[Cu] ICSG Cuts Growth Rate Forecast of Global Copper Mining Capacity

SHANGHAI, July 14 (CBI China) -- Copper mining capacity will rise by less than previously thought until 2013, according to the International Copper Study Group (ICSG). Annual mine output between 2009 and 2013 is expected to grow at an average rate of about 3.8% per year, lower than previous forecast of an average growth rate of 5% from 2008 to 2012. Meanwhile, annual copper mine output will reach 22.7 million mt in 3013, up 3.9 million mt compared to 2008.

    Nearly 75% of newly increased projects are located in Brazil, Chile, Congo, Mongolia, Peru, USA and Zambia.

    ICSG predicts global copper concentrate capacity will grow at rate of 3.4% per year or grow 2.7 million mt per year, and will reach 17.4 million mt in 2013.

    (Edited by CBI China)