Freeport McMoRan Copper & Gold Inc Chief Executive Richard Adkerson said on Wednesday he was confident the company's contract in the Democratic Republic of Congo would be preserved no matter who was elected in an upcoming election.
We went through a lengthy contract review process where there was a lot of scrutiny...and this is a very fair deal by global standards in the DRC, he said, referring to the company's Tenke Fungurume deposit, on the sidelines of the African Copper conference in London.
He said state-owned mining company Gecamines has not indicated that it was looking to sell down a stake in the Tenke Fungurume deposit to help fund the elections. Adkerson also added Freeport was unable to make up a production shortfall from strikes in Peru and Indonesia as it already operates at full capacity.
We can't do that (make up fro production shortfall). We produce at full capacity every day, he said.