Exclusive-Grupo Mexico's Asarco to reopen U.S. copper smelter amid surging prices [Yahoo! Finance]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Yahoo! Finance
restart its mothballed copper smelter in the United States as prices for the red metal hit record highs, two sources with direct knowledge of the company's plans told Reuters. Asarco, first bought by Grupo Mexico in 1999, is in negotiations with unionized workers to restart the Hayden smelter in Arizona and nearby copper mines, as well as the Amarillo refinery in Texas, the sources said. Reopening Hayden would boost supply of the key red metal across the country - which uses twice the amount of refined copper it produces because it only has two domestic smelters: Freeport McMoRan's's Miami smelter in Arizona and Rio Tinto's Kennecott smelter in Utah. The sources said recent copper price rallies motivated Asarco to restart Hayden given an acute need for copper smelting in the United States. Mexico City-based Grupo Mexico declined to comment. Copper demand is expected to grow steadily in coming years, fueled largely by the global clean energy transition and the rising use of a
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- 6/12/24 - Form 8-K
- 6/4/24 - Form 4
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