Freeport-McMoRan Inc. (NYSE: FCX), the biggest publicly traded copper miner, produced more than expected last quarter and raised its annual sales projection in a much needed boost to tight global supplies of the metal. In the first quarter, Freeport reported output of 910 million pounds compared with the 825.4 million average of analysts’ estimates compiled by Bloomberg. Company’s shares are 40% higher since the beginning of the year.