Phelps Dodge Corporation

Investors in love-in with commodities

Despite growing nervousness about the long-term effects of high oil prices on the broader economy, investors continued their love-in with commodities over the August 9-15 report period. Resource stock…


Phelps balances priorities

Vancouver — Robust prices for copper and molybdenum allowed Phelps Dodge (PD-N) to post record net income of US$682.3 million, or US$6.75 per share, for its latest quarter ended Ju…




DRC approves terms for Tenke Fungurume

Vancouver — The transitional government of the Democratic Republic of Congo (DRC) has approved the terms of amended agreements that will govern future development of the renowned Tenke Fungurume copp…


Barrick Gold's Alto Chicama operation in Peru. The mine, now known as Lagunas Norte, is exempt from paying mining royalties until the government decides when the exemption expires. Lagunas Norte poured its first gold in mid-June and is expected to produce between 545,000 and 550,000 oz. gold in 2005 at total cash costs of roughly US$110 per oz.

Peruvian royalty proving problematic

Lima, Peru — Record international metals prices have been hugely profitable for Peru. They also brought with them a nasty surprise: mining royalties. Everyone, it seemed, wanted a slice of the pie. B…



Antares sizes up Haquira (July 25, 2005)

A second look at 85 holes drilled by Phelps Dodge (PD-N) between 2001 and 2003 has allowed Antares Minerals (ANM-V) to pin down a National Instrument 43-101-compl…


Copper the only bright spot

U.S. stock markets rose steadily through the first four days of the reporting period July 12-18, but the gains were almost wiped out on the final day of the period. The S&P 500 index was up 1.69 p…




Franconia acquires Red Knoll target

Vancouver — Spokane-based Franconia Minerals (FRA-V) has inked a deal with Teck Cominco (TEK-T) to acquire the Red Knoll property, which covers an area of favour…


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