Morenci is an open-pit, copper mine located in Arizona. In 2015, FCX’s 85 percent share of Morenci revenues totaled $2.2 billion and production and delivery costs totaled $1.5 billion.
The surge in the gold price last week has not resulted in increased buying of the precious metal by the world's two biggest gold clients: China and India.
Taseko Mines Ltd. (TSX: TKO) is suing the federal government in B.C. Supreme Court and seeking unspecified compensation for a 2014 decision that blocked development of a proposed $1.5 billion gold and copper deposit.
It was mushrooms that brought Shawn Ryan to the Yukon, but gold that secured his fortune and reputation. Specifically, soil sampling leading to the discovery of gold, millions of ounces of it.