Group 1 - Japan, Spain, and South Korea issued a rare joint statement expressing deep concern over the declining copper treatment and refining charges (TC/RCs), warning that the current situation is unsustainable for both smelters and miners [2] - The industrial sectors of the three countries stated that the deterioration of TC/RCs is prompting a reassessment of global copper smelting operations, with some companies indicating intentions to reduce or exit copper concentrate smelting [2] - TC/RCs, which are a primary revenue source for smelters, have turned negative in some spot transactions this year, forcing smelters to pay miners for providing smelting services [2] Group 2 - The three countries' industrial departments highlighted that the current market environment hinders the sustainable development of the copper smelting industry and mining sectors in resource-producing countries, increasing dependency on specific nations [2] - They expressed a desire for TC/RCs in copper concentrate trade to return to sustainable levels and committed to collaborating with relevant countries and stakeholders to establish a resilient and sustainable copper supply chain [2] - Japanese copper smelters JX Advanced Metals and Mitsubishi Materials announced plans to reduce copper concentrate processing due to declining fees eroding profit margins [3]