No 1 source of global mining news and opinion
US copper giant Freeport-McMoRan Inc. believes it can unlock the equivalent of a large new mine by applying new processing technology at its existing assets, according to new chief executive officer Kathleen Quirk.
The new CEO takes the helm of a company that is riding high. Freeport is one of the largest producers of copper at a time when investors are piling into the market to position for future shortages — helping to drive prices to a record in recent weeks — while western governments are focused on securing supply of critical metals. The company’s shares have risen 30% over the past year, outpacing a 17% increase in copper futures.
“I’m really focused on this issue, because when we look around, we know how hard it is to develop new supply,” said Quirk in an interview in New York, referring to the company’s copper leaching program. “You think about 800 million pounds of copper a year — that’s the size of a big mine. That’s meaningful. Our team is working very aggressively to get that done.
“You’re looking at this situation with the market being so tight, and there are not obvious actionable projects that can fill that gap,” Quirk said. “That situation is causing us to be more innovative — to figure out how to help fill this gap.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Freeport Rescue: US Coast Guard rescues 4 boaters near FreeportFour boaters are safe after being rescued by U.S. Coast Guard members near Freeport on Monday.
Lire la suite »
Io.net CEO Ahmad Shadid steps down from CEO role days before token launchThe decentralized infrastructure provider has faced questions from critics in recent months regarding the veracity of its reported metrics.
Lire la suite »
Freeport enters earn-in on Max Resource’s Cesar project in ColombiaNo 1 source of global mining news and opinion
Lire la suite »
Freeport police appoint first Black assistant chief in department historyThe Freeport Police Department now has its first Black assistant chief in the department's history.
Lire la suite »
Johnson Memorial Health CEO says recovery from cyberattack continues more than 2 years laterA Johnson County hospital is still recovering from such an attack last year.
Lire la suite »
LayerZero Labs CEO says up to 100,000 addresses have self-reported as airdrop sybilsLayerZero Labs CEO Bryan Pellegrino said that up to 100,000 addresses have self-reported themselves as airdrop sybils.
Lire la suite »