Freeport-McMoRan looking for ways to expand copper production

Freeport is targeting annual production of as much as 363 million kilogrammes of copper from technology that will enable it to extract metal it already owns but couldn’t previously access. — Bloomberg

NEW YORK: US copper giant Freeport-McMoRan Inc believes it can unlock the equivalent of a large new mine by applying new processing technology at its existing assets, according to new chief executive officer (CEO) Kathleen Quirk.

Quirk, who stepped into the role on Tuesday to become the only female CEO of a major listed mining company, said in an interview that Freeport isn’t under pressure to follow rivals like BHP Group in seeking acquisitions, and will instead focus on innovation to grow production and lower costs.