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Freeport-McMoRan declares further spending cuts in response to market conditions


Published Aug 28, 2015
Freeport-McMoRan Inc.

Freeport-McMoRan Inc. announced revised capital and operating plans in response to the recent decline in copper prices resulting in reduced capital expenditures, lower production levels and lower operating, administrative and exploration costs. These actions are the results of the previously announced review of operating plans for FCX’s mining business.

Since 2013, FCX’s business strategy for its global mining business has been focused on the completion of three major organic growth projects in the U.S., South America and Africa and on its long-term development plans in Indonesia, while aggressively managing operations to position the company for long-term free cash flow generation to be used for debt reduction and returns to shareholders.

Tags: Freeport-McMoRan Inc.




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