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.

China Moly buys 95% of DRC copper/cobalt mine from Freeport for $550m

Mining News Pro - China Molybdenum said on Sunday it had acquired a 95% stake in the Kisanfu copper/cobalt mine in the Democratic Republic of Congo (DRC) from US-based Freeport-McMoRan Inc for $550-million.

China Moly buys 95% of DRC copper/cobalt mine from Freeport for $550m

Mining News Pro - China Molybdenum said on Sunday it had acquired a 95% stake in the Kisanfu copper/cobalt mine in the Democratic Republic of Congo (DRC) from US-based Freeport-McMoRan Inc for $550-million.

Freeport-McMoRan posts Q3 profit boosted by gold prices

Mining News Pro - Freeport McMoRan beat analysts’ estimates for third-quarter profit, as the miner benefited from higher gold prices due to the covid-19 pandemic and cost cuts.

Freeport does a balancing act as world`s biggest gold mine grapples with Covid-19

Mining News Pro - When miners at Indonesia`s giant Grasberg gold and copper mine started testing positive for coronavirus early in the pandemic, the mountain-top mining complex was quickly locked down with a skeletal staff left in place to maintain production.

Freeport’s Grasberg go-go days back as gold, copper prices rally

Mining News Pro - Phoenix-based Freeport McMoRan’s iconic Grasberg mine in the Papua province of Indonesia will become an entirely underground operation in a little over a year – nearly doubling copper and gold output in the process.

Freeport’s Adkerson elected ICMM chair

Mining News Pro - Richard Adkerson, president, CEO and vice-chairperson of US-based miner Freeport McMoRan, has been elected chairperson of the International Council on Mining and Metals (ICMM).

Freeport Indonesia workers end protest at Grasberg

Mining News Pro - Workers at Indonesia’s Grasberg gold and copper mine on Friday ended a protest demanding an easing of a coronavirus lockdown at the mine operated by a local unit of Freeport-McMoran Inc, a workers’ representative and the company said.

Workers bar access to Freeport Indonesia’s Grasberg mine

Mining News Pro - More than a thousand mine workers in Indonesia blocked access to the Grasberg gold and copper mine operated by the local unit of Freeport-McMoRan Inc on Monday to protest a coronavirus lockdown policy that halted bus services to meet with families.

Freeport-McMoRan names new president, COO–Americas

Mining News Pro - US base metals miner Freeport-McMoRan on Friday announced the appointment of Josh Olmsted as president and COO – Americas to succeed Harry ‘Red’ Conger upon his retirement.

Indonesia to ask Freeport to build copper smelter

Mining News Pro - The Indonesian government will ask PT Freeport Indonesia to build a copper smelter in Weda Bay, a newly built metal industrial park in Halmahera, the senior minister overseeing mining said on Friday.

Freeport cuts workforce at Grasberg mine due to coronavirus spread

Mining News Pro - Freeport-McMoRan`s Indonesian unit said it will operate the giant Grasberg mine with a "skeletal team" after a rise in coronavirus infections in the area, including at the mine workers` living quarters, and three deaths.

Freeport’s El Abra mine in Chile to scale back processing

Mining News Pro - Freeport’s El Abra copper mine in Chile said on Monday it would scale back copper processing by 40% and lay off workers as global prices for the red metal plunge amid the coronavirus pandemic.

Freeport-McMoRan closes New Mexico mine as coronavirus cases spread

Mining News Pro - Freeport-McMoRan said on Sunday it has suspended operations at its Chino copper mine in New Mexico indefinitely because of the spread of Covid-19, the respiratory disease caused by the new coronavirus, among the site`s workers.

Freeport confirms New Mexico workers have coronavirus

Mining News Pro - Freeport-McMoRan Inc said three employees at its Chino copper mine in New Mexico have tested positive for COVID-19, confirming earlier reports from state officials.

Freeport-McMoRan in talks to allow limited operations at Peru’s Cerro Verde mine

Mining News Pro - Freeport-McMoRan Inc said on Thursday it was in talks with the Peruvian government to conduct limited operations at its giant Cerro Verde mine after the country extended a national emergency due to the coronavirus outbreak to April 12.

Freeport to cut dividend and slash costs as coronavirus spreads

Mining News Pro - Freeport-McMoRan Inc, the world’s largest publicly traded copper producer, said on Monday it will stop dividend payouts and slash costs and output due to the rapid worldwide spread of the coronavirus pandemic.

Freeport halts Cerro Verde over Covid-19

Mining News Pro - Freeport-McMoRan announced on Tuesday that it has put its Cerro Verde mine in Peru on care and maintenance for 15 days in response to measures taken by the Peruvian government to contain the Covid-19 outbreak.

Freeport to grow copper, gold volumes by up to 40%

Mining News Pro - Freeport-McMoRan announced on Monday that it will grow its copper and gold volumes by 30 to 40%.

Freeport sues Peru gov’t over royalty payments

Mining News Pro - Freeport McMoran’s majority owned Cerro Verde copper mine in Peru, the country’s largest, is taking the government to the World Bank’s international court to solve a long-dragged out dispute over unpaid royalties.

Barrick CEO sees no competition in his bid for Freeport’s Grasberg mine

Mining News Pro - Barrick Gold Corp Chief Executive Mark Bristow on Wednesday said he sees no competition from rivals in his pursuit of Freeport-McMoran Inc’s Grasberg copper-gold mine in Indonesia but cautioned any deal for the asset would take time to pull off.

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