Aurubis will purchase copper concentrate from QB2, a unit of Teck, with an annual production capacity of 300000 tons in the first five years of production in 2021.

Published: Jun 4, 2019 14:53

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Tek Resources (Teck) has agreed with Aurubis that Aurubis will purchase copper concentrate from Tek Resources's Quebrada Blanca Phase 2 (QB2) project in Chile for a long period of time over the next decade. According to the current plan, QB2 will begin production in 2021 and is expected to reach 300000 tons per year in the first five years. By then, the copper mine will be among the top 20 copper mines in the world.

SMM6, April 4 / PRNewswire-FirstCall-Asianet /-(Teck) and Aurubis have reached an agreement to purchase copper concentrate from Tek Resources's Quebrada Blanca Phase 2 (QB2) project in Chile for a long time over the next decade, Bloomberg reported.

According to the current plan, QB2 will begin production in 2021 and is expected to reach 300000 tons per year in the first five years. By then, the copper mine will be among the top 20 copper mines in the world.

Thomas B ü nger, executive director of Aurubis AG, said the long-term agreement would ensure a stable supply of copper concentrate, which is crucial to the European and German markets.

Because even now the company has expanded its investment in raw material recycling, such as the previous purchase of metal recycling company Metallo Group for 380 million euros ($424 million). However, due to the strong global copper demand, Europe's copper reserves can not meet this huge demand, so it is of great strategic significance for the company to obtain a stable supply of copper concentrate from other copper-producing countries.

(note: this article is translated from Bloomberg. If copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)

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