BHP and Japan, S.Korean Smelters Agree TC/RC at $63.5/6.35 Cents - Sources

Industry News 09:36:49AM Jun 28, 2012 Source:SMM

TOKYO, June 27 (Reuters) - BHP's majority-owned Escondida mine and two Japanese and a South Korean smelter have agreed to mid-term copper concentrate treatment and refining charges of $63.5 a tonne and 6.35 cents a pound, the same as the 2012 annual term contract price set with Freeport McMoRan Copper and Gold late last year, trade and smelter sources said on Wednesday.

BHP initially offered $62/6.2 cents, but was forced to pay higher prices to smelters as production at the Escondida mine in Chile, the world's biggest, has not been smooth, one source said.

 

BHP and Japan, S.Korean Smelters Agree TC/RC at $63.5/6.35 Cents - Sources

Industry News 09:36:49AM Jun 28, 2012 Source:SMM

TOKYO, June 27 (Reuters) - BHP's majority-owned Escondida mine and two Japanese and a South Korean smelter have agreed to mid-term copper concentrate treatment and refining charges of $63.5 a tonne and 6.35 cents a pound, the same as the 2012 annual term contract price set with Freeport McMoRan Copper and Gold late last year, trade and smelter sources said on Wednesday.

BHP initially offered $62/6.2 cents, but was forced to pay higher prices to smelters as production at the Escondida mine in Chile, the world's biggest, has not been smooth, one source said.