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Chilean miner Antofagasta and Jiangxi Copper have agreed significantly lower copper concentrate processing fees for 2025, four sources with knowledge of the matter toldThe agreement between Antofagasta and Jiangxi Copper for treatment and refining charges of $21.25 a ton and 2.125 cents per pound represents a drop of 73.4% from the $80/8 cents industry benchmark for 2024, a sign of concerns about sufficient availability of copper concentrate in the spot market in 2025.
The first agreement between global copper miners and smelters in China, the world’s dominant processor, has often set a benchmark for fees of other industry players in recent years.
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