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Soaring costs hit mining project profitability

Sharply higher prices for diesel, electricity, labour and consumables have boosted the marginal cost of producing copper by a project-damaging 30% over the past 12-months, according to the latest assessment of the copper market by Citi, an investment bank.

Tim Treadgold
Soaring costs hit mining project profitability

From an industry-wide marginal production cost of US$6150 a tonne in 2021 the cost of producing copper has risen to $8000/t, the bank said. Some existing mines will struggle to trade profitably in the...

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