An unusually large dark pool trade was detected in $FLR stock on September 12, 2022. The dark pool order looks like buying because of how $FLR stock rose immediately after the print.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
Fluor Announces First Copper from Anglo American’s Quellaveco Mining Project in Peru
On August 23, 2022, Fluor announced that first production of copper concentrate has been achieved at Anglo American’s Quellaveco project in Peru.
The first production of copper concentrate marks the beginning of testing the processing plant with ore and the ramping up of mining activities to demonstrate readiness for operations.
“This is a major milestone for Anglo American and its partner Mitsubishi Corporation as the project nears completion ahead of receiving final regulatory clearance for commercial operations to begin,” said Tony Morgan, president of Fluor’s Mining & Metals business. “As execution partners for this mega-project—a state-of-the-art, world-class facility—we are proud to serve as members of the team that helped produce copper in fewer than 4 years after the project was approved.
“The project was delivered on time and on budget during a global pandemic through the commitment and collaboration of many companies using a one-team approach that was supported by many local and regional companies,” Morgan said.
Quellaveco is one of the five largest copper deposits in the world, located more than 3,000 meters (9,842 ft.) above sea level in the Moquegua region of southern Peru. When completed, the open pit mine will process 140,500 short tons (127,500 metric tons) per day of ore via conventional crushing, grinding and flotation technology to produce 330,500 short tons (300,000 metric tons) of copper equivalent on average per year over the first 10 years of operations.
The mine will increase Peru’s copper production by approximately 10 percent and will provide 2,500 direct jobs while including local suppliers in the supply chain.
Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years.
📈 Fluor $FLR Chart Technical Analysis
Flour $FLR stock is in a technical uptrend. Long term indicators support a continuation of the uptrend. The stock is range trading within a large triangle pattern.