12:15 PM EDT, 06/10/2025 (MT Newswires) -- Freeport-McMoRan ( FCX ) chief executive Kathleen Quirk said US tariffs on copper imports have recently boosted the company's domestic business, but warned the longer-term impact of such measures could weigh on global demand, Bloomberg reported Tuesday, citing an interview.

"We do benefit from having a copper tariff because it prices our copper higher domestically," Quirk said. "If we have these big tariffs and trade wars, that makes us concerned for global demand for copper."

Freeport operates seven open-pit copper mines in the US and owns the Miami smelter in Arizona, which processed 840,600 metric tons of copper concentrate in 2024. The facility produced 214,000 metric tons of copper anode last year and also supplies sulfuric acid for Freeport's leaching operations.

The company has said the premium on US copper prices, recently as high as 13% above London Metal Exchange levels, could contribute up to $800 million in annual revenue.

Freeport-McMoRan ( FCX ) did not immediately respond to a request seeking comment on Tuesday from MT Newswires.

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