Near-mine communities up in arms against Freeport McMoRan’s DRC unit

Communities living near the new $2-billion Fungurume copper/cobalt mine, in the Democratic Republic of Congo (DRC), are up in arms against the gigantic mine’s developer, which they accuse of not delivering on its pledge to create substantial...

Tenke Fungurume Phase 2 expansion project, Democratic Republic of Congo

The Freeport-McMoRan Copper & Gold board has approved the undertaking of the second phase of the Tenke Fungurume project.

Freeport replaces CEO at Indonesian unit after strike

Freeport-McMoRan Copper & Gold's will appoint a new chief executive at its Indonesian unit, the Arizona-based miner said on Friday, as it looks to turn the page after it made an agreement last month to end a crippling three-month strike. Rozik...

Freeport Q4 earnings drop 57%, copper supply 'tight', says CEO

Freeport-McMoRan Copper & Gold said on Thursday it made a $640-million profit in the fourth quarter of 2011, a 57% drop from the same period last year as strikes and lower copper prices hit earnings. While industrial action at its Peru and...

Company Announcement: ICMM welcomes Chilean copper producer Codelco as its latest member

ICMM is delighted to welcome Codelco – Corporación Nacional del Cobre de Chile – as its latest member company. Diego Hernández took part in his first meeting of ICMM’s Council of CEOs in London today.

Lundin's Conibear running the firm as though permanent CEO

Lunding Mining interim CEO Paul Conibear said on Wednesday he was running the company as though he was permanently in the post, though the board had yet to appoint a permanent CEO. The TSX-listed copper and zinc producer said in May it would not...

Lundin cuts 2011 guidance for copper, zinc output

Shares in Toronto-based Lundin Mining fell on Friday morning, after the company lowered its production forecasts for copper and zinc in 2011, citing weaker-than-expected second-quarter output at the Neves Corvo mine in Portugal. Lundin now...

Freeport more than doubles Q2 earnings on higher output, prices

Freeport-McMoRan Copper & Gold increased second-quarter profit by 111%, after copper and gold prices rose, costs declined and the company produced and sold more of both metals. Freeport earned $1.37-billion in the quarter, compared with...

Freeport Indonesia copper mine strike to continue next wk

A strike paralysing output at Freeport Indonesia's Grasberg mine, one of the world's biggest sources of copper and gold, will extend into a second week after talks between the firm and workers broke down, a union official said on Friday. The...

Freeport studies projects with potential to add 1bn lb/y copper by 2016

Freeport-McMoRan Copper & Gold, the biggest publicly traded copper producer, is evaluating three expansion projects that could increase copper production by around one-billion pounds a year by 2016, CFO Kathleen Quirk said on Wednesday. Together,...

Lundin profit up 37%

Base-metals producer Lundin Mining earned $71,2-million in the first quarter, 37% higher than a year earlier, after metals prices rose and the company increased production of copper, zinc and lead. Revenue rose 49% year-on-year, to $211,5-million,...

Lundin shares jump on Chinese bid report

Shares in Lundin Mining were up 10% on Friday morning, after a Canadian newspaper reported that a Chinese-led consortium was preparing a takeover bid for the base-metals producer. A group led by Jinchuan Group and including sovereign wealth fund...