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LocoToroon May 17, 2010 1:03pm
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strong copper deficit 2011
strong copper deficit 2011
Rio sees 15% fall in copper output this year
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By: Reuters
17th May 2010
Updated 51 minutes ago
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LONDON – Miner Rio Tinto expects mined copper production to fall about 15% this year, mainly due to lower grades, an executive said on Monday.
Andrew Harding, chief executive of the group's copper unit, told Reuters Insider television mined copper output would fall to about 680 000 t in 2010 from 804 700 t last year.
Copper accounted for 32 percent of underlying earnings last year, making it the second most important division after iron ore. The global copper market would likely see a small surplus this year, but the market balance would flip into a strong deficit in 2011, he said on the sidelines of the World Mining Investment Congress.
https://www.miningweekly.com/article/rio-sees-15-fall-in-copper-output-this-year-2010-05-17