HOUSTON (Reuters) – Freeport-McMoRan hopes U.S. President Donald Trump declares copper to be a critical mineral when he announces his plan to boost American mining, CEO Kathleen Quirk said on Monday.

Trump told the U.S. Congress last week he would “take historic action to dramatically expand production of critical minerals.”

Fifty minerals, but not copper, are considered critical by the U.S. Geological Survey. Adding that metal would help Freeport generate more than $500 million annually in tax credits tied to the U.S. Inflation Reduction Act, Quirk told Reuters on the sidelines of the CERAWeek energy conference in Houston.

(Reporting by Ernest Scheyder; Editing by Chris Reese)