China Jiangxi Copper, Freeport agree 2014 TC/RC at $92/T, 9.2 cents/lb - sources

Reuters

HONG KONG, Nov 18 (Reuters) - China's Jiangxi Copper CompanyLtd and U.S. miner Freeport McMoRan have agreed to treatment and refining charges (TC/RC) of$92 per tonne and 9.2 cents per pound for copper concentrateshipments in 2014, up 31 percent from 2013 shipments, sourcessaid on Monday.

Miners pay TC/RCs to smelters to convert concentrate intorefined metal, with charges deducted from the sale price. Thecharges typically rise when supply increases.

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