Freeport-McMoRan Sees Profits Again after Copper Prices Offset Lower Production Volumes
SUGAR LAND--July 27, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Freeport-McMoRan Incorporated (NYSE:FCX) (Phoenix, Arizona) is cutting back on its global production outlook for 2017, but expects that a much-needed rise in copper prices will mitigate much of the effects from lower volumes. The mining giant already is seeing positive results from higher prices, posting a $268 million profit in second-quarter 2017, compared with a $479 million loss in the same period last year. Industrial Info is tracking more than $2.6 billion in active projects involving Freeport.
Within this article: Details on Freeport's outlook and active capital projects, including major copper mines in Indonesia, Africa and the U.S.
