BHP halts trader tenders from giant Escondida copper mine in Chile

Global mining company BHP has stopped tendering spot market copper concentrates from its Escondida mine, informed sources have told Fastmarkets.

Escondida in Chile, which produced 1.19 million tonnes of copper last year - around 5% of global supply - traditionally sells substantial volumes of concentrates on the spot market, with traders bidding against each other to win cargoes.

But the company has recently stopped offering spot tenders in favor of direct deals to smelters only, an example of how major mining companies are positioning themselves conservatively for a...

Published

Archie Hunter

April 15, 2020

12:54 GMT

London