06:42 AM EDT, 09/30/2024 (MT Newswires) -- Freeport-McMoRan ( FCX ) plans to increase its copper output rather than make acquisitions to grow the company, Reuters reported Sunday, citing an interview with Chief Executive Kathleen Quirk.

"We're really, really focused on creating value from the assets that we have," Reuters quoted her as saying. "I don't see Freeport as having to aggressively go out and have to overpay for things."

Reuters cited an analysis as saying global demand for copper is set to increase at least 60% by 2050.

Freeport produces 9% of global copper supplies, more than any other company, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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