15th Jan 2014 06:39
MELBOURNE (dpa-AFX) - Japanese smelter Pan Pacific Copper said it could not reach an agreement with BHP Billiton on processing fees for copper and hence would not sign a long-term contract with the miner, reports said.
The Japanese firm is said to have asked for USD92 per ton to treat copper concentrate and 9.2 cents per pound to refine the metal.
The rates are the same as it had agreed with Freeport-McMoRan Copper & Gold Inc. (FCX) late last year for 2014. For 2013, Pan Pacific and Freeport had agreed on USD70 per ton and 7 cents per pound.
Pan Pacific reportedly ended discussions with BHP on January 10 for the annual supply contract.
BHP.AX is currently down 0.7% at AUD35.89.
Copyright RTT News/dpa-AFX
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