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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (251)	1/28/2001 3:42:59 PM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Just read the Haywood comments and I agree with their overall view. I would much rather own first Quantum than AUR in the rising copper price scenario as AUR has hedged much of its production at 85c whereas FM has not. Also I'm not in agreement about copper scrap. China has imported over 2.4 million tonnes in 2000 and I don't think that there is that much left lying about the world. China has also imported 553,000 tonnes of refined copper and 1.7 million tonnes of concentrate. My source for this is a Salomon Smith Barney report from Australia dated 24 Jan 2001.