Critical Copper Negotiations Point to a Tight Market
- Copper miner expects no major changes in processing fees
- The pandemic has hit copper mine supply and stoked demand
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As Freeport McMoRan Inc. hammers out next year’s benchmark deal for the copper industry, the coronavirus has complicated negotiations but also given the miner an edge.
Gone is an ice-breaking reception for key customers that Freeport’s Javier Targhetta hosted for more than two decades during London Metal Exchange Week. For the past few years, that’s seen Chief Executive Officer Richard Adkerson serenade hundreds of guests as they dined on champagne and paella at a Park Lane hotel.