TORONTO, Aug 27 (Reuters) - Freeport-McMoran Inc said on Thursday it will slash its mining capital budget by 25 percent next year and cut 10 percent of its U.S. mine staff, as the diversified miner and energy producer attempts to weather an ongoing slump in copper prices.
The U.K. proposed to end an assistance program for small-scale renewable energy projects as part of a drive to cut the costs to consumers of subsidizing clean technologies.
There is a stark disparity between the falling costs for renewable energy solutions for electricity customers and the rising $1 trillion budget that U.S. utilities will spend on new infrastructure over the next 15 years. The potential for utility over-investment on its side of the meter, and the potential for over-capacity on both sides of the meter, suggest that demand flexibility must be embraced by both parties, according to analysts at Rocky Mountain Institute.
Aug 27 (Reuters) - Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would lower its capital budget for mining in 2016 by 25 percent, or $700 million, as commodity prices continue to weaken.
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