Bloomberg News

Rio Tinto’s Open Copper Sales Were 181 Million Pounds on Dec. 31

February 09, 2012

Feb. 9 (Bloomberg) -- Rio Tinto Group had 181 million pounds of so-called open copper shipments that will be priced in the first half of this year.

The sales were provisionally at $3.44 a pound at the end of last year, London-based Rio said in a statement today. Copper for March delivery was down 0.3 percent at $3.899 a pound on the Comex in New York today.

At the end of 2010, Rio had 270 million pounds of open copper shipments provisionally at $4.28 a pound, it said.

Mined copper production fell 23 percent last year due to lower grades at Kennecott Utah Copper, Escondida in Chile and Grasberg in Indonesia, Rio said.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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