Oct 20 (Reuters) - Freeport-McMoRan Inc(FCX): * CHIEF EXECUTIVE RICHARD ADKERSON SAYS PHYSICAL COPPER MARKET 'STRIKINGLY TIGHT GLOBALLY RIGHT NOW' * CEO SAYS HE IS 'INCREASINGLY CONFIDENT ABOUT THE OUTLOOK AND POSITION OF THE COPPER MARKETS' * CEO SAYS COMPANY IS PREPARED FOR ANY WEAKENING IN GLOBAL ECONOMY * PRESIDENT KATHLEEN QUIRK SAYS 'COPPER DEMAND REMAINS HEALTHY' AND 'INVENTORIES REMAIN LOW BY HISTORICAL LEVELS' * PRESIDENT SAYS COMPANY STUDYING POSSIBLE EXPANSION OF BAGDAD COPPER MINE IN ARIZONA * PRESIDENT SAYS TARGETING COMPLETION OF NEW INDONESIAN SMELTER IN 2024 * SAYS WILL DEFER MAJOR INVESTMENT DECISIONS IN THE CURRENT MARKET ENVIRONMENT * SAYS HAS NOT BOUGHT ITS OWN SHARES SINCE JULY 2022 * SAYS EXPECTS TO BE PRODUCING 200 MILLION POUNDS/YEAR OF COPPER BY END 2023 USING NEW LEACHING TECHNOLOGY * CEO SAYS DOES NOT EXPECT ANY U.S. GOVERNMENT FINANCIAL SUPPORT FOR THE COMPANY'S COPPER PROJECTS * CEO SAYS HOPES U.S. PERMITTING PROCESS GETS 'MORE REASONABLE' * CEO SAYS NONE OF COMPANY'S CUSTOMERS ARE SCALING BACK ORDERS * CEO: 'WE CERTAINLY HAVE NO PROBLEM SELLING COPPER' Source text for Eikon: Further company coverage: (Reporting By Ernest Scheyder)
Like oil I see the big crash in prices as being all fear of the non-existant drop in demand.
HGO Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
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