US must improve copper mine permitting process, Freeport CEO says

investing.com:

By Ernest Scheyder

HOUSTON (Reuters) — The U.S. must improve its mine permitting process if it hopes to boost domestic supplies of critical minerals to power the clean energy transition, the CEO of copper giant Freeport-McMoRan (NYSE:FCX) said on Monday.

«The U.S. government needs to stop giving lip service to permitting,» Richard Adkerson told Reuters on the sidelines of the CERAWeek energy conference in Houston.

«The question is, given our political system that we have today and the dysfunctionality of it, how do you go from getting a project verbally accepted to getting actions done?»

Earlier, U.S. Energy Secretary Jennifer Granholm told the conference that she supported efforts in the U.S. Congress to reform the country's mining laws, some of which were first approved in the 19th Century.

Adkerson sat next to Granholm at the conference's Monday lunch and said he had a productive conversation with the secretary about permitting reform.

Adkerson, who plans to step down as CEO this year after more than 20 years in his role, said he was asking Washington for more clarity on how permits are approved or rejected, not an easing in environmental regulations.

«We're not talking about dropping standards,» he said. «We're talking about processes here.»

Kathleen Quirk, Adkerson's longtime lieutenant who will succeed him as CEO, said Freeport was focused on earning the support of people who live near its mine sites as part of its push to boost the copper industry's social license to operate.

«We talk a lot about finding common ground. You got to find it. It's going to take out of your economics, but otherwise you don't have a viable business plan if you don't come up with a sustainable solution,» said Quirk, currently the