well you have to figure that 1.2b of that was going to buy asarco. that leaves 2.8b. now figure that they are investing enough to more than double thier alumina smelter and refining output by mid 2010. then consider that they are expanding the copper output and building two big powerplants that will generate over 4000 megawatts. considering all of that i would say that most of thier money is spoken for. also quality companies dont do much buying back of thier own shares. they realize that the money they have is for adding shareholder value buy either expanding the revenue capabilities with it or just holding it. does it really add shareholder value if they own shares in thier own company. if the stock falls the shareholder value falls. look at aapl and xom. they both have an obsurd amount of cash but they use the cash to expand the company not expand the company share control. if you look into how much alumina expansion they are doing it will actually make them a bigger alumina producer than a copper producer. although copper will still be thier main operation.
if your wondering why there is no info on the ceo or president buying shares its because this stock is actually base traded on the bombay exchange and not all info makes it over here.
yeah the risk of scam is possible with any company. even the most trust worthy like xom,wmt,mcd. never know maybe they are fibbing. we basicly have to invest and assume that they are truthful. i feel confident that they are not lieing because they are owned by the london based company ved.l and they are one of they biggest miners in the world so we can figure that they are kept in line.