Freeport-McMoran lowers copper estimated sales due to COVID-19 & decreased copper prices
Freeport-McMoran, Inc., the biggest copper listed corporation, announced to downward its copper sales volume from 400 million pounds to 310 million pounds in 2020 schedule due to the COVID-19 outbreak and the lockdown policy around the world. The estimated quantity was down by 11% compared with this January.
The corporation took a series of measures for cost down and capital expense cut because of COVID-19, and the copper sales goal was also cut for this year.
The average mining capacity in America was lower by around 20%, and low operation will be estimated until 2021, said Freeport-McMoRan's Chief Financial Officer.
