Antofagasta, Jiangxi agree major drop in 2025 copper TC/RCs, sources

Chilean miner Antofagasta and Jiangxi Copper have agreed significantly lower copper concentrate processing fees for 2025, four sources with knowledge of the matter told Reuters on Thursday.

The agreement between Antofagasta and Jiangxi Copper for treatment and refining charges (TC/RCs) of $21.25 a ton and 2.125 cents per pound represents a drop of 73.4% from the $80/8 cents industry benchmark for 2024, a sign of concerns about sufficient availability of copper concentrate in the spot market in 2025.