ASIA COPPER WEEK 2017: Codelco views 2018 TC/RCs below $85/8.5c acceptable

Annual treatment and refining charges (TC/RCs) below $85 per tonne/8.5 cents per lb for 2018 would be “acceptable” given the deficit seen in the second half of the year, according to Codelco commercial vice president Rodrigo Toro.

Codelco expects the deficit to continue growing in 2019 and 2020 due to rising smelting capacities, Toro said during Asia Copper Week in Shanghai, pointing to the uncertainties over production at the world’s largest copper mine, Escondida.
BHP’s Escondida mine witnessed an historically long labor strike in the first quarter of this year, which cost over 214,000 tonnes of copper metal during the 44-day strike.
No labor agreement was reached this year but the union chose to exercise its rights to extend the existing collective agreement for 18 months.

Toro predicts that concentrates supply...

Published

Kiki Kang

Perrine Faye

December 01, 2017

10:32 GMT

Shanghai