Freeport-McMoRan Cuts Output At Grasberg As Valuation Signals Opportunity
Freeport-McMoRan (NYSE:FCX) has reduced its copper production outlook following a fatal accident at the Grasberg mine. The company has also pointed to a weaker than expected long term outlook for its business. The incident and revised guidance highlight operational and safety risks tied to one of Freeport-McMoRan's key assets. Freeport-McMoRan is a major global copper producer, and Grasberg is one of its most important mining operations. When a mine of that scale faces a serious safety...
Freeport-McMoRan (NYSE:FCX) has reduced its copper production outlook following a fatal accident at the Grasberg mine. The company has also pointed to a weaker than expected long term outlook for its business. The incident and revised guidance highlight operational and safety risks tied to one of Freeport-McMoRan's key assets. Freeport-McMoRan is a major global copper producer, and Grasberg is one of its most important mining operations. When a mine of that scale faces a serious safety...