After a slump in third-quarter earnings, Richard Adkerson, Freeport McMoran Copper & Gold CEO, told CNBC's "Closing Bell" on Monday, he's still optimistic about his business and copper fundamentals longer-term.
During the third quarter, the world's largest listed copper and gold miner reported a 22-percent drop in earnings and a 15-percent decline in revenue. Adkerson attributed the declines to "unusual" production issues at its Grasberg mine in Indonesia.
"We produced on a gross basis half the normal levels of copper and gold that we normally produce," the Freeport McMoran executive said of its Indonesian operations. "Other than that, our business performed very well. Our operations in the Americas and Africa were above expectations."
Adkerson expects that next year it will return to more normal production in Indonesia and its expansion projects will add volume. (Read More: How Cramer's Playing Gold.)