ASARCO offering 17 summer internships

ASARCO has announced the copper mining company is offering 17 internships for college students in summer 2018. It is now taking applications for intern positions at the following mining operations in various fields:

Hayden in Southern Gila County has four internships available. They are in electrical engineering, metallurgical/chemical engineering, mechanical engineering, industrial/safety/environmental engineering, and metallurgical/chemical/engineering.

Ray, near Kearny, has three internships available. They are in geology, quality control lab chemist and mine engineering.

Silver Bell Mine near Marana has four internships available They are in geology, metallurgical engineering, mine engineering and chemical engineering.

Mission Mine southwest of Tucson has six summer internships available. They are in geological engineering, two positions in mechanical engineering, mine engineering, safety engineering, and metallurgical engineering.

Further information can be obtained from the company webpage at

In addition, the company has announced two openings it plans to fill immediately for student workers. One is at the Hayden operations and the other is at the Silver Bell Mine.

Freeport to release latest financial results

Phoenix based Freeport-McMoRan, Inc. has announced it will release its first quarter 2018 financial results on Tuesday, April 24 before the Wall Street markets open.

In its annual report for the year 2017, Freeport told stockholders it had a profit of $1.8 billion for the year, which included a fourth quarter profit of $ 1 billion.

The company said the cost for producing copper at all of its operations averaged $1.20 a pound for the year and it was anticipated this production cost would be reduced to 97 cents per pound this year. Average price realized for the sale of a pound of copper jumped during the fourth quarter of last year went to $3.15 a pound. Cashflow for last year was $4.7 billion, which included $l.7 billion in the fourth quarter of 2017.

Consolidated debt for Freeport-McMoRan, Inc. since it reported at $20.4 billion in 2015 has been dropping since. For last year 2017, stockholders were told the company’s debt had been reduced to $13.1 billion.

Several years ago, the company’s stock was in the range of $8 dollars a share. However in the first quarter of 2018 it had been as high as $20 a share until it recently dropped to the $17 a share range apparently on trade-war fears with China, the world’s largest user of copper

On March 28, Freeport-McMoRan’s board of directors declared a cash dividend of 5 cents per share of common stock payable on May 1, 2018 to stockholders of record as of April. Last week, Freeport-McMoRan’s Board of Directors declared a cash dividend of 5 cents per share of common stock payable on May 1, 2018 to stockholders of record as of April 13.

Another loss for Copper Fox

Copper Fox Metals of Calgary, Alberta, Canada has reported another loss in its latest financial report.

The company owns the Van Dyke copper deposit under the town of Miami which includes ownership of 1,000 acres of mineral rights in around and under the town.

On March 29, the company announced its latest 3-month report for the period ending Jan. 31, 2018. Copper Fox Metals had a loss of $213,774 (Canadian dollars), and for the same three months the company incurred $28,400 (Canadian) in expenditures in the development of its Schaft Creek property, its Van Dyke deposit (Miami, Arizona), along with its Sombrero Butte and Mineral Mountain Projects.

As of Jan. 31 2018, Copper Fox Metals told investors it had $92,737 (Canadian) in cash on hand. However, there was nothing more said to shareholders about it local mining property at Miami,

When it recently released its financial results for the year ending Oct. 31, 2017 on Feb. 26, 2018 stockholders were told the company had suffered a loss of $1,643,630 (Canadian).

The Canadian mining company also announced it was shifting its focus from its United States projects to Canadian projects primarily because of current unfavorable U.S. to Canada exchange rates.

Earlier the firm had announced the suspension of work on its Van Dyke project at Miami, pending the outcome of discussions with a third party to gain access to a proposed site needed for Copper Fox’s in situ leach test project.

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