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 Posted - 06/18/2008 : 03:20:15
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Copper processing charges may drop again this year because supplies to smelters are falling short of demand, strengthening the position of mining companies in annual talks, Freeport-McMoRan Copper & Gold Inc. said.
A mine supply shortfall of about 500,000 metric tons in 2007 will probably be repeated this year, Javier Targhetta, senior vice president of marketing and sales at Freeport, said in an interview yesterday. BHP Billiton Ltd. is among miners that are in talks with smelters in Japan and China on processing charges for annual contracts beginning next month.
``We may be seeing charges that are lower than last year's negotiations,'' Targhetta said in a Bloomberg Television interview from Madrid, where he is also president of Atlantic Copper, a smelting unit of Phoenix, Arizona-based Freeport.
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Copper Smelting Charges May Drop Again
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