Lack of new copper mines to boost prices - Freeport

Tue Jan 22, 2013 11:24am EST

Jan 22 (Reuters) - Copper prices look poised to rise over the long term with few new projects being developed, the chairman of Freeport-McMoRan Copper & Gold Inc said on Tuesday.

Companies are abandoning plans for new copper mines because of how quickly commodity prices have risen, said Jim Bob Moffett, chairman of the world's largest publicly traded copper producer.

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