China Tongling signs 2010 TC/RCs with Freeport

By IBTimes Staff Reporter | December 24 2009 11:28 AM

HONG KONG, Dec 24 - Tongling Nonferrous (000630.SZ), China's second-largest copper producer, signed 2010 copper processing fees, known as treatment and refining charges (TC/RCs), at $46.50 per tonne and 4.65 cents per pound with U.S. miner Freeport-McMoran Copper & Gold Inc (FCX.N), a trade executive said on Thursday.

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We signed the deal yesterday, Yang Jun, general manager of Tongling's international trade division told Reuters.

Yang said the TC/RCs were likely to be the benchmark for 2010 in China. (Reporting by Polly Yam; Editing by Chris Lewis)

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