Bloomberg News

Chile Sees Copper at $3 to $4 a Pound in 2012, La Tercera Says

January 09, 2012

Jan. 9 (Bloomberg) -- Chile’s government estimates copper prices will fluctuate between $3 and $4 a pound this year, averaging close to $3.50, Santiago-based newspaper La Tercera reported, citing Deputy Mining Minister Pablo Wagner.

Chile’s government, which in October estimated copper would average $3.7 a pound in 2012, expects state-owned copper company Codelco’s contributions to the state to fall below levels seen in 2010 and 2011 because of lower prices and higher costs, the newspaper reported on its website.

Mining Ministry press officials didn’t answer telephone calls from Bloomberg seeking comment. Chile is the biggest copper-producing nation.

--Editor: Richard Jarvie, James Attwood.

To contact the reporter on this story: Randall Woods in Santiago at rwoods13@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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