* Demand from renewable energy, transport sectors to grow (Adds comment on industry context)
SHANGHAI, Nov 16 (Reuters) - Chilean miner Antofagasta Plc’s Chief Executive Officer Ivan Arriagada said on Wednesday he expects the global copper market to be in a “slight” surplus in 2017 before demand starts to outpace supply.
“In 2017, the market will have a slight surplus, but that will start switching faster than anticipated into a shortage after 2017,” Arriagada said in a speech at the Metal Bulletin Cesco copper conference in Shanghai.
A lack of discoveries of major new deposits and declining ore grades at existing mines will remain a major long-term challenge for supply, he said, while demand for copper from the renewable energy and transportation sectors is expected to grow. (Reporting by Josephine Mason and Melanie Burton; Editing by Kenneth Maxwell)