PERTH (miningweekly.com) – Copper miner Sandfire Resources has moved to allay shareholder fears that China could be considering a ban on copper ore and concentrate imports from Australia.
Reports by the South China Morning Post suggest that copper and sugar exports from Australia into China will be halted, after the country banned the import of timber from Queensland and barley shipments from an Australian grain exporter.
Australia’s Minister for Trade, Tourism and Investment Simon Birmingham noted that there had been a number of disruptions to Australia's trade with China this year.
“We must recognize, and Australian industry does recognise, the risk factor appears to have changed as a result of some of the unpredictable administrative decisions that have been made at the Chinese end.
“Australia values our trading relationship with China. It is mutually beneficial to both nations, and we would urge that all of these issues be resolved through appropriate dialogue and recognition of the benefits to Chinese businesses and consumers, to Australian businesses and consumers, and indeed to the broader region and our economic recovery that come through a maintenance of that relationship in a respectful way that is predictable and lowers the risk for businesses, rather than enhance those risks,” the Minister said during a doorstop.
Sandfire on Tuesday said that the company maintained "regular contact" with its key customers and concentrate trading and smelting partners around the globe, and was confident in its ability, if required, to increase sales contract volumes to existing and new copper concentrate customers in non-Chinese markets, based on its market soundings and engagements during its regular tender process.
“The global copper concentrate markets are mature, robust and highly competitive for clean, high quality concentrate such as that produced from DeGrussa over the past eight years,” the company said in a statement.