Tongling Nonferrous Wins 54.8% Copper Fee Increase

Feb. 18 (Bloomberg) --Tongling Nonferrous Metals Group Co. secured a 54.8 percent increase in treatment and refining charges for processing copper concentrate in the first half from BHP Billiton Ltd., the smelter said today.

Tongling agreed $72 per metric ton for treatment fees and 7.2 cents per pound for refining fees with the Australian mining company on Jan. 20, it said in a statement to the Shenzhen Stock Exchange. That compares with $46.5/4.65 for 2010, it said.

The increase will have a “positive impact” on the company, it said. The company will purchase 40,000 dry tons of concentrate from BHP in the first half and will negotiate fees for the second half, it said.