Crucial copper TC/RC talks with Japanese set

Dec 04, 2006 | 09:13 AM | Sean Barry

Crunch talks between Japanese smelters and copper miners BHP Billiton and Freeport-McMoRan Copper & Gold Inc. are scheduled to take place next week, when smelters likely will battle to retain the price participation element of annual treatment and refining charge (TC/RC) agreements.

The talks with the Japanese follow reports that BHP, majority owner of the massive Minera Escondida Ltda. operation in Chile, recently agreed to terms of $60 a tonne/6 cents a pound with no price participation with South Korean and Indian smelters. At least one Chinese smelter also agreed close to this level, according to sources.....

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