30.3 mt @ 1.70% cueq, page-179

Charlie...from the International Copper Study Group latest report..

"ICSG expects world apparent refined usage in 2011 to increase by 4% from that in 2010 to more than 20 Mt. In 2012, refined
usage is again expected to increase in all major world markets, with global demand expected to rise by more than 4%. In 2012,
the production deficit is expected to narrow as refined copper production is expected to grow faster than demand."

http://www.icsg.org/images/stories/pdfs/icsg_press_release_-_2011_04__forecast.pdf

I say it again it is a race against time for CDU to realise a premium selling price for its copper, albeit at a discount to OW. CDU's use of $2lb could be closer to the mark than most would expect...

As the ICSG says..."the production deficit is expected to narrow as refined copper production is expected to grow faster than demand."