TOKYO Jan 15 Pan Pacific Copper, Japan's
biggest smelter, said on Wednesday it would not sign a long-term
contract for copper processing fees with global miner BHP
Billiton in 2014, after they couldn't agree on
A PPC spokesman said its end-year treatment and refining
charges (TC/RC) negotiation with BHP Billiton "went into holiday
on Jan. 10".
"We have been asking for $92/9.2c, which we considered as
our benchmark, in this negotiation," a company spokesman said in
an emailed statement. "But we feel sorry that our positions
could not match. We decline to make any further comment."
Pan Pacific won its highest copper processing fees in eight
years in a deal with U.S. miner Freeport-McMoRan Copper & Gold
Inc in November, with TC/RCs set at $92 per tonne and 9.2 cents
per pound respectively.