Freeport-McMoRan Inc. (FCX) Presents at BofA Securities Global Metals, Mining and Steel Conference (Transcript)


Start Time: 09:30 January 1, 0000 9:27 AM ET

Freeport-McMoRan Inc. (NYSE:FCX)
BofA Securities Global Metals, Mining and Steel Conference
May 14, 2024, 09:30 AM ET

Company Participants

Richard Adkerson – Chairman and CEO

Conference Call Participants

Lawson Winder – Bank of America

Operator

Good morning, and hello from me. For those of you just joining us, again, welcome to BofA’s 41st Annual Global Metals, Mining and Steel Conference. I’m Lawson Winder, BofA’s North American senior metals and mining analyst. My next guest has been at every single one of these events since its first day. Thanks to Dan, who kicked the event off 41 years ago.

So our next guest has been part of Freeport-McMoRan since 1989. He is synonymous with the company, he’s synonymous with copper. And it is my absolute pleasure to have with me here today from Freeport. Chair and outgoing Chief Executive Officer, Richard Adkerson. And Richard, I think you were going to say a word or two about the CEO transition. So I’ll let you take it away, and I’ll come sit down with you.

Richard Adkerson

Thank you very much. I got to recognize Dan because he’s the one who got me started on all these conferences. It was in Dublin 21 years ago and the price of copper just tipped above $0.70 a pound after being down in the $0.60. China was just starting to emerge. And my colleague and good buddy, Chip Goodyear, got up, all the other CEOs were there, it was my first conference. And Chip said, he didn’t want the price of copper to go too high because it would stimulate uneconomic investment, $0.70, three years later, it was $4, a great lesson there. People can’t predict what’s going to happen in this marketplace. And it’s great to be back.



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