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Freeport Green-Lights $4.5 Billion Copper Expansion in Arizona
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Freeport Green-Lights $4.5 Billion Copper Expansion in Arizona Freeport-McMoRan Inc. approved a $4.5 billion expansion of an Arizona mine that the copper producer predicts will more than double mining and processing rates as it seeks to capitalize on growing demand for the metal. The project would boost annual copper output at the Bagdad mine by more than 100,000 metric tons, Freeport said in a Wednesday statement. Initial production is targeted for mid-2030 after a three-and-a-half-year...
Freeport Green-Lights $4.5 Billion Copper Expansion in Arizona
Freeport-McMoRan Inc. approved a $4.5 billion expansion of an Arizona mine that the copper producer predicts will more than double mining and processing rates as it seeks to capitalize on growing demand for the metal.
The project would boost annual copper output at the Bagdad mine by more than 100,000 metric tons, Freeport said in a Wednesday statement. Initial production is targeted for mid-2030 after a three-and-a-half-year construction period. The expansion would make Bagdad the second-largest US copper mine after Freeport’s Morenci operation, the company said.