Copper 2010 Mine Output To Rise, Refined May Be Tight -Aurubis

Copper mine output is likely to increase in 2010 but refined production may be in short supply if demand picks up, Europe's largest copper producer Aurubis AG (NDA.XE) said Tuesday.

"The situation differs between smelters and mines," Aurubis said, citing such smelter closures as Xstrata PLC's (XTA.LN) Kidd Creek in Canada next year as well as expansions such as the $2 billion project at Chile's Codelco mines.

Aurubis said it believes negotiations over treatment and refining charges haven't concluded with Chinese smelters.

"While copper concentrates are still in short supply in the spot business, the European copper scrap supply is still at a good level, due to higher availability, the trade's increased willingness to dispose of scrap and the absence of Chinese buying activities," Aurubis said.

-By Devon Maylie, Dow Jones Newswires; +44 (0)20 7842 9483; devon.maylie@dowjones.com

Aurubis (PK) (USOTC:AIAGY)
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