Freeport CEO 'encouraged' after talk with Peru's Castillo [Reuters]
Freeport-McMoRan, Inc. (FCX)
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Source: Reuters
REUTERS/Rodrigo Garrido (Reuters) -Freeport-McMoRan Inc Chief Executive Richard Adkerson said on Friday he was encouraged by a recent conversation with Peruvian President Pedro Castillo about taxation and corruption in the world's second-largest copper producing country. Castillo, a member of a Marxist-Leninist party, swept into office last summer on promises to increase mining industry taxes here . He has also hinted at nationalizing Peru's natural gas sector, a key mining industry supplier. Adkerson said he and Castillo held a “listening session” as part of last month's United Nations General Assembly. While the two did not discuss specific policies, Adkerson said he advised Castillo to fight corruption and also craft a tax regime that allows mining companies to remain in the country. “We're very concerned about the political situation that's emerged in Peru. What we are doing is to see if we can find a way to work forward cooperatively,” Adkerson told an FT mining conferenc
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