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Stock impact report

South American politics turning against copper mining, Freeport CEO says [Seeking Alpha]

Freeport-McMoRan, Inc. (FCX) 
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am Check Earnings Report
Company Research Source: Seeking Alpha
South American politics turning against copper mining, Freeport CEO saysJan. 26, 2022 8:08 PM ETFreeport-McMoRan Inc. (FCX)By: Carl SurranSA News Editor11 CommentsSimoneN/iStock via Getty ImagesCopper demand fundamentals remain bullish but the supply outlook is more concerning, as political developments in South America areturning against copper miners, Freeport McMoRan-3.0%CEO Rich Adkerson says.Chile and Peru account for ~40% of global copper supply, but both countries are considering tax increases and stricter environmental and community rules, and Freeport is deferring a decision on a major project in Chile until it receives political clarify, Adkerson said on today'searnings conference callNoting that even the U.S. is growing more reluctant to approve new mines, "that's just the reality around the world today," the CEO said.But Freeport is well positioned for growth by expanding existing operations, Adkerson said, justifying the company's plan toboost 2022 c Show less Read more
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