Freeport-McMoRan swings to quarterly profit on higher copper prices
Thursday, April 22, 2021 - 17:40:38
Mining Weekly

Benchmark prices for copper, widely used in power and construction, hit a nine-and-a-half year high of $9 617/t on the London Metal Exchange on February 25, within striking distance of the all-time peak of $10 190 set in 2011.

The average price Freeport received for per pound of the metal rose 62% in the quarter, while production increased about 24% to 910-million pounds.

Gold output also jumped over 90% to 297 000 oz. The company posted a net income attributable of $718-million, or 48c a share, for the three months ended March 31, compared with a loss of $491-million, or 34c a share, a year earlier.


http://www.miningnewspro.com/En/News/612242/Freeport-McMoRan swings to quarterly profit on higher copper prices
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