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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.

Soaring costs hit mining project profitability Soaring costs hit mining project profitability Soaring costs hit mining project profitability Soaring costs hit mining project profitability 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.

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