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«Antofagasta»: Copper will go up

As early as next year, 2011, the average price of copper on the world market must overcome the psychological barrier of $ 3 / lb, assures top management of the company «Antofagasta», which is one of the world's largest producers of the metal. These forecasts are made despite the fact that in 2011 the company expects to increase copper production by at least one third — to 700 thousand tons (it will be possible thanks to the launch this week an additional, fourth mine). The basis for these predictions is still a high level of demand for copper, demonstrated the Asian market. We add that, apparently, the company will make every conceivable effort to enter the announced volume production: the world situation for the sale of copper formed an extremely favorable, and, according to public data, the total production cost of a pound of copper in the third quarter for the «Antofagasta» held at the level of $ 1.09 / lb.

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