Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Freeport McMoran’s Cerro Verde copper mine in Peru will continue operations at a reduced pace after the country’s government extended its COVID-19 related lockdown period from April 11 to April 26.


The company announced in a press statement that it was operating its concentrator at one third of its usual capacity at Cerro Verde mine, which is part-owned by Freeport McMoran, until April 11. The company intends to use the additional time to prepare for increasing production to stay on track with its 2020 guidance once the order is lifted. Cerro Verde produced close to 453,592mt of copper in 2019.


The miner has also indefinitely suspended operations at its Chino Copper Mine in New Mexico after some of the company’s employees at the mine tested positive for the virus. The copper mine, the third-largest in the US, produced 79,379mt of copper last year.



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