Ann: June 2024 Quarterly Report, page-39

Source: Freeport-McMoRan investor presentation dated 23 July 2024


Copper scarcity means companies are buying rather than building new supply


Quirk says there are limited actionable copper projects today, and the lead times for developing new sources are longer.

Discovering new copper deposits is becoming increasingly challenging. Despite ongoing efforts, the industry faces hurdles in finding viable new sites. Lengthy permitting processes can delay projects significantly, with some running out of funds before they even start.

Quirk says, “if companies could invest, make discoveries, go forward with project development, they would be doing that all over the place. It just shows the scarcity of copper and it’s leading people to say if I do want exposure I may have to buy it rather than build it because building is very long-term and uncertain.”

Kathleen Quirk, CEO and president of Freeport-McMoRan

https://www.fastmarkets.com/insight...s-are-buying-rather-than-building-new-supply/


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These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.