Phelps Dodge ups capital spend

RISING demand for copper has prompted Phelps Dodge to more than double its capital budget from the US$102 million spent in 2003 to US$275 million for 2004.

Phelps Dodge ups capital spend Phelps Dodge ups capital spend Phelps Dodge ups capital spend Phelps Dodge ups capital spend Phelps Dodge ups capital spend

The company said in its annual report that the bulk of the new spending would go to the mining division, Phelps Dodge Mining Co, with the balance to an industrial unit and a smaller amount earmarked

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