Copper Production at Freeport's Manyar Smelter Pushed to November
Copper | 2024-10-02 12:37:36
Further delay from the smelter, one of the world's largest, potentially could support prices as analysts expect new supplies to hit the market soon, according to the report.
By Paul Ploumis
SEATTLE (Scrap Monster): Copper production at Freeport-McMoRan's new giant Manyar smelter in Indonesia will be delayed until November due to water and steam leakage during an initial test period, Reuters reported Tuesday.
Further delay from the smelter, one of the world's largest, potentially could support prices as analysts expect new supplies to hit the market soon, according to the report.
Manyar had been expected to produce its first batch of copper production in September, with samples to be delivered to potential clients in October for quality testing ahead of annual negotiations to buy and sell the copper for delivery in 2025, but the samples reportedly will now be delivered around November.
Manyar was built to process copper concentrate from Freeport's Grasberg mine, the world's second-biggest copper mine.
Manyar will have the capacity to process 1.7M metric tons/year of copper concentrate to 480K tons/year of copper, nearly 3% of global mined supplies.
Courtesy: www.reuters.com
