Bloomberg reported that Freeport-McMoran Copper & Gold may double its sales of copper concentrate to China in the coming years to capitalize on a surge in demand.
As quoted in the market report:
Sales to China may be 800,000 to 1 million metric tons by 2016, up from more than 500,000 tons this year, Targhetta said in an interview in Madrid yesterday. The company’s concentrate sales to the biggest metals buyer have grown 10 times since 2005, he said. Copper concentrate is the material from mines that’s processed into cathodes for use in pipes and wiring.