Latest news with #Quirk
Reuters
5 days ago
- Business
- Reuters
Freeport-McMoRan still waiting for US copper tariff details, CEO says
July 23 (Reuters) - Freeport-McMoRan (FCX.N), opens new tab has yet to see details of U.S. President Donald Trump's plan to impose a 50% tariff on copper imports starting next week, its CEO said on Wednesday after the mining company posted better-than-expected quarterly results. Trump announced the tariffs earlier this month as part of a plan to boost U.S. production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. The duty is slated to begin on August 1. The U.S. imports roughly half of its annual copper needs. Trump and his administration have not shared details on what type of the red metal the tariff would affect, a lack of clarity that has confounded producers, companies that use copper and countries that export it. "We're still waiting on additional details on implementation of the tariff announcement," Freeport CEO Kathleen Quirk told investors on a conference call on Wednesday. Quirk added that Freeport is "not aware of any exemptions at this point" for U.S. imports of the metal. Responsible for 70% of refined U.S. copper - the country's largest producer - Phoenix-based Freeport would be the biggest beneficiary of any copper tariff, with a boost to annual profit of at least $1.6 billion, Reuters reported earlier this month. Freeport also produces copper in Chile, Peru and Indonesia, where it operates the Grasberg mine - the world's second-largest copper mine - and a smelter. While Freeport traditionally has sold its Indonesian copper to Asian customers, Quirk said the company would consider shipping some supply to the United States. "We do have flexibility to send it to the place that makes the most sense," she said. "We don't have long-term contracts locked up" for Indonesian copper. Freeport operates one of two U.S. copper smelters and has been studying whether to expand its capacity by roughly 30%, Quirk said, adding that the company has not discussed the plans with the Trump administration and that it has no desire to build a new U.S. smelter. U.S. copper prices have gained more than 25% since Trump announced the tariffs. When asked whether the increase could affect copper demand, Freeport executives said they continued to see strong demand but longer-term saw the issue tied to how the tariff is implemented. "Ultimately, it's going to be global supply and demand that will end up driving (prices), and then whatever tariffs are there, how they're absorbed and where they're absorbed in the U.S. marketplace," said Freeport's chairman, Richard Adkerson. Adkerson added that Freeport has lobbied Washington to streamline the mine-permitting process to boost the country's copper output. For the second quarter, Freeport's profit beat Wall Street's estimates as higher copper and gold prices offset lower production. The company reported an adjusted profit of 54 cents per share for the three months ended June 30, compared with analysts' average estimate of 45 cents, according to data compiled by LSEG. The company's shares were down about 1.5% at $45.09 on Wednesday afternoon. Freeport said it expects to sell 1.3 billion pounds from its domestic mines in 2025. The company warned of a roughly 5% increase in the cost of its U.S. purchases if suppliers pass along tariff-related expenses for other materials. The company's quarterly average realized price for copper was $4.54 per pound, up 1.3% from a year earlier, while its average realized price for gold was $3,291 per ounce, up about 43%. However, second-quarter copper production dropped around 7% from a year earlier to 963 million recoverable pounds.
The Age
17-07-2025
- Health
- The Age
Matt is 56 but his ‘fitness age' says he is in his 30s. How is that possible?
'Fitness age, also known as your biological age, is a way of grading your health and fitness in comparison to your chronological age,' says Transformation Coach co-founder Chief Brabon, who has coached Quirk for the past 10 years. The accuracy of your result depends on a couple of factors, the first being the breadth of the analysis. Most rudimentary indicators of fitness age, such as the one on your smartwatch, measure your cardiorespiratory fitness by assessing your VO2 max and how it stacks up against others of your age and gender. Some may also take into account your body fat percentage. Others, such as the FAST test Quirk did, also measure mobility, stability, strength, and body composition, providing a more rounded understanding of your physical wellbeing. 'The benefit of the FAST test is it looks at so many aspects of health and wellbeing,' Brabon says. 'These elements are often overlooked in what we consider good health.' But even with more holistic assessments like this, Sydney University health and longevity researcher Professor Luigi Fontana says technology alone provides an incomplete picture of our overall health. Loading 'In 2025, we don't have reliable biomarkers of biological age,' Prof Fontana says. 'No doubt, some devices can now measure – even if not perfectly like an EEG – things like sleep quality, heart rate variability, and some can measure body temperature and blood oxygen,' he says. 'These tools are useful, especially because we're living in a mostly sedentary society, but exercise alone won't guarantee long-term health. Let's say you're exercising, but you're also smoking, over-drinking alcohol, and eating an unhealthy diet. Do you really believe you're going to be healthier and live longer?' Loading Does fitness age matter? Other than a handy brag among your mates, why care about fitness age? Quite simply, Brabon says, because it will boost your chances of living well, if not necessarily longer. 'Our health and fitness – which fitness age represents – should be a priority in our lives, just like family and career,' he says. 'It's no use nurturing a wonderful family or creating financial security if you're not fit enough to enjoy either of them.' Numerous studies show that strong overall fitness is associated with a lower risk of conditions like cardiovascular disease, depression, diabetes, dementia and premature death. 'Ultimately, the greatest benefit of a younger fitness age is a greater quality of life for an extended period of time,' Brabon says. 'What that basically means is that you will be able to move and perform in your 50s, 60s, and even older, as well as you did in your 20s and 30s.' How to improve fitness age Unlike chronological age, Brabon says we all have power to influence our fitness age – whether that's for better or worse. 'We so often see people get to this point in life in their late 40s or early 50s and they've almost given up,' he says. 'But even if you've never been fit before in your life, it doesn't mean you can't achieve a lower fitness age and the lifestyle benefits that come with it. You just have to start.' Fontana says you don't need super intense workouts to see results – just consistent, sustainable habits. Loading 'In one study we found people aged 50 to 60 who exercised one hour a day, six days a week at 70 per cent of their maximum heart rate lost 40 per cent of their visceral fat over the course of a year,' he says. Adding exercises that build strength, mobility and balance can enhance those benefits and support positive ageing. 'As we age we lose muscle mass and bone mass,' Fontana says. 'Resistance and flexibility training help counteract musculoskeletal disorders and osteoporosis, especially in postmenopausal women.' Quirk pushes back on the familiar excuse 'I'm too old to get fit'. 'You're too old not to,' he says. 'You see on YouTube 75-year-old guys who look amazing and they've just continued with strength and fitness work. So why would you stop?' Quirk plans to continue his pursuit of lowering his fitness age. Next on the list his a blood analysis and some fine-tuning of his nutrition to support his training. 'I don't want to end up in a nursing home,' he says. 'I want to stay fit until I drop dead.'
Sydney Morning Herald
17-07-2025
- Health
- Sydney Morning Herald
Matt is 56 but his ‘fitness age' says he is in his 30s. How is that possible?
'Fitness age, also known as your biological age, is a way of grading your health and fitness in comparison to your chronological age,' says Transformation Coach co-founder Chief Brabon, who has coached Quirk for the past 10 years. The accuracy of your result depends on a couple of factors, the first being the breadth of the analysis. Most rudimentary indicators of fitness age, such as the one on your smartwatch, measure your cardiorespiratory fitness by assessing your VO2 max and how it stacks up against others of your age and gender. Some may also take into account your body fat percentage. Others, such as the FAST test Quirk did, also measure mobility, stability, strength, and body composition, providing a more rounded understanding of your physical wellbeing. 'The benefit of the FAST test is it looks at so many aspects of health and wellbeing,' Brabon says. 'These elements are often overlooked in what we consider good health.' But even with more holistic assessments like this, Sydney University health and longevity researcher Professor Luigi Fontana says technology alone provides an incomplete picture of our overall health. Loading 'In 2025, we don't have reliable biomarkers of biological age,' Prof Fontana says. 'No doubt, some devices can now measure – even if not perfectly like an EEG – things like sleep quality, heart rate variability, and some can measure body temperature and blood oxygen,' he says. 'These tools are useful, especially because we're living in a mostly sedentary society, but exercise alone won't guarantee long-term health. Let's say you're exercising, but you're also smoking, over-drinking alcohol, and eating an unhealthy diet. Do you really believe you're going to be healthier and live longer?' Loading Does fitness age matter? Other than a handy brag among your mates, why care about fitness age? Quite simply, Brabon says, because it will boost your chances of living well, if not necessarily longer. 'Our health and fitness – which fitness age represents – should be a priority in our lives, just like family and career,' he says. 'It's no use nurturing a wonderful family or creating financial security if you're not fit enough to enjoy either of them.' Numerous studies show that strong overall fitness is associated with a lower risk of conditions like cardiovascular disease, depression, diabetes, dementia and premature death. 'Ultimately, the greatest benefit of a younger fitness age is a greater quality of life for an extended period of time,' Brabon says. 'What that basically means is that you will be able to move and perform in your 50s, 60s, and even older, as well as you did in your 20s and 30s.' How to improve fitness age Unlike chronological age, Brabon says we all have power to influence our fitness age – whether that's for better or worse. 'We so often see people get to this point in life in their late 40s or early 50s and they've almost given up,' he says. 'But even if you've never been fit before in your life, it doesn't mean you can't achieve a lower fitness age and the lifestyle benefits that come with it. You just have to start.' Fontana says you don't need super intense workouts to see results – just consistent, sustainable habits. Loading 'In one study we found people aged 50 to 60 who exercised one hour a day, six days a week at 70 per cent of their maximum heart rate lost 40 per cent of their visceral fat over the course of a year,' he says. Adding exercises that build strength, mobility and balance can enhance those benefits and support positive ageing. 'As we age we lose muscle mass and bone mass,' Fontana says. 'Resistance and flexibility training help counteract musculoskeletal disorders and osteoporosis, especially in postmenopausal women.' Quirk pushes back on the familiar excuse 'I'm too old to get fit'. 'You're too old not to,' he says. 'You see on YouTube 75-year-old guys who look amazing and they've just continued with strength and fitness work. So why would you stop?' Quirk plans to continue his pursuit of lowering his fitness age. Next on the list his a blood analysis and some fine-tuning of his nutrition to support his training. 'I don't want to end up in a nursing home,' he says. 'I want to stay fit until I drop dead.'
Yahoo
25-06-2025
- Yahoo
OKC police say few arrests despite large crowds downtown at OKC Thunder Champions Parade
Despite the immense crowd turnout for the OKC Thunder Champions Parade, police reported a comparatively low number of arrests during the celebration. Due to the hundreds of thousands of people who were expected to swarm downtown Oklahoma City, the local police department called in teams from law enforcement agencies across the state to assist with security and crowd control. But OKC police Sgt. Dillon Quirk said it was "a fairly quiet, went-how-it-was-supposed-to day," all things considered. Police arrested seven people, Quirk said, two of the arrests being related to firearms, but most being related to public intoxication. "One being a juvenile, which is a misdemeanor arrest, and the other one was an adult intoxicated with a firearm," he said. "But there wasn't any threatening acts of violence with those arrests or anything like that; it was simply the possession charges. We really had just misdemeanor stuff, public drunkenness and arrests of that nature." More: What is OKC's population? How does it compare with Thunder parade crowd expectations? A fatal shooting was reported late Tuesday into early Wednesday in downtown OKC's Bricktown district, long after official parade festivities had ended. Just before 11:50 p.m. Tuesday, officers responded to the shooting in front of the Harkins Theater on E. Reno. The victim, Lyric Lewis, who'd just turned 18 a month ago, was taken by private vehicle to a local hospital, where police said she was later pronounced dead. Quirk said it was unclear what led to the shooting, and no arrests had been made in connection with it as of Wednesday morning. Another homicide occurred during the afternoon Tuesday in the city's southside. Around 3:15 p.m., police responded to a shooting in front of a home in the 2500 block of SW 45. Edwin Jelinek, 44, was taken to a hospital in the area but died of his gunshot wounds, police said. According to a news release, a suspect fled the scene in a dark red vehicle that police spotted soon afterward. Following a short slow-speed pursuit from officers, the 32-year-old suspect stopped at a residence and surrendered, police said. The Oklahoman is not naming the man because he has not yet been formally charged with murder, but he already faces accusations of automobile larceny in a previous case from late May. This article originally appeared on Oklahoman: OKC police say few arrests despite massive turnout at Thunder parade
Yahoo
10-06-2025
- Business
- Yahoo
Tariffs, Billions, and a Copper Showdown: Freeport's Wild Ride Begins
Freeport-McMoRan (NYSE:FCX) is riding a temporary wave of pricing power as the U.S. edges closer to copper import tariffs. With domestic copper now trading nearly 9.3% above London prices, the gap is giving Freeport a sizable boostroughly $800 million in annualized benefits, according to company estimates. But CEO Kathleen Quirk isn't popping champagne just yet. While the tariff premium is a win in the short term, she warns the bigger picture is far more complex. If broader trade restrictions slow global growth, it could end up hurting the very industry these tariffs aim to protect. Since stepping into the CEO role last June, Quirk has been managing a tricky transition. Freeport dominates U.S. copper production with seven open-pit mines and a key smelter, but its most profitable operations sit outside the Indonesia, South America, and Spainwhere costs are significantly lower. Quirk is staying publicly neutral on the tariff debate, noting that while domestic prices benefit, international demand could take a hit if a full-scale trade war breaks out. Investors aren't shrugging this off: Freeport shares have slid roughly 14% during her first year, in line with other global copper majors like BHP and Southern Copper. Freeport is still pushing ahead on U.S. growth projects, eyeing Arizona mine extensions and a potential Miami smelter upgrade. But Quirk isn't overselling the upside. These aren't high-return bets, largely due to the steep cost structure at homeit's more than three times higher than in other regions. Her message is clear: if Washington wants to rebuild the U.S. copper base, it'll take more than tariffs. She's calling for policy supportlike tax credits already given to lithium and nickelto bring copper into the same clean energy conversation. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
