Freeport says prices need to rise for new projects

SANTIAGO, July 2 (Reuters) - Freeport-McMoRan (FCX.N) will be a long-term investor in Chile and Peru, but would like to see copper prices rise more before investing further in the countries, its chief for the Americas said on Thursday.

"Right now we need to see more demand for our product," before expanding in the copper-rich countries, Harry Conger, the company's president for the Americas, said at an economics conference in Chile.

Freeport, like many global miners, has had to reevaluate projects since metals prices sank in late 2008 before starting to recover.

"We have a bright outlook for copper in general, but it's longer term," he said.

He said the company has been in Chile 25 years and Peru for 15 years and praised their governments and labor forces.

"We are long-term players and plan to do a lot more here," he said of Peru and Chile. (Reporting by Terry Wade)