Tuesday, November 09, 2010

World copper demand pushes Freeport cash flow to $6B

Copper dropped back below $4 a pound this week on currency concerns, but overall the trend seems to be up for the global commodity. Phoenix-based Freeport McMoRan Copper & Gold stock hit its highest price in over two years based on copper prices and the company's forecast of
free cash flow this year of over $6 billion, ahead of analysts predictions of $5B+.

The world demand for copper is reaching across Arizona with mines starting up again (e.g., Miama) and the addition of new workers at the Morenci mine.

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