On September 30th, global copper mining giant Freeport-McMoRan (FCX.US) fell more than 2%, closing at $50.3. In terms of news, Kathleen Quirk, the newly appointed CEO of Freeport-McMoRan, stated that the group has no intention of expanding capacity through acquisitions, but is focused on developing the potential of existing production and is confident that production can be increased to 0.8 billion pounds by 2027. Quirk revealed that there are plans to expand 4 mine sites, and as long as these projects are completed, the company is expected to achieve its goals. However, due to environmental protection and the reactions of indigenous people, developing new copper mines is very difficult. Therefore, some copper miners choose to acquire other types of mines, or acquire smaller competitors, to expand their capacity.