ASIA COPPER WEEK 2017: Copper miners require $7,500/t price to incentivize new supply

Faced with rising costs and environmental pressure, copper mines need higher prices around or above $7,500 per tonne to justify new investments in production and to keep up with growing demand, executives from key mining companies said.

The three-month copper price was recently trading at $6,775 per tonne on the London Metal Exchange on Wednesday November 29. “Copper miners won’t be able to respond to current demand growth with a price where it is now – it is not sufficient,” Nelson Pizarro, chief executive officer of Chile’s state-owned miner Codelco, said at Metal Bulletin’s conference. Production costs are rising...

Published

Perrine Faye

November 29, 2017

12:30 GMT

Shanghai