Tenke Mining Receives Construction Approval From Phelps Dodge

This is what was discussed here "as fireworks" and Bull Market: Tenke Mining broke through previous MAY Top, new highs to come now...

"The initial project will focus on 103 million metric tons of oxide ore reserves. It is expected to be in full production in late 2008 or early 2009. During the first 10 years of mining, total annual production is projected to be approximately 250 million pounds of copper and 18 million pounds of cobalt. The life of the initial project is anticipated to be approximately 40 years." (!)

Few things to consider:

- PhD has approved construction meaning financing without further feasibility study release;

- if Freeport-McMoRan's Acquisition of Phelps Dodge will go as expected they are "told to be" even more aggressive;

-only half of the property explored, BHP was talking about ... 1.5 billion ton resource with Cu grade 3.0%, in all calculations for TNK.to TP and their presentation accounted "only" 500 million tons;

-no Argentinean projects' value in this current price, action to be taken by management to unlock that value...

http://biz.yahoo.com/ccn/061206/200612060362078001.html?.v=1&printer=1