Issues of concern to people who live in the west: property rights, water rights, endangered species, livestock grazing, energy production, wilderness and western agriculture. Plus a few items on western history, western literature and the sport of rodeo... Frank DuBois served as the NM Secretary of Agriculture from 1988 to 2003. DuBois is a former legislative assistant to a U.S. Senator, a Deputy Assistant Secretary of Interior, and is the founder of the DuBois Rodeo Scholarship.
Wednesday, December 09, 2015
Closure of Sierrita mine near Tucson confirmed
Hurt by falling oil prices, Freeport-McMoRan said Wednesday that it won't pay an annual dividend this year and will make more spending cuts. It will also shut down a copper mine in Arizona, cutting about 450 jobs.
Shares of Freeport-McMoRan jumped more than 8 percent in midday trading.
To combat weaker demand for oil, the Phoenix-based company had announced plans to reduce spending earlier this year. It also said in October that it is considering selling its oil and gas business, or finding another alternative, so it could focus on its copper mining business. Freeport-McMoRan said it will close its Sierrita mine south of Tucson, and is considering selling minority interests in certain mining assets.
The company said that ending its 20 cent per share yearly dividend will save it about $240 million a year...more
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