<!--StartFragment -->   | Latest News |  |
| DJ Phelps Dodge Gets Kosovo Copper, Gold Exploration License |
LONDON, Nov 23, 2005 (Dow Jones Commodities News via Comtex) -- The MiningBoard of the Serbian province of Kosovo has granted U.S. copper miner PhelpsDodge (PD) licenses for copper and gold exploration, a Phelps Dodge explorationofficer said Wednesday."This is grassroots exploration but we expect favorable geology as currentlywe're exploring similar prospects in Macedonia and Serbia for copper and gold,"Generative Exploration Manager Mac Canby said on the sidelines of the Mines andMoney Conference in London."If an economic find of substantial size is made, Phelps Dodge would be preparedto invest in a major mine, which could have an investment volume of EUR500million," Rainer Hengstmann of the U.N. Independent Commission for Mines andMinerals said.Since the North Atlantic Treaty Organization bombing campaign in 1999, the U.N.has effectively run the province and is stepping up efforts to privatizeexisting mining facilities while pushing for exploration investment as a majorcontributor to economic development.Kosovo is one of the poorest regions in Europe with unemployment estimated at30%-50%.-By Elisabeth Behrmann; Dow Jones Newswires; +44 (0)20 7842 9412;elisabeth.behrmann@dowjones.com(END) Dow Jones Newswires11-23-05 0846ETCopyright (c) 2005 Dow Jones & Company, Inc.**************************************************As of Saturday, 11-19-2005 23:59, the latest Comtex SmarTrend(SM) Alert,an automated pattern recognition system, indicated an UPTREND on10-25-2005 for PD @ $128.25.(C) 2005 Comtex News Network, Inc. All rights reserved. |
|
