Freeport reviewing projects. El Abra copper mine expansion under the ...
[2008-12-23 17:03:34]
Freeport reviewing projects. El Abra copper mine expansion under the ...
Freeport reviewing projects. El Abra copper mine expansion underthe microscope.
Major copper miner, Freeport, says it is reviewing all itsexpansion projects in the light of the current tight financialsituation. Posted: Monday , 03 Nov 2008
SANTIAGO (Reuters) -
Global miner Freeport-McMoRan Copper & Gold (FCX.N) said onSaturday it is considering delaying an expansion project aimed atextending the life of its El Abra joint venture with Chile'sColdelco.
Freeport-McMoRan and Codelco, the world's No.1 copper producer,said in July they would invest around $450 million in the so-calledSulfolix project to mine sulfides at El Abra after oxides run outin 2010, thereby extending its life by 10 years.
But with global recession fears swirling and copper prices downsharply from all-time highs of over $4 per pound in July, Freeportis reviewing its expansion projects.
"The company is studying costs and expansion projects, but nodecision has been taken," a Freeport spokesman told Reuters inSantiago.
"Globally we are looking at all expansion projects. Sulfolix is anexpansion project, and so we are obviously looking at it."
The El Abra mine, 49 percent owned by Codelco and 51 percent ownedby Freeport, produced 166,000 tonnes of copper in 2007.
The mine, in Chile's rich northern mining district, has some 600million tonnes of copper-rich mineral in reserves.
Freeport operates mines in the United States, Indonesia, Peru andChile.
Including El Abra, Codelco's copper output for the first ninemonths of the year was 1.107 million tonnes, compared to 1.201million tonnes during the same period in 2007. (Reporting by SimonGardner, editing by Patricia Zengerle)
© Thomson Reuters 2008. All rights reserved.
Disclaimer
MINEWEB is an interactive publication, with rolling deadlinesthrough each day, commencing in the Sydney morning, andconcluding, 24 hours later, in the Vancouver evening. If youbelieve your side of an issue deserves inclusion, but has failed tomeet one of our deadlines, you are invited to notify the Editor inChief in Johannesburg, and we will include you in our editing andexpanding on our stories. Email him at alechogg@gmail.com
http://www.mineweb.net/mineweb/view/mineweb/en/page36?oid=72001&sn=Detail [2008-11-4]
Tag : copperFreeport reviewing projects. El Abra copper mine expansion underthe microscope.
Major copper miner, Freeport, says it is reviewing all itsexpansion projects in the light of the current tight financialsituation. Posted: Monday , 03 Nov 2008
SANTIAGO (Reuters) -
Global miner Freeport-McMoRan Copper & Gold (FCX.N) said onSaturday it is considering delaying an expansion project aimed atextending the life of its El Abra joint venture with Chile'sColdelco.
Freeport-McMoRan and Codelco, the world's No.1 copper producer,said in July they would invest around $450 million in the so-calledSulfolix project to mine sulfides at El Abra after oxides run outin 2010, thereby extending its life by 10 years.
But with global recession fears swirling and copper prices downsharply from all-time highs of over $4 per pound in July, Freeportis reviewing its expansion projects.
"The company is studying costs and expansion projects, but nodecision has been taken," a Freeport spokesman told Reuters inSantiago.
"Globally we are looking at all expansion projects. Sulfolix is anexpansion project, and so we are obviously looking at it."
The El Abra mine, 49 percent owned by Codelco and 51 percent ownedby Freeport, produced 166,000 tonnes of copper in 2007.
The mine, in Chile's rich northern mining district, has some 600million tonnes of copper-rich mineral in reserves.
Freeport operates mines in the United States, Indonesia, Peru andChile.
Including El Abra, Codelco's copper output for the first ninemonths of the year was 1.107 million tonnes, compared to 1.201million tonnes during the same period in 2007. (Reporting by SimonGardner, editing by Patricia Zengerle)
© Thomson Reuters 2008. All rights reserved.
Disclaimer
MINEWEB is an interactive publication, with rolling deadlinesthrough each day, commencing in the Sydney morning, andconcluding, 24 hours later, in the Vancouver evening. If youbelieve your side of an issue deserves inclusion, but has failed tomeet one of our deadlines, you are invited to notify the Editor inChief in Johannesburg, and we will include you in our editing andexpanding on our stories. Email him at alechogg@gmail.com
Source: 沱沱网
Keywords:Industrial Supplies
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