BHP bets billions on Chile mines to face global copper crunch
BHP detailed to investors this week plans to spend $10.7 billion to $14.7 billion within about 10 years.
The CEO of Freeport-McMoRan said on October 19 that the company will not construct a new copper refinery due to the abundant supply of copper and the low profit margin of copper.
The company is under pressure from Indonesia to build more copper refineries in the country.
The vice president of Freeport-McMoRan believes that in the next two years global copper concentrates will be in short supply, but there will be a surplus of copper smelting capacity.
Source (Chinese): yicai.com
