UPDATE 1-Copper firm Aurubis to shun Africa in hunt for acquisitions

lunes 4 de abril de 2016 14:42 GYT
 

* CFO sees strong copper demand in Europe

* Says dollar strength helps boost earnings (Adds detail, comment)

By Pratima Desai

SANTIAGO, April 4 (Reuters) - Aurubis, Europe's biggest copper smelter, is looking for potential acquisitions in emerging markets, but prefers those with less political risk, its chief financial officer said on Monday.

"So that means Africa may not be at the top of our list, we are also a little shy of Chinese opportunities," Aurubis CFO Erwin Faust told Reuters on the sidelines of a copper industry conference in Santiago.

Faust added that German-based Aurubis was open to opportunities elsewhere in Asia and in the Americas, but said there was nothing on the table at the moment. "There are not too many opportunities."

Aurubis' last acquisition was in 2011, when it bought the rolled copper operations of the Luvata group.

Faust also said spot treatment and refining charges (TC/RCs), the cost of processing ore, were rising.

"We see them in the high $80s (a tonne) now. We expect them to go further because the Peruvian mines coming on stream have good quality concentrate."   Continuación...