Copper Smelters in China, Japan Secure 10% Increase in Fees
This article is for subscribers only.
Jiangxi Copper Co., China’s biggest copper smelter, and Japan’s Pan Pacific Copper Co. said mining companies will pay them at least a 10 percent increase in fees to process the metal in 2013, climbing for a third year.
Jiangxi Copper settled fees with Freeport-McMoRan Copper & Gold Inc. and another miner it didn’t name at $70 a metric ton and 7 cents per pound, Pan Qifang, secretary of the board for the Guixi, Jiangxi province-based smelter, said today. Pan Pacific agreed with several miners, whose names it didn’t disclose, to increase the charges by 10 percent, said Shigeru Oi, senior executive officer for raw materials.