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Freeport-McMoRan Inc (FCX.N)

FCX.N on New York Stock Exchange

12.21USD
27 Mar 2017
Change (% chg)

$-0.60 (-4.68%)
Prev Close
$12.81
Open
$12.20
Day's High
$12.32
Day's Low
$11.91
Volume
8,166,804
Avg. Vol
6,952,525
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$17.06
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$8.77

Latest Key Developments (Source: Significant Developments)

Freeport-McMoRan says as of Feb 24, PT-FI has not obtained approval to export concentrate - SEC Filing
Friday, 24 Feb 2017 02:41pm EST 

Freeport-McMoRan Inc : As of Feb 24, 2017, PT-FI has not obtained approval to export concentrate and production remains suspended - SEC filing .PT-FI has begun to adjust cost structure, reduce workforce and spending, suspend investments in underground development projects.  Full Article

Freeport-McMoran updates status of PT Freeport Indonesia operations
Monday, 20 Feb 2017 09:28am EST 

Freeport-McMoran Inc : Freeport-McMoran updates status of PT Freeport Indonesia operations . Following more than five years of discussions of PT-FI with Indonesian government, parties have failed to reach agreement . Says PT smelting has advised PT-FI that it expects to resume operations in March 2017 . PT-FI has advised government that attempts to enforce regulations on PT-FI, which were passed in Jan and Feb, violates PT-FI's COW . Assuming resumption of PT Smelting's operations in March, continuation of ban on exports, estimates Q1 sales to be reduced . For each month of delay in obtaining approval to export, PT-FI's share of production is projected to be reduced by about 70 million pounds of copper .For each month of delay in obtaining approval to export, PT-FI's share of production is projected to be reduced by about 70 thousand ounces of gold.  Full Article

Freeport to cut Indonesia operations if export approval delayed
Friday, 3 Feb 2017 09:17am EST 

Freeport-mcmoran Inc : Freeport-McMoran updates status of pt freeport indonesia operations . Freeport-Mcmoran inc says pt freeport indonesia continues to seek approval from indonesian authorities for export of its copper concentrates . Freeport-Mcmoran - have been actively engaged with indonesian governmental authorities to enable full operations at pt-fi to continue without disruption . Freeport-Mcmoran -continuing delay in obtaining rights to export copper concentrates will require pt-fi to undertake near-term actions to reduce production . Freeport-Mcmoran -under reduced operating plans, pt-fi will be required to significantly adjust its cost structure, reduce its work force and spending .Freeport-Mcmoran - for each month of delay in obtaining approval, pt-fi sees share of production reduced by about 70 million pounds copper, 70 thousand ounces gold.  Full Article

Moody's says Indonesia's new mining regulations credit negative for FCX
Friday, 27 Jan 2017 09:04am EST 

Freeport-McMoran Inc : Moody's says Indonesia's new mining regulations credit negative for FCX .Moody's-Indonesia's new mining regulations credit negative for FCX as ability to achieve upgrade could be of longer duration than denoted by positive outlook.  Full Article

Freeport Indonesia mine would need to cut output by mid-Feb if no export license - CEO
Wednesday, 25 Jan 2017 10:58am EST 

: Better Demand, Low Inventories And Future Deficits Point To "Bright Future" For Copper - Freeport-mcmoran CEO Richard Adkerson says . Freeport ceo says company doesn't have to do m&a as it has strong internal projects but with improving balance sheet and copper price could be either a buyer or seller . Freeport ceo says weaker performance at grasberg mine in indonesia is due to workers not meeting productivity standards, raising grievances . Freeport ceo says working with grasberg union and management to rectify weaker productivity at the mine . Freeport ceo says that under its contract with indonesian government, government cannot change its obligations by adopting new laws and regulations . Freeport ceo says company has been given "indications" by indonesia government that it will be allowed to resume copper concentrate exports while it negotiates converting its contract . Freeport ceo says it could take three months to deal with process of converting its contract in indonesia to a special operating license . Freeport ceo says there is a strike at gresik copper smelter in indonesia, which has impact on grasberg mine shipments to smelter.  Full Article

Freeport-McMoran reports Q4 and year ended Dec 31, 2016 results
Wednesday, 25 Jan 2017 08:00am EST 

Freeport-McMoran Inc :Freeport-McMoran reports fourth-quarter and year ended December 31, 2016 results.  Full Article

Freeport-McMoran completes sale of interest in Tf Holdings for $2.65 bln
Wednesday, 16 Nov 2016 04:10pm EST 

Freeport-McMoran Inc :Freeport-Mcmoran completes sale of interest in TF Holdings Limited for $2.65 billion in cash.  Full Article

Lundin Mining agrees to sell interest in TF Holdings for $1.136 bln
Tuesday, 15 Nov 2016 02:00am EST 

Lundin Mining Corp : Lundin Mining-consideration to be received by company equal to implied value of co's stake in TF Holdings based on deal between Freeport-Mcmoran Inc . Lundin Mining-in connection with deal, Lundin Mining has waived its right of first offer to acquire freeport's indirect interest in tf holdings . Lundin-Termination fee of $100 million, which has been secured by a letter of credit that has been received by co, payable to co in certain circumstances . Lundin Mining has waived its right of first offer to acquire freeport's indirect interest in TF Holding . Lundin-Agreed to sell indirect interest in TF Holdings Ltd to bhr partners affiliate for $1.136 billion in cash and contingent consideration of up to $51.4 million . Lundin -contingent consideration consists of $25.7 million if average copper price exceeds $3.50/pound during 24-month period beginning on Jan 1, 2018 . Lundin -contingent consideration consists of $25.7 million if average cobalt price exceeds $20 per pound, during 24-month period beginning on Jan 1, 2018 .Lundin Mining announces agreement to sell interest in TF Holdings for $1.136 billion.  Full Article

Freeport does not expect to sell more mining assets - CEO
Tuesday, 25 Oct 2016 11:24am EDT 

Freeport-McMoRan : CEO says Congo state miner Gecamines' claim of pre-emptive rights on Tenke mine has no legal basis . Freeport CEO says shortfall in 2016 copper production at its Indonesia operations will be "substantially recovered" in 2017 and "fully recovered" in 2018 . Freeport CEO says does not expect to do any more mining asset sales, may sell more oil and gas assets .Ceo says small increases in copper demand or supply disruptions could move market to deficit.  Full Article

Freeport-Mcmoran expects capex of $2.8 bln in 2016
Tuesday, 25 Oct 2016 08:00am EDT 

Freeport-mcmoran Inc : Freeport-Mcmoran reports third-quarter and nine-month 2016 results .Freeport-Mcmoran inc - capital expenditures are expected to approximate $2.8 billion for year 2016.  Full Article

More From Around the Web

Freeport-McMoRan sees no material impact on output from Peru strike

LIMA Freeport-McMoRan Inc said Thursday that a nearly two-week strike has not materially impacted production levels at its Cerro Verde copper mine in Peru, the country's biggest, though the union said output has been cut in half.