Company is aiming to replace exclusively copper concentrate deals with others that include concentrate and value-added intermediate products such as blister and anode.
Codelco is ending long-term contracts to sell copper concentrate to Chinese clients from 2025, bidding to broaden its product offering to them after evaluating its production outlook, five sources with direct knowledge of the matter said.
“Some measures adopted are due to the normal management of Codelco’s commercial product portfolio and not to availability adjustments and/or lower production,” Codelco said in response to a request for a comment.Operational problems at the state-owned miner saw its production slip last year to about 1.46-million metric tons, the lowest in around a quarter of a century and output has slipped further this year.
The sources, all of whom have long-term contracts with Codelco, said they had been receiving termination notices from Codelco from July to August and that the company wanted to start new agreements with different terms.
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Codelco ends long-term mined copper deals to China clients from 2025 -sourcesChile's Codelco is ending long-term contracts to sell copper concentrate to Chinese clients from 2025, bidding to broaden its product offering to them after evaluating its production outlook, five sources with direct knowledge of the matter said. The sources said Codelco is aiming to replace exclusively copper concentrate deals with others that include concentrate and value-added intermediate products such as blister and anode which are derived from concentrate and can be turned into copper metal or cathode.
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