{"id":1161635,"date":"2020-01-23T23:47:00","date_gmt":"2020-01-24T05:47:00","guid":{"rendered":"http:\/\/juniorminingnews.com\/?guid=dc9fd8ba9e307667bcaeb89c4531ce0d"},"modified":"2020-01-24T01:59:43","modified_gmt":"2020-01-24T07:59:43","slug":"freeport-shares-dented-by-output-drop-higher-2020-spending","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1161635","title":{"rendered":"Freeport shares dented by output drop, higher 2020 spending"},"content":{"rendered":"<p>Freeport-McMoRan reported a fall in fourth-quarter copper output and said it expected higher spending in 2020 as it transitions its giant Grasberg copper mine in Indonesia to underground mining, sending its shares down 9%.<\/p>\n<p>The US miner has spent billions of dollars in the switch from a depleting open pit mine and to develop a coexisting underground mine that would help achieve low cost, long life production and generate significant future cash flows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Freeport-McMoRan reported a fall in fourth-quarter copper output and said it expected higher spending in 2020 as it transitions its giant Grasberg copper mine in Indonesia to underground mining, sending its shares down 9%.<\/p>\n<p>The US miner has spent 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