Indonesia approves Freeport’s mining quota for 2024-2026

Indonesia has approved a mining quota for copper miner Freeport Indonesia totalling 219.8 million metric tons of copper ore for the next three years, a mining ministry official said on Tuesday.

Indonesia approves Freeport’s mining quota for 2024-2026

Mining News Pro - Indonesia has approved a mining quota for copper miner Freeport Indonesia totalling 219.8 million metric tons of copper ore for the next three years, a mining ministry official said on Tuesday.

Mitsubishi, Freeport completes copper smelter expansion in Indonesia

Mining News Pro - Indonesian copper smelter operator PT Smelting, a joint venture between Mitsubishi Minerals Corp and PT Freeport Indonesia, inaugurated on Thursday an expansion in capacity of its smelter facility in East Java.

Freeport-McMoRan CEO inducted into National Mining Hall of Fame

Mining News Pro - Freeport-McMoRan (NYSE: FCX) announced Monday that chairman and chief executive officer Richard C. Adkerson has been inducted into the National Mining Hall of Fame in recognition of his contributions to the global mining industry.

Freeport Indonesia will need to slash output in 2024 if not allowed to export concentrate

Mining News Pro - Freeport Indonesia would need to reduce ore production by 40% in 2024 if the copper miner is not allowed to export concentrate before its smelter reaches full operating capacity, CEO Tony Wenas said on Tuesday.

Freeport-McMoRan to slow expansions amid inflation, weak copper prices

Mining News Pro - Copper miner Freeport-McMoRan posted a better-than-expected third-quarter profit on Thursday, but said it would slow expansion plans due to inflation and slumping prices for the red metal used across the global economy.

Freeport-McMoRan beats quarterly profit estimates on production boost

Mining News Pro - Freeport-McMoRan beat Wall Street estimates for third-quarter profit on Thursday and slightly raised its full-year copper sales outlook as it began shipments from Indonesia.

Freeport seeks to extend permit for exporting Indonesian copper

Mining News Pro - Freeport McMoRan Inc. will seek Indonesia’s approval to keep exporting mined copper beyond a May deadline to avoid building up stockpiles of concentrates as it ramps up output at a smelter it’s building at Jakarta’s request.

BHP, Codelco, Freeport vie for title of biggest copper producer

Mining News Pro - There’s a three-way battle underway for the title of the world’s biggest copper producer.

Freeport hit by cyberattack; impact on production limited

Mining News Pro - Freeport-McMoRan Inc. is investigating a cyberattack that has so far had limited impact on production, the copper miner said Friday.

Freeport Indonesia secures copper export permit, plans to contest new export duty

Mining News Pro - Mining giant Freeport has obtained a license to ship copper concentrate from its Indonesian operation until May 2024, but may contest new government rules on export duties.

Freeport’s profit narrowly beats despite production, Indonesia woes

Mining News Pro - A slump in copper production and shipping delays in Indonesia dragged Freeport-McMoRan Inc’s second-quarter profit down by 60%, although results narrowly beat Wall Street’s expectations.

Freeport-McMoRan plans aggressive copper investment in southwest US

Mining News Pro - Freeport-McMoRan plans to invest “aggressively” in copper mines in the southwest US after prices of the metal rose so high that many old operations are now profitable again, CEO Richard Adkerson said at the CERAWeek gathering in Houston, this week.

Mitsubishi Materials, Freeport Indonesia expand copper smelter capacity

Mining News Pro - Indonesia’s PT Smelting, a joint venture between Mitsubishi Materials Corp and Freeport Indonesia, on Saturday launched construction of a 3.2 trillion rupiah ($223 million) expansion of its East Java copper smelting facility.

Rising copper prices boost Freeport-McMoRan profit

Mining News Pro - Copper miner Freeport-McMoRan Inc on Wednesday reported a 56% jump in quarterly profit that matched expectations as supply concerns and the global economic recovery from the pandemic drove up prices of the red metal.

As Freeport converts mining trucks to green power

Mining News Pro - Copper mining giant Freeport-McMoRan Inc is converting its fleet of diesel trucks and other machinery to electric or hydrogen power, a transition required to fight climate change even though the costs are not yet known, Chief Executive Richard Adkerson said in an interview at the Reuters Next conference.

Freeport copper output falls short just as the world needs more of the metal

Mining News Pro - Freeport-McMoRan Inc. produced less copper than expected last quarter from its mines in the Americas, adding to concerns over a drum-tight global market that’s seen prices surge back toward record levels. The stock fell.

Jervois Mining to buy Freeport Cobalt for $160 million

Mining News Pro - Australian miner Jervois Mining said on Tuesday it would buy Finland-based Freeport Cobalt for $160 million in a deal that could make it the second largest cobalt producer outside China.

Freeport-McMoRan profit beats estimates on higher copper prices

Mining News Pro - Freeport-McMoRan Inc beat Wall Street’s expectations for second-quarter earnings on Thursday as the copper producer, one of world’s largest, benefited from higher demand and increased prices for the red metal.

Freeport Indonesia cancels Tsingshan copper smelter plans

Mining News Pro - Freeport McMoRan will not proceed with plans to build a new copper smelter with China’s Tsingshan Holding Group, its local Indonesian unit, PT Freeport Indonesia’s spokesman told Reuters on Thursday.

Freeport-McMoRan swings to quarterly profit on higher copper prices

Mining News Pro - Freeport-McMoRan on Thursday reported a first-quarter profit, compared with a year-ago loss, as the world's largest publicly traded copper producer benefited from higher prices for the red metal from improving global economic recovery prospects.

Combination with Freeport had a lot of logic

Mining News Pro - Barrick Gold Chief Executive Mark Bristow said on Monday that a combination with copper miner Freeport McMoRan “had a lot of logic to it” even though a deal between the companies did not pan out.

Freeport to expand US copper mines as Biden moves to electrify the nation

Mining News Pro - Freeport-McMoRan is set to approve expansions at several of its US copper mines to capitalize on surging demand for the red metal as President Joe Biden moves to electrify the nation’s automobiles and combat climate change, Chief Executive Richard Adkerson told Reuters.

Freeport stock dives as it narrowly beats Q4 estimates

Mining News Pro - Freeport McMoRan posted a quarterly profit on Tuesday that narrowly beat analysts’ estimates on rising production and prices for copper and gold, with executives forecasting continued growth for 2021.

Freeport CEO sees banner years ahead after gains won in ‘battle’

Mining News Pro - With a tumultuous decade almost behind him and the prospect of banner years ahead, the longtime boss of global miner Freeport-McMoRan Inc. has little interest in retiring just as cash looks set to roll in.

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