • Fixed cohorts The companies in each median are set for the calendar year, so a median never moves because membership moved.
  • No estimated costs No cost or margin here is estimated by us; where a company states no figure, the page says so.