By Rory Gallivan

 

LONDON--BHP Billiton PLC (BLT.LN) said on Tuesday that it plans to reduce copper production costs to cope with lower selling prices for the industrial metal.

The company said it plans to lower costs for producing copper to $1.08 per pound, without giving a figure for current costs.

Daniel Malchuk, BHP Billiton President Copper, said that while near-term oversupply is weighing on current prices, attractive long-term fundamentals continue to support a positive outlook.

 

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

 

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(END) Dow Jones Newswires

December 01, 2015 06:29 ET (11:29 GMT)

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