Edition:
India

Freeport confident in copper long term - CEO


Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN INC SEES COPPER MARKET PARADOX: STRONG FUNDAMENTALS, BUT POOR SENTIMENT - CHIEF EXECUTIVE OFFICER RICHARD ADKERSON.FREEPORT SLOWING LONG-TERM RESOURCE DEVELOPMENT PLANS, DEFERRING INVESTMENT DECISIONS UNTIL CLARITY IN MARKETPLACE - CEO.FREEPORT EVALUATING PROJECT PIPELINE, RANKING OPPORTUNITIES, WILL DO LOW-RISK CAPITAL EXPANSION WHEN CONDITIONS RIGHT - CEO.FREEPORT SEES 2022 INDONESIA OUTPUT AT 1.8 MILLION LBS COPPER, 1.9 MILLION OUNCES GOLD; 2023-2027 AT 1.7 MILLION LBS COPPER, 1.8 MILLION OUNCES GOLD - CEO.FREEPORT SEES IMPLIED COST TO REPLACE ITS PRODUCTION AT PLUS/MINUS $40 BILLION, BASED ON COST TO DEVELOP CAPACITY OF $8-$10 PER POUND - CEO.