In the first part of our series, we looked briefly at the Wall Street performance of copper companies. Copper prices are a key driver for copper producers including Southern Copper (SCCO) and Anglo American (AAUKY). Freeport-McMoRan (FCX) expects its EBITDA (earnings before interest, taxes, depreciation, and amortization) to fall by $500 million for every $0.10 per pound decline in copper prices. The reverse is true when copper prices go up. Freeport currently forms 3.41% of the iShares U.S. Basic Materials ETF (IYM) and 3.11% of the Materials Select Sector SPDR ETF (XLB). Newmont Mining (NEM) forms 1.91% of XLB.