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Freeport profit drops as prices fall
January 22, 2014 / 1:20 PM / 4 years ago

Freeport profit drops as prices fall

Jan 22 (Reuters) - Miner Freeport McMoRan Copper & Gold Inc reported a decline in fourth-quarter earnings on Wednesday as copper and gold prices dropped.

Net income at the world’s biggest publicly traded copper producer fell to $707 million, or 68 cents a share, from $743 million, or 78 cents a share, a year earlier.

Revenue rose to $5.89 billion from $4.51 billion, boosted by the company’s recent oil and gas acquisitions.

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