Source: http://www.miningweekly.com                            Date: 17 November, 2011

China's top copper producer Jiangxi Copper Company said domestic copper consumption growth is expected to exceed 9% in 2011, and warned of a global shortage by as early as next year. Mr. Gan Chengjiu, chief financial officer of Jiangxi Copper, said copper consumption would closely track the country's economic growth and the near-term demand outlook was bright.

"Some industry observers have forecast the shortage to be between 300,000 tons and 600,000 tons. I think the shortage will be within that range or possibly higher depending on the pace of recovery in the global economy," Mr. Gan said. This echoes the thinking of other major producers, including mining giant BHP Billiton and Rio Tinto, which have both cautioned that supply could fall short because of a lack of investment in new mines.