Platts: Plans to increase global copper output will ease tightness – Commerzbank

The planned measures to expand copper production should ease the tight supply situation on the global copper market, according to Commerzbank Tuesday. “The first major project worth mentioning that is set to commence production in the next few years is the Oyu Tolgoi mine in Mongolia, operated by Rio Tinto and Ivanhoe. The world’s largest copper/gold deposit contains 81 billion lb of copper and 46 million oz of gold. Commercial production is due to begin in the first half of 2013, so 2012 may initially be the last year to see a supply deficit on the global copper market,” the German bank said. While the International Copper Study Group anticipates a deficit of 256,000 mt, research institute Brook Hunt offers a somewhat more optimistic prognosis of 117,000 mt, the bank added. To read the full article, click herePlans to increase global copper output will ease tightness – Commerzbank

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