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 [...]
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 [...]
Phelps Dodge Corp. will conduct a live audio Webcast of its fourth quarter 2006 conference call with the financial community Monday, Jan. 29, 2007, at 9:30 a.m. EST. J. Steven Whisler, chairman and chief executive officer, will serve as host and will review fourth quarter 2006 financial results, which will be released before the opening [...]
The CEOs of Inco Ltd., Phelps Dodge Corp. and takeover target Falconbridge Ltd. stood staunchly behind what they called a winning deal yesterday, despite observers’ view the new bid does not guarantee victory in the heated mining battle.
“In my mind, it clearly is a knockout bid,” Falconbridge CEO Derek Pannell said in an interview.
Falconbridge’s board [...]
Phelps Dodge Corp. raised its bid for Inco Ltd. on Sunday and Inco raised its offer for Falconbridge Ltd., as the companies battled to protect their proposed US$41 billion three-way merger and create the biggest mining company in North America.
The moves, together with news of a special dividend from Falconbridge, are aimed at thwarting a [...]
Phelps Dodge Corp. head Steven Whisler shot back at critics yesterday, insisting his company’s bid to take over Inco Ltd. and Falconbridge Ltd. will have “net benefits” for Canada.
“We think that combining the three companies is actually going to enhance Canada’s position, particularly in nickel,” Mr. Whisler said, responding to concerns.
The chairman and chief executive [...]
ANOTHER day, another astounding twist in the gripping M&A pot-boiler that is Canadian miner Inco’s attempted marriage to its local rival Falconbridge. This time the romance may lead to the birth of a new mining giant.
Weeks before Swiss miner Xstrata’s all-cash bid for Falconbridge was set to go before shareholders, Inco, Falconbridge and Arizona-based copper [...]
What started last fall as a straightforward merger between Sudbury’s two long-time nickel producers threatens to become a sell-off to U.S. interests of a huge chunk of Canada’s mining industry — one of our few industries in which Canadians still call most of the shots.
The proposed $40 billion (U.S.) mega-merger announced yesterday among the Canadian [...]
US mining giant Phelps Dodge announced a mega-takeover deal to buy Canadian rivals Inco and Falconbridge for about 40 billion dollars, forging the world’s largest nickel company and the largest listed copper producer.
The cash-and-stock deal comes as red-hot commodities prices are producing tonnes of cash, spurring consolidation in the mining sector as companies seek to [...]
