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Copper Mine Prices Slump, Freeport-McMoRan Copper & Gold Inc. Into Worst This Year
Freeport-McMoRan Copper & Gold Inc., the best-performing stock among North American mining companies in 2007, turned into the worst this year. Analysts say the company may not fare much better in 2009 as copper prices slump.
Australian Stocks Drop, Led by ANZ, Westpac and BHP Billiton
Australian stocks dropped, following declines in markets globally after bond yields gained, increasing speculation higher borrowing costs will curb growth in the world’s largest economies.
Australia & New Zealand Banking Group Ltd. led declines among the nation’s biggest companies after the yield on the government’s 10-year bond jumped, making dividends relatively less attractive. BHP Billiton [...]
World’s mining firms dig in perilous terrain
The world’s biggest mining companies, hungry for metals increasingly tapped out in developed countries, are plunging into risky new terrain. Mining executives are setting up operations in some of the most violent, politically turbulent places, like the Tenke Fungurume copper and cobalt mine Phelps Dodge approved here in December.
Expatriate homes for the Tenke staff have [...]
European Stocks Fall, Led by Rio; E.ON Declines on Rate Concern
European stocks fell, led by mining shares after Rio Tinto Group damped speculation of takeovers in the industry and copper declined for a third day.
“We’re getting into a stage where there’s a lot of noise” about potential bids, said Sailesh Bhundia, who helps manage $2.4 billion at EFG Asset Management in London. Investors have to [...]
European shares lifted by upgrades, oil as G7 eyed
European stocks gained by midday on Friday, benefiting from brokerage upgrades after a rush of earnings, as oil hovered around $60 and investors focused on a Group of Seven meeting in Germany.
At 1113 GMT, the FTSEurofirst 300 index of top European shares was up 0.51 percent at 1,541.98 points, with the auto sector leading the [...]
Gold Rush Plunges Undersea as Miners Scour Pacific (Correct)
(Corrects company in 10th paragraph whose shares declined.)
David Heydon says the rock he dredged from a mile beneath the sea off Papua New Guinea looked like nothing more than a dull-brown fire hydrant. Inside were veins of copper and gold worth $300.
Two companies exploring the South Pacific seas with new remote-controlled robots are betting rocks [...]
