CURRENT SMELTING AND REFINING CHARGES

摘要

The following figures represent a range of delivered charges (US dollar/dry mt) currently being quoted for shipments of relatively clean concentrate for delivery periods of up to one year. Mid-year 2007 negotiations started in May, and in June, BHP Billiton and Teck Cominco reached agreements with Pan Pacific, a joint venture between Nippon Mining and Mitsui Mining, at a rumored compromise of 50 dollars/mt and 0.05 dollars/lb, with no price participation. Sumitomo Metal Mining reported a mid-year deal with Teck Cominco's Highland Valley operation at 45 dollars/mt and 0.046 dollars/lb, with price participation of 1.5 percent above 1.50 dollars/lb, and a 0.04 dollars/lb cap. Escondida, majority owned by BHP Billiton, settled mid-year TC/RCs with Japanese smelters at about 47 dollars/mt and 0.047 dollars/lb, with no price participation. In all cases, settlements were lower than 2006's midyear contracts, which were about 60 dollars/mt and 0.06 dollars/lb, with a 0.06 dollars/lb cap on price participation.