Monday, November 20, 2006

Tenke mining Update on Tenke Fungurume Project

"Final feasibility study, environmental impact assessment work and implementation of local social programs have progressed significantly over the past quarter. In addition, significant pre-construction activities have advanced on site to maintain a target of first copper cathode production at Tenke Fungurume towards the end of 2008."

"The potential acquisition of Phelps Dodge by Freeport-McMoRan Copper & Gold, Inc. ("Freeport") announced today is expected to be very positive for the project. Freeport successfully pioneered the enormous Ertsberg/Grasberg mine in a remote region in Papua, Indonesia (formerly Irian Jaya), mastering the technical, political and geographic challenges at Grasberg to make it one of the largest, most successful copper/gold mines in the world."

Stock Price of Tenke Agrees with it.

http://biz.yahoo.com/ccn/061120/200611200358881001.html?.v=1&printer=1

No comments: