Weak market conditions prompt Freeport-McMoRan to look for cost cuts

Multinational diversified miner Freeport-McMoRan has started a comprehensive review of its mining and oil and gas businesses to target significant capital spending and operating and administrative cost cuts in response to weak market conditions for its significant products. These plans would also incorporate potential adjustments to mine plans and future copper and molybdenum production volumes to reduce costs and preserve valuable resources for expected improved future market conditions.