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Press Releases

Indonesia's parliament reappoints scandal-hit speaker

JAKARTA, Nov 30- Indonesia's parliament on Wednesday reappointed Setya Novanto as its speaker, reinstating him despite a scandal last year when he was accused of trying to extort $1.8 billion of shares from the local unit of U.S. mining giant Freeport McMoran Inc.. Novanto's political career has continued to flourish despite the scandal, and in May he was named...

Source: Reuters

Loons and lager, ducks on draft: Birders, brewers form flock

Bird-and-beer happenings are taking place from Los Angeles to Minneapolis to Hampton, New Hampshire. One of the more successful tours is "Birds On Tap Roadtrip," located in beer-loving, bird-rich Maine and now in its second year. They partner with Maine Brew Bus, a lime green bus that shuttles people to the state's many breweries and serves as a kind of Mystery...

Source: The Associated Press

UPDATE 1-Freeport Indonesia hopes to sell 10.64 pct stake through IPO -new CEO

*Divestment among requirements to extend Freeport contract. Under a 2014 memorandum of understanding with the government, Freeport agreed to divest a 30 percent stake by 2019 and invest in domestic processing to win an extension of its contract beyond 2021.. The government already has a 9.36 percent stake in Freeport's Indonesian operations, and had hoped to...

Source: Reuters

Freeport says debt repair plan complete with $1.5 bln offering

TORONTO, Nov 23- Freeport-McMoRan Inc, the world's largest publicly listed copper producer, said on Wednesday it raised $1.5 billion in an equity offering, completing its plan to reduce debt with proceeds from asset sales and new equity. Freeport, which has sold mining and energy assets in deals worth $6.6 billion this year, said it can now meet its debt reduction...

Source: Reuters

Freeport-McMoRan Completes $1.5 Billion At-the-Market Equity Offering

PHOENIX---- Freeport-McMoRan Inc. announced today the completion of its at-the-market offering of common stock announced on July 27, 2016. FCX raised $1.5 billion in gross proceeds through the sale of 116.5 million shares of FCX common stock in open market transactions since July 28, 2016. Richard C. Adkerson, President and Chief Executive Officer, said,“ The...

Source: Business Wire

Nevsun Reports Lower Zone Drill Results at Timok

VANCOUVER, Nov. 22, 2016/ PRNewswire/- Nevsun Resources Ltd. is pleased to announce new assay results from drilling of the Lower Zone at the Company's Timok copper-gold project. With our joint venture partner, Freeport-McMoRan, we have embarked on a $20 million drilling program focused on the Lower Zone porphyry. The Project is focussed on the Cukaru Peki deposit...

Source: PR Newswire

UPDATE 2-Freeport closes Congo mine sale; Trump appointees keenly awaited

LIMA/ TORONTO, Nov 16- Freeport-McMoRan Inc said on Wednesday it had wrapped up the $2.65 billion sale of its stake in the Democratic Republic of Congo's Tenke mine, and the company's chief executive said he hopes negotiations will ease objections of Congo's state miner to the deal. The CEO, Richard Adkerson, told Reuters in an interview that the surprise victory...

Source: Reuters

CMOC Announces Acquisition of Freeport-McMoRan’s Indirect 56% Interest in Tenke Fungurume for US$2.65 billion (USD)

HONG KONG& SHANGHAI---- China Molybdenum Co., Ltd is pleased to announce that all conditions precedent set out in the Stock Purchase Agreement with Freeport-McMoRan to acquire their indirect 70 percent interest in TF Holdings Limited has been fulfilled and the transaction completed. TFHL is a Bermuda holding company that indirectly owns an 80 percent interest...

Source: Business Wire

UPDATE 1-Freeport closes Congo mine sale, CEO talking to state miner

LIMA, Nov 16- Freeport-McMoRan Inc said on Wednesday it had completed the $2.65 billion sale of its stake in the Democratic Republic of Congo's Tenke mine, as chief executive Richard Adkerson said in an interview that he hopes negotiations will resolve the state miner's opposition to the deal. Freeport, the world's largest publicly-listed copper producer,...

Source: Reuters

Freeport-McMoRan Completes Sale of Interest in TF Holdings Limited for $2.65 Billion in Cash

PHOENIX---- Freeport-McMoRan Inc. announced today that it has completed the indirect sale of its 70 percent interest in TF Holdings Limited to China Molybdenum Co., Ltd. for $2.65 billion in cash. Under the terms of the agreement, FCX could also receive contingent consideration of up to $120 million in cash, consisting of $60 million if the average copper price...

Source: Business Wire