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 [...]

Freeport-McMoRan Copper & Gold Inc.’s $25.9 billion cash-and-stock acquisition of Phelps Dodge Corp. was approved today, a deal that would create the world’s largest publicly traded copper company.
In separate votes by shareholders of New Orleans-based Freeport and Phoenix-based Phelps Dodge, the buyout was approved by about 98 percent of the votes cast, the companies said [...]

How the mighty have fallen. Copper, one of the most prolific commodity fund darlings of the great 2006 bull market has fallen on hard times.
There was a time in early 2006 when it looked like there was no limit as to how high copper prices could rise. The housing market in the U.S. had not [...]

Freeport-McMoRan Copper & Gold Inc. and Phelps Dodge Corp. announced each company will hold a special meeting of its stockholders on March 14, 2007, to vote on the proposed acquisition of Phelps Dodge by FCX. Stockholders who hold shares of FCX and Phelps Dodge common stock at the close of business on February 12, [...]

Phelps Dodge Corp., world’s No. 2 copper producer, sees increased copper production and sales in the first quarter over fourth quarter 2006.
The Phoenix, Arizona-based mining giant expects to produce between 625 million and 655 million lbs of copper in the first quarter of 2007 and about 2.9 billion lbs for the year, said Phelps Dodge [...]

Shanghai copper futures closed 4 percent lower on Tuesday, tracking the previous day’s losses in London when profit taking dragged copper down 3.8 percent.
The most active April contract was down 2,370 yuan at 51,910 yuan ($6,679) a tonne at the close. Just before the closing bell, copper was at its downside limit of 51,900 yuan.
Copper [...]

Phelps Dodge Corp., which is being acquired by Freeport McMoRan Copper & Gold Inc., reported a ten-fold increase in fourth-quarter profit on Monday as it cashed in on higher copper prices.
The price of copper averaged $3.20 a pound in the quarter, up from $1.95 a year earlier. The red metal, which peaked at around $3.80 [...]

Anglo American Plc , the world’s third biggest mining group, has joined the rush to discover new Philippine mines by seeking permits to explore in a dozen areas in the country, a source close to the firm said on Friday.
Anglo, which has a joint venture with local firm Philex Mining Corp. in the Boyongan copper [...]

The Philippines’ long dormant mining sector is on the verge of taking off, with five of the world’s largest firms joining the rush to dig the country’s untapped mineral wealth, a senior official said on Thursday.
Environment and Natural Resources Secretary Angelo Reyes said he expected a mining boom in the country in 2008, despite the [...]

Valencia Ventures Inc. is pleased to advise shareholders and prospective investors that diamond drilling has been completed at its Cachinal Silver Project in Chile. The program was designed to confirm twin high grade silver intersections previously indicated by reverse circulation drilling. This additional data will assist with completion of the resource estimation and NI43-101 report [...]