Freeport invests heavily to mitigate the risk of tailing dams

SMM, Feb. 26: Freeport-McMoRan CEO Richard Adkerson said Monday that the company has been investing heavily to mitigate any danger to the tailing dam and is "satisfied" with the engineering design of the existing dam.

A month ago, a Brazilian tailing dam owned by rival Vale collapsed, killing more than 300 people.

Freeport-McMoRan said at the end of January that copper prices would rise in the next few years and expected prices to be $3.30 a pound, or 20 per cent higher than current spot prices.

"unless there is a major economic disaster in China and the rest of the world, you will see very high copper prices," Richard Adkerson said at its fourth-quarter results conference. "