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[purple][bold]Most Relevant Articles for FCX - 2023-05-30[/bold][/purple]
-[green]Regulatory Risk[/green] (Indonesia will allow exports of copper, iron ore, lead, zinc, and anode mud from copper concentrates to continue despite a planned export ban in June, as many smelters were delayed by the pandemic. The country's Energy and Mineral Resources Minister, Arifin Tasrif, stated that banning these materials prematurely would cost the country revenue and jobs. Copper miners Freeport Indonesia and Amman Mineral Nusa Tenggara will be exempt from the ban due to smelter development delays caused by the pandemic. This decision may impact FCX's operations in Indonesia and its supply chain. - Zawya (https://www.zawya.com/en/world/china-and-asia-pacific/indonesia-to-allow-exports-of-five-raw-minerals-despite-june-ban-w16a5k93))
+[green]Economic Risk[/green] (Copper prices have declined 13% over the last six weeks to US$3.65 per pound, primarily due to weaker than expected demand in China. The country's economy has not recovered as rapidly as projected after it ended its zero-COVID policy around the start of 2023. Additionally, rising global supply has contributed to the falling price trajectory, with First Quantum Minerals resuming copper shipments from its Cobre Panama mine and China's CMOC Group set to begin producing copper in the Democratic Republic of Congo. This decline in copper prices could negatively impact Freeport-McMoRan's financial performance. - The Deep Dive (https://thedeepdive.ca/copper-declines-on-weak-china-macro-data-little-reason-to-expect-a-near-term-rebound/))
-[green]Financial Risk[/green] (The World Bank forecasts metal prices to decline in 2023 and 2024 as supply recovers amid weak demand in advanced economies and China. The largest price declines are expected for tin and zinc, while copper, lead, and nickel are expected to fall by less than 5%. This decline in metal prices may impact FCX's financial performance and profitability. - World Bank (https://blogs.worldbank.org/opendata/metal-prices-forecast-decline-supply-improves))
+
+[green]Economic Risk[/green] (Chile's lithium industry, which is crucial for the manufacturing of electric car batteries, is facing scrutiny due to water stress in the Atacama Desert. The Chilean government is currently reviewing the exploitation of the desert's resources, with a focus on the sustainability of water usage by the lithium industry. This could potentially impact Freeport-McMoRan's operations in the region, as the company is involved in the extraction of copper and other minerals in Chile. - EURACTIV (https://www.euractiv.com/section/energy-environment/news/facing-water-stress-chiles-lithium-industry-under-scrutiny-in-atacama-desert/))
------------------------
[purple][bold]News for Freeport-McMoRan:[/bold][/purple]
-> 2023-05-24 11:32:49 - Two of these holes were drilled at the Copper Mountain Mine main pit and ... material and labour shortages, the protection of the Company's IT systems or a...
-[purple]Relevancy score: 4.3/5 Stars[/purple]
+> 2023-05-28 11:02:39 - Copper prices have fallen over 8% on the back of lower-than-anticipated demand from China, which is the largest consumer of the metal, accounting for over 50%...
+[purple]Relevancy score: 4.86/5 Stars[/purple]
[green]Commodity Price Risk[/green] (Freeport-McMoRan is exposed to commodity price risk due to a variety of macroeconomic factors, such as global supply and demand and inventory levels, global economic and political conditions, international regulatory, trade and/or tax policies, commodities investment activity and speculation, interest rates, expectations regarding future inflation rates, the strength of the U.S. dollar compared to foreign currencies, the price and availability of substitute products, and changes in technology. Additionally, supply chain disruptions, labor shortages, wage pressures, rising inflation, fuel and energy costs, natural disasters, public health crises, geopolitical conflicts, and foreign currency exchange rate fluctuations can all contribute to commodity price volatility.)
-Read more: https://www.prnewswire.com/news-releases/copper-mountain-intersects-highest-grade-copper-gold-mineralization-including-104-metres-of-1-01-cueq-and-extends-mineralized-zone-over-200-metres-at-depth-301833086.html
+Read more: https://economictimes.indiatimes.com/markets/commodities/news/how-copper-prices-are-getting-affected-by-complex-interplay-of-supply-and-demand/articleshow/100568388.cms
-> 2023-05-24 16:32:34 - Copper price fell below $8,000 a tonne on Wednesday for the first time since November as prospects for a quick rebound in China's economy recede.
-[purple]Relevancy score: 4.14/5 Stars[/purple]
+> 2023-05-27 13:33:47 - Commodity traders are cautious about holding surplus copper given expensive financing costs, pushing current prices down. Spread between prices is shown as US$...
+[purple]Relevancy score: 4.74/5 Stars[/purple]
[green]Commodity Price Risk[/green] (Freeport-McMoRan is exposed to commodity price risk due to a variety of macroeconomic factors, such as global supply and demand and inventory levels, global economic and political conditions, international regulatory, trade and/or tax policies, commodities investment activity and speculation, interest rates, expectations regarding future inflation rates, the strength of the U.S. dollar compared to foreign currencies, the price and availability of substitute products, and changes in technology. Additionally, supply chain disruptions, labor shortages, wage pressures, rising inflation, fuel and energy costs, natural disasters, public health crises, geopolitical conflicts, and foreign currency exchange rate fluctuations can all contribute to commodity price volatility.)
-Read more: https://www.mining.com/china-fears-send-copper-price-tumbling-below-8000/
-
-> 2023-05-24 12:32:20 - Pan Global Resources Inc. is actively targeting copper-rich mineral ... in the prolific Iberian Pyrite Belt in southern Spain , where infrastructure,...
-[purple]Relevancy score: 4.07/5 Stars[/purple]
-[green]Competition Risk[/green] (Freeport-McMoRan Inc. is exposed to competition risks from other mining companies and industries, as well as commodity price volatility, water supply risks, and geopolitical, economic, and social risks associated with its international operations. These risks can affect the company's profitability, such as delays in the transport of supplies, products and people at the Cerro Verde mine in Peru, or the inability to acquire additional back-up water supplies in Indonesia.)
-Read more: https://investingnews.com/pan-global-announces-appointment-of-corinne-smit-to-the-board-of-directors/
+Read more: https://thedeepdive.ca/copper-declines-on-weak-china-macro-data-little-reason-to-expect-a-near-term-rebound/
-> 2023-05-24 13:26:13 - The Democratic Republic of Congo aims to boost its stake in a cobalt and copper joint venture with Chinese firms to 70% from 32%, on concerns the deal gives ...
-[purple]Relevancy score: 3.87/5 Stars[/purple]
+> 2023-05-28 07:30:21 - Lithium extraction in Chile's Atacama Desert exacerbates water stress in an ... list of critical raw materials considered essential for the manufacturing of ...
+[purple]Relevancy score: 4.42/5 Stars[/purple]
[green]Political Risk[/green] (Freeport-McMoRan is exposed to political risk due to its operations in many countries around the world. This risk includes the possibility of expropriation, nationalization, or other government interference, such as changing laws or regulations, taking control of assets or operations, imposing tariffs or taxes, changing currency exchange rates, or imposing sanctions or embargoes. The company also faces significant environmental, safety, and engineering challenges and risks associated with the management of its waste rock and tailings, as well as the risk of violence, civil and religious strife, and activism.)
-Read more: https://www.reuters.com/markets/commodities/congo-hike-stake-copper-cobalt-venture-with-china-2023-05-24/
+Read more: https://www.euractiv.com/section/energy-environment/news/facing-water-stress-chiles-lithium-industry-under-scrutiny-in-atacama-desert/
-> 2023-05-24 13:32:34 - Copper's price fell as much as 2% to $7,944 U.S. a ton on the London Metals Exchange, its lowest level since November 2022. The precious metal's price has now...
-[purple]Relevancy score: 3.78/5 Stars[/purple]
-[green]Commodity Price Risk[/green] (Freeport-McMoRan is exposed to commodity price risk due to a variety of macroeconomic factors, such as global supply and demand and inventory levels, global economic and political conditions, international regulatory, trade and/or tax policies, commodities investment activity and speculation, interest rates, expectations regarding future inflation rates, the strength of the U.S. dollar compared to foreign currencies, the price and availability of substitute products, and changes in technology. Additionally, supply chain disruptions, labor shortages, wage pressures, rising inflation, fuel and energy costs, natural disasters, public health crises, geopolitical conflicts, and foreign currency exchange rate fluctuations can all contribute to commodity price volatility.)
-Read more: http://www.baystreet.ca/articles/commodities/87741/052423
+> 2023-05-27 04:32:00 - Element79 Gold Announces Execution of Agreement with Centra Mining Ltd. for Sale of ... As such, investors are cautioned not to place undue reliance upon...
+[purple]Relevancy score: 4.01/5 Stars[/purple]
+[green]Competition Risk[/green] (Freeport-McMoRan Inc. is exposed to competition risks from other mining companies and industries, as well as commodity price volatility, water supply risks, and geopolitical, economic, and social risks associated with its international operations. These risks can affect the company's profitability, such as delays in the transport of supplies, products and people at the Cerro Verde mine in Peru, or the inability to acquire additional back-up water supplies in Indonesia.)
+Read more: https://investingnews.com/element79-gold-announces-execution-of-agreement-with-centra-mining-ltd-for-sale-of-properties-from-battle-mountain-portfolio-in-nevada/
+
+> 2023-05-28 15:02:03 - But the best way to make money from this disruption isn't buying Tesla (NASDAQ:TSLA)… or ... But it takes 10 years to get a new copper mine up and running.
+[purple]Relevancy score: 3.86/5 Stars[/purple]
+[green]Operational Risk[/green] (Operational risk is the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events. Freeport-McMoRan is subject to operational risks due to its large-scale operations and the complexity of its processes, which can lead to significant losses if not managed properly. Additionally, the company is subject to ESG risks, such as reputational damage, increased costs, and loss of social license to operate, if it fails to meet investor or stakeholder expectations.)
+Read more: https://www.valuewalk.com/the-dirty-secret-behind-the-clean-car-revolution-and-a-new-way-to-profit/