Copper theft reaches R11.4m

2014-02-27 22:37
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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."

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