Freeport McMoRan Copper & Gold, Inc. (FMCG), the world's largest producers of copper, gold & molybdenum, has had an excellent second quarter. Earnings have practically doubled based on soaring metal prices and sales growth in double digits. The company posted a net profit of $1.37 billion.
Macarthur Coal Ltd refused an unsolicited $5.2 billion bid from a pair of industrial giants over the weekend. Peabody Energy Corp and ArcelorMittal had offered a 40% premium over the current stock market value for Macarthur Coal.
Grizzly Discoveries has filed for a permit to acquire a new industrial and metallic mineral in Alberta enclosing around 4,672 ha to increase its present land assets of over 2.4 million acres for the Alberta potash project. The location of the permit is 67 km northeast of the Medicine Hat City along the Saskatchewan boundary.
AMEX Exploration has received all the essential license and permits for the drilling program at the Nueva Escondida property.
The rescue of 33 miners trapped in an underground mine in Chile is now going to hit the big screen. Producer Mike Medavoy maker of the Black Swan and his company Phoenix Pictures have come to an agreement with the miners to turn their ordeal into a motion picture.
The New South Wales Minerals Council said that the health and safety of miners could be in jeopardy without harmonized Occupational Health and Safety (OHS) regulations. The chief executive of the NSW Minerals Council, Nikki Williams made the statement at the largest OHS conference which hosted over 500 people.
In Queensland a Wagyû cattle breeding farm is to be sold to Xstrata. The Swiss mining giant is buying the 17,474 hectare pastoral farm from the Australian Agricultural Company. The deal has been struck for $21.6 million and the farm is to be sold minus the cattle and machinery.
A Deloitte Access Economics report said that the Reserve Bank of Australia (RBA) would increase interest rates three times over the coming year. This will be in response to rising wages that go along with the mining boom that will help lift the economy out of the slump that it went into following natural disasters.
Newcrest Mining had good news to share in its quarterly gold production report. The fourth quarter production of Australia’s biggest gold producer has rebounded 16% despite the problems being faced at its Hidden Valley and Lihir Mines.
OZ Minerals has confirmed a $200 million share buyback after announcing high copper and gold production from the Prominent Hill mine. The buyback is to take place after August 17, 2011 once the half year financial results are announced.
Terms
While we only use edited and approved content for Azthena
answers, it may on occasions provide incorrect responses.
Please confirm any data provided with the related suppliers or
authors. We do not provide medical advice, if you search for
medical information you must always consult a medical
professional before acting on any information provided.
Your questions, but not your email details will be shared with
OpenAI and retained for 30 days in accordance with their
privacy principles.
Please do not ask questions that use sensitive or confidential
information.
Read the full Terms & Conditions.