Copper to lithium, iron ore to cobalt — US markets await

The global demand for raw materials is surging, driven by the energy transition, infrastructure development, and advanced manufacturing. The United States, as the world’s largest economy, relies heavily on imports of minerals and ores to feed its industrial base. Latin America and Africa are endowed with vast mineral wealth—from copper and lithium in Chile and Argentina to cobalt and manganese in the Democratic Republic of Congo and South Africa.

Yet, navigating the US market as a supplier or sourcing from these regions as a buyer presents significant challenges: complex tariffs, quality standards, logistics, and regulatory compliance. This is where Coppermont provides critical expertise, bridging the gap between supply and demand across these high-potential trade corridors.

For US buyers, securing a stable, compliant supply of raw materials is a strategic imperative. For Latin American and African producers, the US market offers premium pricing and long-term off-take opportunities. However, trade is not straightforward.

Tariff classifications under the Harmonized Tariff Schedule (HTS) vary widely—copper ores (HTS 2603) face 0% duty, while certain processed minerals may incur rates up to 3.7%. Understanding these nuances is essential to margin protection. Coppermont’s advisory services help both sides of the transaction—exporters and importers—navigate these complexities with confidence.

This pillar page provides a comprehensive overview of the Mining & Raw Materials vertical, covering key products, trade flows, regulatory requirements, and how Coppermont facilitates successful US-LATAM and US-Africa trade in this sector.

Exporting Mining & Raw Materials to the US

Latin America and Africa are among the world’s most important sources of metallic ores and concentrates. Key products exported to the US include copper ores and concentrates (primarily from Chile, Peru, and Mexico), iron ore (Brazil, South Africa), gold ores (Peru, Ghana), lithium carbonate (Chile, Argentina), cobalt ores (DRC), and manganese (South Africa, Gabon). In 2023, the United States imported over $2.3 billion worth of copper ores and concentrates, with Chile supplying roughly 60% of that volume (USITC Dataweb 2024).

Similarly, US imports of lithium compounds exceeded $1.8 billion, largely from Chile and Argentina, reflecting the battery metals boom (USGS Mineral Commodity Summaries 2024).

US buyers of these raw materials span several industries. Smelters and refineries—such as Freeport-McMoRan and Asarco—purchase copper concentrates for processing. Steel mills, including Nucor and Cleveland-Cliffs, import iron ore and metallurgical coal.

The battery and electric vehicle supply chain, led by companies like Tesla, Albemarle, and Livent, sources lithium, cobalt, and nickel. Additionally, the construction sector imports aggregates, gypsum, and dimension stone from countries like Mexico and Brazil. Each buyer type has distinct specifications, quality requirements, and delivery terms, which exporters must meet to secure contracts.

Exporting to the US requires adherence to strict documentation and standards. The US Customs and Border Protection (CBP) mandates accurate HTS classification, country of origin certification, and compliance with the Lacey Act for certain plant-based raw materials. For mineral products, the US Environmental Protection Agency (EPA) may impose requirements under the Clean Air Act or Resource Conservation and Recovery Act (RCRA) for processing residues.

Exporters must also be aware of the US Department of Commerce’s antidumping and countervailing duty investigations—for example, certain iron ore pellets from Brazil have faced duties in the past (ITA 2023). Coppermont helps exporters pre-clear these hurdles by conducting tariff classification reviews and compliance audits.

Importing Mining & Raw Materials from the US

While the US is a net importer of many raw materials, it also exports significant volumes of mining products to Latin America and Africa. Key US exports include scrap metal (ferrous and non-ferrous), coal (metallurgical and thermal), phosphate rock, and specialty chemicals used in mineral processing. In 2023, US exports of scrap iron and steel to Mexico alone exceeded $1.1 billion, feeding the Mexican steel industry (USITC Dataweb 2024).

Similarly, US metallurgical coal exports to Brazil and South Africa support steelmaking in those regions.

Latin American buyers—particularly in Mexico, Brazil, and Colombia—import US coal and coke for industrial use. African markets, such as South Africa and Nigeria, purchase US phosphate fertilizers and industrial minerals for agriculture and manufacturing. The demand for US scrap metal is driven by lower processing costs and environmental regulations that favor recycling over primary mining.

For US exporters, understanding destination country import regulations, including tariffs and product standards, is critical. For instance, Brazil imposes a 12% import duty on certain scrap metals, while Mexico applies a 15% tariff on coal imports under certain conditions (WTO Tariff Data 2024). Coppermont’s advisory ensures that US sellers are fully informed of these costs and can structure competitive offers.

Regulatory and Compliance Overview

The Mining & Raw Materials trade is heavily regulated at both federal and international levels. In the United States, the CBP enforces trade laws that require accurate valuation, classification, and origin marking. The US International Trade Commission (USITC) publishes the HTS, which must be used for all imports.

Key HTS chapters for this vertical include Chapter 26 (ores, slag, and ash) and Chapter 25 (salt, sulfur, earths and stone). Duty rates are generally low (0% to 3.7%) for unprocessed ores, but processed materials like refined metals or chemicals may face higher rates.

Environmental and safety regulations also apply. The US EPA regulates emissions from mineral processing facilities under the National Emission Standards for Hazardous Air Pollutants (NESHAP). The Occupational Safety and Health Administration (OSHA) sets standards for handling hazardous materials like lead and mercury.

For African and Latin American exporters, compliance with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas is increasingly important, especially for tin, tantalum, tungsten, and gold (3TG). US buyers often require certification of ethical sourcing to meet SEC disclosure rules under the Dodd-Frank Act.

Additionally, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposes sanctions on certain countries and entities. Exporters from sanctioned regions—such as parts of the Democratic Republic of Congo or Venezuela—face additional scrutiny. Coppermont assists clients in conducting sanctions screening and developing compliance programs to avoid penalties.

Countries and Trade Corridors

Several major trade corridors define the Mining & Raw Materials vertical:

Latin America to the US: Chile and Peru are the dominant suppliers of copper to the US, with Chile alone accounting for 35% of US copper ore imports. Brazil is the top source of iron ore, while Mexico supplies lead, zinc, and silver concentrates. Argentina and Chile are the leading sources of lithium, with Argentina’s production capacity expanding rapidly due to new brine projects.

These corridors are supported by established shipping routes and trade agreements—the US-Chile Free Trade Agreement eliminates tariffs on most mineral products, and the US-Mexico-Canada Agreement (USMCA) provides preferential access for Mexican minerals.

Africa to the US: South Africa is the largest African supplier of manganese and chrome ore to the US, with exports valued at over $500 million annually (USITC 2024). The Democratic Republic of Congo supplies cobalt, but trade volumes are smaller due to logistics and regulatory challenges. Ghana and Burkina Faso export gold ores, while Nigeria and Angola supply crude oil (often classified separately but part of the extractive sector).

The African Growth and Opportunity Act (AGOA) provides duty-free access for many mineral products from eligible sub-Saharan African countries, but compliance with AGOA rules of origin is required.

US to Latin America: US exports of scrap metal and coal to Mexico and Brazil are substantial, with Mexico being the top destination for US scrap. US metallurgical coal flows to Brazil and Colombia, where it is used in steel production. These corridors benefit from proximity and established transport infrastructure, including rail and port facilities.

US to Africa: US exports to Africa are smaller in volume but include specialty chemicals, phosphate fertilizers, and machinery for mining operations. South Africa and Nigeria are the primary markets.