NEW YORK, March 06, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Freeport-McMoRan Copper & Gold Inc, AMR Corporation, JPMorgan Chase & Co.
The second largest copper miner in the world, Freeport-McMoRan Copper & Gold Inc.(NYSE:FCX), might double the amount of copper concentrate sales to China in the forthcoming three years, the reason for it being the expansion of mined production. The news was confirmed by the company’s senior vice president of marketing and sales, Javier Targhetta.
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According to Targhetta in an interview in Madrid, as far as sales to China are concerned, the amount may increase by the year 2016 to anything between 800,000 to 1 million metric tons. The company’s sales to the biggest buyers of metals in the world have increased by ten times since the year. Copper concentrate that is obtained from mines are processed in cathode and then can be used for pipes as well as wiring. Targhetta was optimistic about the sales in China increasing in the coming three years. As they are increasing the production in their mines, the produce can be utilized in the Chinese market.
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MF Global and its creditors have resolved a dispute with JPMorgan Chase & Co.(NYSE:JPM) over the value of intercompany claims in the bankrupt brokerage's estate.
The court-ordered mediation will enable JPMorgan to recover more.According to the terms of the deal, MF's parent entity will subordinate $275 million of its $1.887 billion claim against MF Global's finance unit below JPMorgan's $1.2 billion claim against the estate.
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Under the initial plan, unsecured creditors of MF's parent would be paid between 13.4 cents and 39 cents per dollar, while creditors of its finance unit would receive between 14.7 cents and 34 cents on the dollar.
Creditors have to vote on the plan before March 25, after which it will go before a U.S. bankruptcy judge for a final approval hearing.
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