Last week, Freeport McMoRan reported quarterly profit, slightly higher than analysts had expected for copper and gold production and prices to rise. Executives expect to continue to grow in 2021, saying production will continue to grow this year, which could allow the company to return to the dividend it cut last year. "the outlook for copper fundamentals is better today than it was 10 years ago," said Richard Adkerson, chief executive of Freeport.
Freeport's fourth-quarter copper production rose to 864 million pounds, up 4.5% from 827 million pounds in the same period last year, while gold production climbed to 273000 ounces, up 22.4% from 223000 ounces in the same period last year. Spending fell 11.2 per cent to $2.79 billion, thanks to a cost-saving plan announced last year.
