Tuesday, July 22, 2008

Freeport's profit drops as copper production costs double

Freeport McMoRan Copper & Gold announced that their 2nd quarter profits dropped as copper production costs more than doubled, in part due to higher energy costs, and production dropped from their large Indonesian mine.

At least one analyst is still speculating that Brazilian-based Vale is still considering a buyout of Freeport, despite Vale's specific denial last week.

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