Copper theft reaches R11.4m

2014-02-27 22:37
(<a href='http://www.shutterstock.com'>Shutterstock</a>)

(Shutterstock)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Johannesburg - Copper theft increased to a level of R11.4m in January, the SA Chamber of Commerce and Industry (Sacci) said on Thursday.

This was up from R10.5m copper theft in December last year, Sacci said in a statement.

"The Copper Theft Volume Indicator increased to 143 metric tons in January 2014 from 140 in December 2013."

The international spot price of copper decreased to a monthly average, to date, of about R76 806 per metric ton in February, from about R78 233 in January 2014.

South African exports of waste copper products remained relatively low, despite increasing from about R160.4m in November 2013 to about R166.2m in December.

Sacci said the outlook for reducing copper theft levels this year remained relatively optimistic.

"Barring sudden prolonged price spikes in copper and a continuation of the good work done by the authorities, the outlook is that copper theft will become less and less prevalent as organised copper theft syndicates are put behind bars."

- SAPA
Read more on:    sacci  |  johannesburg
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
SPONSORED CONTENT
Investment tips you need to know 2015-01-29 14:07

Ever wondered how to assess your future potential liability? Feroz Basa, Senior Portfolio Manager Old Mutual Investment Group, weighs in on all the investment tips you need to know. WATCH.

/News

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Valentine’s Day gifts – 14 Feb!

Gifts to spoil him and her. While stocks last. Shop now!

Games on Sale!

Save up to 60% on selected games. While stocks last. Shop now!

Up to 30% off All Textbooks

Save up to 30% off an extensive range of prescribed textbooks for all major universities and FET colleges. Shop Now!

Save up to 40% on outdoor accessories!

Tents, sleeping, day packs and more. While stocks last. Shop now!

30% off fragrances

Get 30% off fragrances for him and her. While stocks last. Shop now!

OLX Free Classifieds [change area]

Horoscopes
Aquarius
Aquarius

Love is in the air and it is swirling around you in a romantic mist. This may be an idealistic yearning for that perfect love or...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.