METI hosted the Public-Private Dialogue towards Robust and Resilient Copper Supply Chains on the occasion of the Prospectors & Developers Association of Canada Convention (PDAC), inviting smelting companies, mining companies, and relevant government agencies involved in the copper supply chain from a total of 14 countries and regions. From the Japanese side, METI, JOGMEC, and copper smelting companies participated in the dialogue.

During the first half of the meeting, which consisted of panel discussions by an international organization, private-sector companies, and an industry consulting firm, panelists expressed concerns toward the over-capacity of new smelting companies in specific regions and the resulting imbalance of supply and demand in the copper concentrate market. They also emphasized that the sharp decline in treatment and refining charges (TC/RC), driven by these market distortions, has raised questions about the long-term economic sustainability of smelting companies.

In the latter half of the meeting, during the public-private dialogue, participants exchanged views on the need to pursue sustainable TC/RC that reflect actual business situations—not merely relying on traditional benchmark-based approaches. Recognizing that global demand for copper is expected to rise further with the expansion of AI infrastructure, renewable energy, and other developments, METI and stakeholders affirmed that this dialogue serves as a starting point for continued public-private collaboration to build a resilient copper supply chain. The participants confirmed their commitments to addressing the challenges surrounding TC/RC and ensuring the long-term sustainability of the copper industry.

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  Remarks by the chair
  


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  Panel session
  


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  Public-Private Roundtable
  

Related Link

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  The Ministry of Economy, Trade and Industry of Japan held a meeting with the Ministry of Industry and Tourism of the Kingdom of Spain, and with the Ministry of Trade, Industry and Resources of the Republic of Korea, to deliberate on the sustainable development of the copper smelting sector. Following these discussions, the three countries jointly compiled a statement entitled “Joint statement on unsustainable Treatment Charges and Refining Charges (TC/RC).
  
  

Division in Charge

Mineral Resources Division, Manufacturing Industries Bureau