Friday, July 17, 2009
Copper mining headlines
A scan of Mineweb.com news finds some items of importance to Arizona:
Sterlite Industries' bid for Asarco has been endorsed by a committee of unsecured creditors of that company. Sterlite raised $1.5 billion in a single day this week, selling additional shares.
Phoenix-based Freeport McMoRan Copper & Gold ordered its Indonesian employees to stay home after 3 people were killed and 9 wounded on the road to its Grasberg mine in Papua.
China's demand for copper has changed global consumption patterns. Dundee Wealth Economics reports that China's share of global copper consumption rose from 13% in 2000 to 28.5% last year and 38% in the first quarter of 2009. [above, copper plates. Credit, Freeport McMoRan]
at 8:34 PM