Freeport-McMoRan Plans $2.5 Billion in Capital Spending in 2011

Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX) announced it plans to spend $2.5 billion this year on mine expansions and restart projects.

The press release is quoted as saying:

The company is in the midst of many restart and expansion projects, including the Morenci and Miami copper mines in Arizona, and a restart/revamp project for the company’s molybdenum mine in Climax, Colorado. Freeport McMoRan is also in the process of restarting the Chino copper mine near Bayard, New Mexi

To read the full press release, click here.