Freeport-McMoRan Copper & Gold Inc. Announces Molybdenum Production Curtailment and Plans to Defer Restart of Climax Molybdenum Mine

Freeport-McMoRan Copper & Gold Inc. announced in response to the recent sharp decline in molybdenum prices plans to reduce production from its Henderson primary molybdenum mine and to defer the restart of the Climax molybdenum mine. Molybdenum markets have been strong in recent years, averaging $30 per pound in 2007 and $33 per pound in the nine months ended September 30, 2008. Slowing demand... 

Tag: copper and gold mine green valley, henderson mine molybdenum annual production, is there any projects going on in the safford mine, molybdenum the congo, 2008 copper freeport gold mcmoran arizona molybdenum

Higher Oil Prices Could Lead to Higher Overall and Core Inflation Rates: St. Louis Fed Analysis

Although the price of petroleum has moderated recently, a permanent increase to $150 per barrel by the end of 2008 could have a significant negative effect on the rate of real gross domestic product (GDP), at least in the short run, based on an analysis from the Federal Reserve Bank of St. Louis. Kevin L. Kliesen, an economist with the St. Louis Fed, analyzed the price of oil and the U.S. macroeconomy... 

Alcoa Sends Letter to Alcan Board Outlining Commitments to Quebec; Will Meet Requirements of Agreement between Alcan and Quebec Government

Alcoa Inc. announced that it has reviewed Alcan’s continuity agreement with the Government of Quebec which identifies the requirements that Alcoa must meet regarding Alcan’s future operations in the Province in order to maintain certain of Alcan’s hydroelectric and water rights. In a letter to Alcan’s Board of Directors, Alcoa outlined the many ways in which its offer to acquire... 

Tag: bechtel and maaden, deschambault smelter expansion, inert anode alcoa, the mineral industry of brazil in 2007, petroleum egineer demand in norway

NewGen Agrees to Terms for $70 Million in Senior Debt Financing to Fund APPCO Acquisition and Pursue Additional Strategic Initiatives

NewGen Technologies, Inc. announced that it and BioFuel Investments, LLC (“BFI”) reached an agreement relating to $70 million in secured debt financing. Proceeds from the financing will be utilized to complete the purchase of Appalachian Oil Company (“APPCO”), pay off existing debt and other strategic objectives to facilitate distribution of premium blended biofuels through... 

Rising commodity prices, design changes boost cost of coal plant

Lamar Light and Power Superintendent Rick Rigel has been called upon to answer some tough questions about project costs for the coal repowering project in recent weeks. Although ARPA (Arkansas River Power Authority) is financing the project and actually owns the new facility, since Lamar Light and Power will be a major consumer of the power generated, the operating agent of the new facility and the...