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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (89185)8/31/2002 2:05:41 PM
From: goldsheet  Read Replies (1) | Respond to of 116753
 
Freeport has always had problems in Indonesia, which always seem to get resolved. Although primarily a copper mine, it does have 50 million ounces of gold reserves that have been coming out at an average rate of 2.5moz annually, so you can start worrying around 2022. Current impacy should be minimal, Indonesia needs the hard currency provided from metal exports and has historically sent military troops in to protect the mine.

P.S. One would really need to check the copper reserves and production for a more accurate mine life.



To: long-gone who wrote (89185)8/31/2002 7:45:08 PM
From: goldsheet  Respond to of 116753
 
Freeport is pulling 1.5 billion pounds out copper production out of their 35.7 billion pounds of reserves. indicating about another 24 years of gold and silver byproduct production.


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