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Freeport-McMoran’s Grasberg mining operation, in Indonesia’s Papua province.
Freeport-McMoran’s Grasberg mining operation, in Indonesia’s Papua province.
(STRINGER/INDONESIA/REUTERS)

Financial Times

Freeport-McMoRan’s metal-morphosis not a done deal

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Freeport-McMoRan Copper & Gold – rough week to have those metals in your company name. Prices for both have plummeted. Freeport’s shares were down 3 per cent on Monday on reports that China’s economy, and by implication copper demand, was slowing. So Thursday’s earning report was somewhat anticlimactic. Sales, as expected, were down year over year as higher copper sales volume couldn’t compensate falling prices.