We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Risky caution

27 July 2006 By Edward Hadas

It s tough being the loser in a zerosum game. Ask Phelps Dodge. The US miner has had to take a $1.1bn charge on a copper hedging programme. For a producer like Phelps, it s only lost profits not cash losses. But there s a serious lesson: risk reduction is a risky business.

This content is for Subscribers only


Email a friend

Please complete the form below.

Required fields *


(Separate multiple email addresses with commas)