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Gold/Mining/Energy : Copper - analysis

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To: LoneClone who wrote (1613)	2/23/2007 10:55:51 AM
From: LoneClone	of 2131

Freeport CEO: No more copper hedging Source: Purchasing metalsplace.com When Freeport-McMoRan completes its expected $25.9 billion acquisition of Phelps Dodge next month, the company will put an end to Phelps Dodge's policy of hedging on copper prices. "We have no intentions to hedge copper," Freeport CEO Richard Adkerson told in an interview. He added that the company would honor Phelps' existing contracts through the end of 2007 but "You should not expect the new Freeport to sell copper forward or sell options or take steps to limit the upside of copper."

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