Representatives of major mining companies believe the global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong.
“The one thing this industry does very well is mine gold at a loss,” Randgold Resources CEO Mark Bristow told analysts at a breakfast meeting on Friday.
Codelco Chief Executive Pizarro said company produced 1.24m tonnes of copper in January-to-September period, a 3 percent decline from same period last year.