SHANGHAI Jun.22 (CBI China)--A top manager from Pan Pacific Copper disclosed on Tuesday (June 19th) that the company has settled Treatment Charges/Refining Charges (TC/RC) at USD 50 - 55/mt or 5 – 5.5 cents/lb, respectively. The mid-year contract will be effective from July 2007 to June 2008.

    The settled TC/RC was above market expectations and was higher than the previous offer of USD 40/mt and 4 cents/lb.  CBI believes this will be the benchmark for TC/RC negotiations between Chinese smelters and overseas mines at the end of this year.