China's leading copper producer Jiangxi Copper Corp. (600362.SH; 0358.HK) came to an agreement with Antofagasta Minerals, a Chile-based copper mining group, on the copper treatment and refining charges (TC/RC) for 2016 on Tuesday.
Under the agreement, the TC/RC for 2016 will be 97.35 US dollars per metric ton (tonne) and 9.375 cents per pound, down 9 percent from that in 2015.
The copper TC/RC for 2015 was 107 US dollars/tonne and 10.7 cents/pound. Global miners pay TC/RCs to smelters to convert concentrate into refined metal, with the charges deducted from the concentrate sales price, based on copper values on the London Metal Exchange (LME).
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