FCX Stock Leads S&P 500 As Copper Price Dips Amid Mine Restart Plan

Freeport-McMoRan shares jumped early Tuesday as the company detailed a multiyear plan to ramp up copper and gold output following a deadly mud rush at its Grasberg mine in Indonesia. The move lifted the S&P 500 stock near a key support level. Seven Freeport-McMoRan employees died in the Sept. 8 incident, which the company said was unprecedented in the mine’s 40-plus years of operations and for which its says there were no warning indications.

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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