Copper concentrate
Copper concentrate of typically 20% to 30% Cu, with gold and silver payables, from verified mines.
Copper concentrate: typical specification
Indicative- Copper
- Typically 20% to 30% Cu
- Precious metals
- Gold and silver, payable above agreed thresholds
- Arsenic
- Low and within the limits of the destination country
- Moisture
- Typically 8% to 10%
- Shipment
- Bulk vessels, or bagged in containers
- Pricing basis
- Payable metal at exchange prices, less treatment and refining charges
Typical specification for reference. Payable content is settled on the final assay at the discharge or load port, as set out in the contract.
Delivery terms
Documents supplied
Inspected at loading. Paid against documents.
Independent inspection by SGS, Bureau Veritas, Intertek or an equivalent accredited surveyor, with payment by documentary letter of credit.
About copper concentrate
Copper concentrate is the product of milling and flotation at the mine. It is shipped to smelters, which pay for the copper, gold and silver it contains, less treatment and refining charges.
Deleterious elements such as arsenic, mercury and bismuth can carry penalties or stop a cargo entering some countries, so the full assay matters as much as the copper grade.
Frequently asked questions
What are TC and RC?
Treatment and refining charges, deducted by the smelter to cover the cost of turning concentrate into refined metal. They are agreed per tonne of concentrate and per lb of payable copper.
How is the final assay settled?
Each side assays a sample. If the results are too far apart, an independent umpire laboratory decides, as set out in the contract.
How is payment usually made?
By documentary letter of credit from a bank acceptable to the seller, with payment against shipping documents and the inspection certificate.
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