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Gold/Mining/Energy : Manhattan Minerals (MAN.T)
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To: Claude Cormier who wrote (2726)6/30/1999 11:45:00 AM
From: mineman  Read Replies (1) of 4504
 
Batu Hijau, Indonesia: Newmont and Sumitomo were only able to make a production decision for this immense 200,000 ton/day mine ($2 Billion U.S.) that sits at tide-water and will start producing later this year because they were able to sell forward 12 years copper supply at $1.25 a pound 3 years ago!!

With copper at $.70/pound Manhattan and any potential backers will not be able to sell forward for higher prices and the project will be unfundable!

And Batu Hijau is just one of 3 immense projects scheduled to start production in the next 3 years that will add to copper over-supplies and keep prices depressed!
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