commodities / China
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Bloomberg · United States · BHP hit a half-year copper production record at Escondida and Olympic Dam; Faraday LOI and a China concentrate deal signal continued copper commitment
Reports resolution of the BHP-China Minmetals Resources Group dispute over Escondida copper concentrate pricing and offtake terms in April 2026. The dispute had centred on TCRC benchmarks under a multi-year concentrate supply agreement; the resolution involves a revised pricing mechanism aligned with current spot TC/RC levels, described by both sides as preserving the long-term relationship.
“BHP and China Minmetals resolved a concentrate pricing dispute in April 2026, revising the TC/RC mechanism under their Escondida supply agreement at near-zero spot terms.”