The CEO of Freeport-McMoRan, a leading copper giant, emphasized the urgent need for the United States to enhance its mine permitting process to increase the domestic supply of critical minerals crucial for powering the clean energy transition. Richard Adkerson highlighted the necessity for tangible actions rather than mere lip service from the U.S. government, stressing the challenges posed by the current political system’s dysfunctionality.
During the CERAWeek energy conference in Houston, Adkerson engaged in discussions with U.S. Energy Secretary Jennifer Granholm and advocated for reforms in the country’s mining laws, some of which date back to the 19th century. Emphasizing the importance of clarity in the approval or rejection of permits, Adkerson clarified that the focus is on improving processes without compromising environmental standards.
As Adkerson prepares to step down from his role after over two decades, Kathleen Quirk, his successor as CEO, underscored Freeport’s commitment to securing community support near its mine sites to enhance the industry’s social license to operate. The company remains dedicated to finding common ground with local residents, recognizing the necessity of sustainable solutions for a viable business plan.
While considering potential expansion of its copper smelter in Miami, Arizona, Freeport remains focused on leveraging copper leaching technology in the near term. Adkerson acknowledged the challenges in attracting workers within the U.S., highlighting ongoing efforts to adopt technology for reducing workforce requirements. Despite staffing difficulties domestically, Freeport faces no shortage of applicants for positions in its operations in Peru and Indonesia.
Looking ahead, Adkerson assured a seamless transition as Quirk assumes the role of CEO, emphasizing continuity in Freeport’s management approach.