Supply of copper concentrate will remain tight for another five years due to a lack of new mining projects and excess smelting capacities, Codelco's new commercial vice president, Roberto Ecclefield, said.
"We see five more years of very tight markets - there is plenty of treatment capacities but the problem is the lack of concentrates," he told Metal Bulletin on Tuesday April 10 during Cesco Week in Santiago, Chile. This year alone, China could be adding 1.2-1.5 million tonnes of smelting capacities, according to Codelco. "This is equivalent to one new Codelco every year needed to meet this extra demand," Ecclefield said....