Freeport may cut Americas copper, molybdenum output after review

Freeport-McMoran may reduce copper and molybdenum production in the Americas once it completes a review of its operations to target cost and capital expenditure cuts amid the novel coronavirus (2019-nCoV) pandemic, the company said.

The company expects to complete the review promptly and will report its revised operating and financial plans with its first-quarter results in April, it said.
Freeport-McMoran operates two copper mines in South America – Cerro Verde in Peru and El Abra in Chile. The Cerro Verde mine also produces molybdenum concentrate and silver. Combined production at these operations was roughly 535,000 tonnes last year.
The company put Cerro Verde, in which it has a 53.56% stake, on care and maintenance for a 15-day period from Monday March 16.

A number of mining...

Published

Andrea Hotter

March 23, 2020

13:44 GMT

New York