SOURCE: Industrial Info Resources

Industrial Info Resources

April 21, 2011 06:30 ET

Miner Freeport-McMoRan Plans $2.5 Billion in Capital Spending in 2011, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Apr 21, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX) (Phoenix, Arizona) reported net income of $1.5 billion for the first quarter of the company's 2011 fiscal year, representing a 67% rise from 1Q10 net income of $897 million.

Freeport-McMoRan anticipates capital expenditures of about $2.5 billion for the entire year. The company is in the midst of many restart and expansion projects, including the Morenci and Miami copper mines in Arizona, and a restart/revamp project for the company's molybdenum mine in Climax, Colorado. Freeport McMoRan is also in the process of restarting the Chino copper mine near Bayard, New Mexico.

Industrial Info is tracking more than $5 billion in active Freeport-McMoRan projects across the world, including more than $1 billion in North American projects. Information on these and other projects can be found in Industrial Info's North American and International Metals & Minerals Databases.

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