Antofagasta, Jiangxi Agree Record Low Copper Processing Fees
- Firms agree treatment charges for copper ore at $21.25 a ton
- Chinese smelters say break-even levels are probably $35-$40
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Miner Antofagasta Plc signed contracts to supply copper concentrates to Chinese smelter Jiangxi Copper Co. with processing fees set at the lowest in records going back to 1992.
The deal comes after a massive expansion of smelting capacity globally coincided with production setbacks at major mines — meaning smelters have to compete more to get hold of the partially processed copper ores known as concentrates.