The creation of the ICSG was negotiated in 1989 in Geneva and was agreed to in a multilateral treaty known as the 'Agreement Establishing the Terms of Reference of the International Copper Study Group'.

The ICSG came into existence on 23 January 1992, with the secretariat headquarters located in Lisbon, Portugal, which also hosts the International Nickel Study Group and the International Lead and Zinc Study Group.

The Study Group has three main objectives: The ICSG maintains one the most exhaustive and complete statistical databases on copper and publishes monthly Bulletins containing highly detailed statistical data on copper mine, smelter and refinery production, copper usage, stocks, prices and trade.

The Group also publishes comprehensive information on operating and planned mines, smelters and refineries around the world as well as an annual Directory regarding the current status of copper semi-fabricator plants.

Meetings of the Group's member States' delegates and industry representatives are held on a twice yearly basis, usually in April and October.