Phoenix Business Journal
The closure of a Freeport-McMoRan Copper & Gold Inc. mine for four weeks following a deadly accident is pushing up world copper prices.
Bloomberg reported Phoenix-based Freeport is delaying shipments to customers. Freeport’s Indonesian mine has been closed for four weeks.
Reuters reported early Tuesday that Freeport was declaring a force majeure, contract language that would allow it out of the deliveries because of an incident beyond its control.