Bloomberg News

BHP Said to Offer China Smelters Treatment Charges at $60 a Ton

January 04, 2012

Jan. 4 (Bloomberg) -- BHP Billiton Ltd. has offered Chinese smelters annual copper ore treatment fees of $60 a metric ton and 6 cents a pound for refining, according to two smelter executives with knowledge of the discussions.

The executives declined to be identified as the talks are private.

The processing fees were lower than the $63.5 a ton and 6.35 cents a pound settled between Jiangxi Copper Co., China’s largest producer, and Freeport-McMoRan Copper & Gold Inc. in November.

Ruban Yogarajah, a London-based spokesman for BHP, didn’t immediately respond to a phone message and e-mail seeking comment. Jiangxi Copper’s board secretary Pan Qifang denied knowledge of any deal when contacted by phone.

--Helen Yuan, with assistance from Thomas Biesheuvel in London. Editors: Richard Dobson, Thomas Kutty Abraham

To contact Bloomberg News staff for this story: Helen Yuan in Shanghai at hyuan@bloomberg.net

To contact the editor responsible for this story: Richard Dobson at rdobson4@bloomberg.net -0- Jan/04/2012 10:08 GMT


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