Freeport-McMoRan (FCX -2.8%) agrees to pay Chinese copper smelting giant Jiangxi Copper a 12.4%...

|About: Freeport-McMoRan Inc. (FCX)|By:, SA News Editor

Freeport-McMoRan (FCX -2.8%) agrees to pay Chinese copper smelting giant Jiangxi Copper a 12.4% higher rate to refine its copper next year, a sign global copper supply could see a boost in 2012. Moreover, it may mean that the company is nearing a solution to ongoing labor disputes at its Papua, New Guinea mine, where production has been curtailed due to labor strikes.