Japan’s PPC Agrees Rollover on 2026 Copper Smelting Fees

Pan Pacific Copper and Lundin Mining Corp. have agreed to keep processing fees to turn copper ores into metal broadly unchanged next year, with the miner choosing not to pursue reductions that would further squeeze the Japanese smelter’s margins.

PPC and Lundin last month agreed to broadly roll over commercial terms set for this year in a supply deal for 2026, with smelting fees known as treatment and refining charges effectively remaining flat, according to people familiar with the matter, who asked not to be identified because the negotiations are private. The agreement was provisional and final commercial terms are still being discussed.