Freeport deal with China copper smelters on charges may pressure BHP
(Reuters) – U.S. miner Freeport-McMoRan Copper & Gold Inc has agreed to pay nearly a third more in annual processing charges to China’s leading copper smelters, likely increasing the pressure on rival BHP to raise its own offer on the charges.
The higher charges reflect expectations for growing mine supply pushing the market into a widening surplus next year and keeping a lid on copper prices.
Read more at: http://www.reuters.com/article/2013/11/18/us-jiangxicopper-freeport-tcrc-idUSBRE9AH0BI20131118
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