What does Freeport-McMoRan produce?
What does Freeport-McMoRan produce?
About Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
What metals does Freeport mine?
Freeport is the world’s largest producer of molybdenum, and one of the largest producers of copper. In 2019, 79% of its revenues were from the sale of copper, 11% were from the sale of gold, and 8% were from the sale of molybdenum.
Where are Freeport-McMoRan copper mines?
In North America, FCX operates seven open-pit copper mines — Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico; and two molybdenum mines — Henderson and Climax in Colorado.
Is Freeport-McMoRan being sold?
(NYSE: FCX) announced today that it has entered into a definitive agreement to sell a 13 percent ownership interest in its Morenci unincorporated joint venture to Sumitomo Metal Mining Co., Ltd. (SMM) for $1.0 billion in cash.
Is Freeport-McMoRan a good investment?
However, Freeport-McMoRan’s relatively strong position — significant producing assets in the U.S. and Indonesia and expansion opportunities — puts it in a relatively stronger position. In short, the outlook for copper prices is good, and Freeport-McMoRan stands well placed to benefit due to its production capability.
What is the largest copper mine in Arizona?
the Morenci Mine
With an annual production of between 700 and 850 million pounds of copper, the Morenci Mine is the largest copper mine in Arizona.
Will copper prices go down in 2022?
Meanwhile, Fitch Solutions has revised its copper price forecast for 2022 from US$8,500 up to US$9,500, with prices expected to average US$7,000 long term. “Copper is the only commodity where we increased our long-term assumptions due its use in electrification,” the firm’s analysts said.
Will FCX stock go up?
The 21 analysts offering 12-month price forecasts for Freeport-McMoRan Inc have a median target of 50.00, with a high estimate of 65.00 and a low estimate of 29.00. The median estimate represents a +20.95% increase from the last price of 41.34.
Does Freeport-McMoRan have mines in Chile?
FCX operates two copper mines in South America ― Cerro Verde in Peru and El Abra in Chile. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver.
Who owns the largest copper mine in the US?
Freeport-McMoRan
Leading copper-producing mines
| Rank | Mine | Owner |
|---|---|---|
| 1 | Morenci | Freeport-McMoRan (72%), Sumitomo Group (28%) |
| 2 | Bingham Canyon | Rio Tinto |
| 3 | Bagdad | Freeport-McMoRan |
| 4 | El Chino | Freeport-McMoRan |
Where is the largest copper mine in the USA?
Leading U.S. copper mines based on production volume 2020 The largest copper mine in the United States as of 2020 was the Morenci Mine, located in Greenlee, Arizona. The Morenci Mine produced some 445,400 metric tons of copper that year.
