https://www.nmnwiki.com/index.php?action=history&feed=atom&title=Miners_Smelters_Still_Divided_On_Copper_Processing_Charges 2026-04-21T22:08:24Z Revision history for this page on the wiki MediaWiki 1.34.1 https://www.nmnwiki.com/index.php?title=Miners_Smelters_Still_Divided_On_Copper_Processing_Charges&diff=37514&oldid=prev 2021-01-01T15:15:25Z

<p>Created page with &quot;&lt;br&gt;By Tom Daly and Zandi Shabalala&lt;br&gt; &lt;br&gt;Nov 26 (Reuters) - Copper miners and smelters are late agreeing charges for processing concentrate for next year, three sources wit...&quot;</p> <p><b>New page</b></p><div>&lt;br&gt;By Tom Daly and Zandi Shabalala&lt;br&gt; &lt;br&gt;Nov 26 (Reuters) - Copper miners and smelters are late agreeing charges for processing concentrate for next year, three sources with knowledge of the talks said, with smelters seeking a rollover while miners are pointing to a tight spot market.&lt;br&gt; &lt;br&gt;Miners pay smelters treatment and refining charges (TC/RCs) to process copper concentrate into refined metal.&lt;br&gt; &lt;br&gt;The first settlement between a major copper miner and a Chinese smelter in the annual mating season is usually during negotiations in November and serves as the benchmark for the year ahead.&lt;br&gt; &lt;br&gt;For 2020, it was set at $62 a tonne and 6.2 cents per lb by China's Jiangxi Copper and Freeport-McMoRan Inc , whose Indonesian unit operates Grasberg, the world's second largest copper mine.&lt;br&gt; &lt;br&gt;However, spot TCs &amp;lt;AM-CN-CUCONC&amp;gt;, which fall when the concentrate market tightens, are now at an eight-year low of $50.50 a tonne.&lt;br&gt; &lt;br&gt;&quot;Smelters are aiming for a settlement in the low $60s and miners are proposing ... mid $50s,&quot; said one source involved in the discussions, declining to be [http://www.travelwitheaseblog.com/?s=identified identified].&lt;br&gt; &lt;br&gt;A second source, working for a miner and also declining to be named, said the two sides were more than $10 apart on charges.&lt;br&gt; &lt;br&gt;Chile's Antofagasta and Freeport are typically the first to agree charges.&lt;br&gt; &lt;br&gt;However, [https://www.kynghidongduong.vn/blog/du-lich-bali-tuyet-voi-nhu-the-nao.html kynghidongduong.vn] a third source involved in the talks said the problem for Freeport is that Grasberg's concentrate will risk exceeding the maximum permitted fluorine content of 1,000 parts per million, or 0.1%, [https://www.kynghidongduong.vn/blog/du-lich-bali-tuyet-voi-nhu-the-nao.html đi du lịch ba li] in top copper consumer China.&lt;br&gt; &lt;br&gt;&quot;Grasberg will produce a lot more but the concentrates come with high fluorine,&quot; said the source, adding that the chemical impurity essentially limits destinations for Grasberg's concentrate.&lt;br&gt;&lt;br&gt;&quot;That puts them in a weaker negotiating position.&quot;&lt;br&gt; &lt;br&gt;Freeport did not respond to a request for comment.&lt;br&gt; &lt;br&gt;&quot;It is a big challenge for Freeport. (It's) hanging over the negotiations,&quot; said CRU analyst Hamish Sampson.&lt;br&gt; &lt;br&gt;Grasberg is moving from open pit to underground mining.&lt;br&gt;Freeport Indonesia Chief Executive Tony Wenas said in June it would produce 160,000 tonnes of ore per day in 2021.&lt;br&gt; &lt;br&gt;(Reporting by Tom Daly and Zandi Shabalala; additional reporting by Shivani Singh; editing by Pratima Desai and Marguerita Choy)&lt;br&gt;</div>

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