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BHP forecasts copper deficit by the year 2018

iconNov 24, 2014 14:22
Source:SMM
BHP Billiton today articulated that the industrial production of copper will be highly affected by structural factors such as grade decline of the metal and higher strip ratios.

Author: Paul Ploumis
24 Nov 2014 Last updated at 01:26:16 GMT
CANBERRA (Scrap Monster): The Melbourne based subsidiary of BHP Billiton, in their statement released today articulated that, the industrial production of copper will be highly affected by structural factors such as grade decline of the metal as well  as higher strip ratios. The statement further added that, the availability of energy and water might also affect the copper production of certain mines.

According to the  report released by the Wood Mackenzie Ltd, by the year 2022, 4.5 million tonnes of production of the metal might be needed in order  to meet the rising demand of copper. According to the reports from Goldman Sach, the supply gap of the metal might reach up to 2 million tonnes by the  year of 2018.

In the statement released by BHP, the company stated that, the output of copper in the Escondida, located in Chile decline from the current year in the year 2016, if the company lacks to increase  its production in an aging concentrator. In Sydney, Peter Beaven, the Chief Financial Officer of Bhp, stated to the company’s investor’s that, the company is also planning on to invest in installing a desalination facility, by the  year 2017, which will reduce the  chances of water supply shortages in the mine, which might affect other copper producers.
 

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