Mining Company Freeport-McMoRan Cuts $800 Million Capex After Copper Price Plunge

SUGAR LAND--April 27, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--Faced with a sharp drop in copper prices amid the COVID-19 pandemic, Freeport-McMoRan Incorporated (NYSE:FCX) (Phoenix, Arizona) is slashing $800 million from its planned capital expenditures this year and reducing mining rates at its Americas facilities by 20%.