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Oxiana sees copper at $5/lb within six months

Tue Apr 15, 2008 9:42pm EDT

SYDNEY, April 16 (Reuters) - Oxiana Resources Ltd OXR.AX said on Wednesday that strong demand for copper could see the price rise to $5 a pound within six months.

"The price of copper is going to remain under demand tension and I would not be surprised to see it pop through $5 a pound," Oxiana Chief Executive Owen Hegarty told reporters.

"What you can be assured of is that you are going to have a volatile price," he said on a conference call discussing the company's first-quarter production figures.

Copper currently sells at around $3.85 a pound.



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