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“We’re hunting in Canada, but we are very clear about our investment filters.” Barrick boosted its dividend by 40%, benefiting from higher gold output and improved prices. The copper production increased by 4.9% and gold production increased by 22.4% quarter over quarter.

The offering size was increased to $1.5 billion from the previously announced $800 million aggregate principal amount. Moreover, it is the highest operating cash flow since Q2 2019 ($554 million).

Find the latest Freeport-McMoRan, Inc. (FCX) stock discussion in Yahoo Finance's forum.

Freeport is primed to beating the 2020 sales and cost guidance At a flat gold price of $1,800/toz, a molybdenum price of $7/lb, and a copper price of $2.75/lb, Freeport expects to generate an average annual EBITDA of approximately $6 billion and operating cash flow of nearly $4 billion in 2021 and 2022. REUTERS/Chris HelgrenFILE PHOTO: Mark Bristow, chief executive officer of Barrick Gold, speaks during an interview at the Investing in African Mining Indaba conference in Cape Town, South Africa February 5, 2019. Trefis is currently used by hundreds of thousands of investors, company employees, and business professionals.Opinions expressed by Forbes Contributors are their own. Bristow has fanned speculation that Barrick, the world’s No. Barrick has been selling its less productive mines to focus on so-called Tier 1 assets following the acquisition of Africa-focused Rangold Resources a year ago. “It’s reckless to go and do a hostile in a complicated jurisdiction or a complex, old corporation, because the embedded liabilities are significant,” Bristow told Reuters at Barrick’s Toronto headquarters after the company reported a better-than-expected quarterly profit. FCX’s 2020 revised operating plans are focused on safeguarding its business in an uncertain public health and economic environment, advancing the ramp-up of underground production at Grasberg to establish large-scale, low-cost copper and gold production, and advancing initiatives in the Americas to position FCX for significant increases in cash flows in 2021 and beyond.
“How that works out under my management is going to be important on whether the market will give me that slack to continue to pursue world-class assets in that environment,” he said. “And there’s no competition for Grasberg,” he added.

“So it’s got to be something that works out for the best interests of everyone.” A Freeport representative did not immediately respond to a request for comment.

Regarding financial policy, as we've covered throughout this call, we remain focused on safeguarding our people and our business, and maintain strong liquidity and balance sheet strength as we manage through uncertainty during the pandemic.

It is the lowest level since Q3 2018. The MarketWatch News Department was not involved in the creation of this content. However, at the end of June, the throughput rate of 70,000 tpd was reached.

Grasberg's production should almost double in 2021 (to 1.4 million toz gold and 1.4 billion lb copper).Freeport's production should keep on growing over the coming quarters (barring any other major coronavirus-related production disruptions), as the Grasberg ramp-up will continue and the Lone Star mine with an annual production capacity of 200 million lb copper should start production in H2 2020.

What is positive about Freeport's debt, is its very favorable term structure.
An armed soldier stands guard outside a tram station at Freeport McMoRan Inc.'s Grasberg copper and The ongoing 2-year transition at the Grasberg mine in Indonesia, under which the mine is being converted from open pit to an underground mine, is set to deprive What’s behind Trefis?

Freeport is negotiating a new schedule with the Indonesian government. It is a major improvement compared to the slightly negative operating cash flow recorded in Q1.

Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has commenced cash tender offers to purchase a portion of its outstanding 3.55% Senior Notes due 2022, 3.875% Senior Notes due 2023 and 4.55% Senior Notes due 2024 (collectively, the Notes) for an aggregate purchase price up to $800 million (the principal amount of Notes that does not cause such amount to be … While the Indonesian mine operated at a capacity of 37,500 tpd in Q1, it increased to 54,800 tpd in Q2. However, as indicated by Freeport's CEO during the earnings call, Freeport wants to use the significantly improved cash flows, expected in H2 2020 and in 2021, to reduce the debt.

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