Thursday, ahead of the North American open, Freeport-McMoRan Inc.
“Our Board adopted a new financial policy aligned with our strategic position as foremost in copper, prioritizing a strong balance sheet, increasing cash returns to shareholders and disciplined investments in profitable long-term growth,” he added.
Looking at production numbers, the company said that during the first three months of the year, it sold 825 million pounds of copper, 258,000 ounces of gold and 21 million pounds of molybdenum.
Freeport produced 910 million pounds of copper, up 24% compared to the first quarter of 2020.
Along with increased production, the company also reported relatively stable costs.