Japan's Pan Pacific, Freeport agree 2016 TC/RCs at $97.35/T, 9.735 cents/lb

lunes 1 de febrero de 2016 11:05 GYT

TOKYO Feb 1 (Reuters) - Pan Pacific Copper (PPC), Japan's biggest copper smelter, and Freeport have set 2016 treatment and refining charges 9 percent lower than last year's fees, as global mines cut output due to slumping prices.

PPC and Freemont have agreed treatment and refining charges (TC/RCs) for this year at $97.35 a tonne and 9.735 cents a pound, a PPC spokesman said on Monday.

The outcome is in line with an agreement by China's top integrated copper producer, Jiangxi Copper , and Chilean miner Antofagasta Minerals over 2016 TC/RCs.

TC/RCs are paid by miners to smelters to refine concentrate into metal and are a key part of the global copper industry's earnings.

(Reporting by Yuka Obayashi; Editing by Dale Hudson)