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Strong copper price boosts Phelps' Q2 profit

THE world's second-largest copper miner Phelps Dodge has managed to post a net profit of $US471.7 million ($A620 million) for the June quarter and cash in on the healthy copper price, despite being hit with substantial after-tax charges.

Ben Sharples
Strong copper price boosts Phelps' Q2 profit

Phelps said its net income was “negatively impacted” by after-tax charges of $514.6 million for mark-to-market accounting adjustments on 2006 and 2007 copper collars and copper put options that do not...

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