Freeport-McMoRan CEO would not rule out M&A, but cites organic growth opportunity
FCX•Freeport-McMoRan CEO Kathleen Quirk said the company would not rule out acquisitions but sees its best growth opportunity in organic expansion. The company plans $5.2 billion in 2027 capital spending, up $400 million from its July forecast.
1. Growth and spending
Quirk said Freeport-McMoRan is monitoring market opportunities for mergers and acquisitions, but believes organic growth can fuel much of the company's expansion. The company plans $5.2 billion in capital spending in 2027, an increase of $400 million from its July forecast, due to U.S. expansion projects and inflation.
2. Grasberg and sales
Chairman Richard Adkerson said Indonesian leaders have expressed support for extending the company's Grasberg operating rights beyond 2041. Quirk expects fourth-quarter sales to be the strongest of the year by far, said the Grasberg ramp-up is making meaningful progress, and noted that both Indonesian smelters are operational.
