Commodities
Chile Copper Miner Offers Chinese Smelters Negative Processing Fees as Talks Start
The smelting area at a copper processing facility in Machali, Chile.
Photographer: Cristobal Olivares/BloombergChilean copper miner Antofagasta Plc has proposed negative treatment charges for sales to Chinese smelters amid a global squeeze on supplies of ore, according to people familiar with the negotiation.
Antofagasta made an initial offer this week at a treatment charge of -$15 a ton for supplies to Chinese clients, the people said, asking not to be identified discussing a sensitive commercial matter. The number was first reported by Mysteel Global.