According to SMM, Freepore-McMoRan, a copper miner, released its third

Published: Oct 20, 2023 15:02

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According to SMM, Freepore-McMoRan, a copper miner, released its third-quarter performance, with a net profit of $454 million, or 31 cents per share, compared with $404 million, or 28 cents per share, a year earlier. Kathleen Quirk, president of Freeport, said: "Recent (copper) prices have been weak, coupled with the rising capital costs of developing new mines, making the viability of new projects more difficult, which is crucial for the future." Due to inflation and global copper prices falling, the company will slow down its expansion plans.

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