Freeport-McMoRan Inc. (NYSE: FCX) reported today that its subsidiary, PT Freeport Indonesia (PT-FI), continues to seek approval from Indonesian authorities for the export of its copper concentrates, consistent with its rights under its Contract of Work (COW). To date, this approval has not been granted. Richard C. Adkerson, FCX President and Chief [...]
Freeport-McMoRan Inc. (NYSE: FCX): Net income attributable to common stock totaled $292 million, $0.21 per share, for fourth-quarter 2016. After adjusting for net charges totaling $59 million, $0.04 per share, fourth-quarter 2016 adjusted net income attributable to common stock totaled $351 million, $0.25 per share. Consolidated sales (including [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its onshore California properties to Sentinel Peak Resources California LLC for $592 million in cash, before closing adjustments. Under the terms of the agreement, FCX has the right to receive additional proceeds of $50 million per annum in each [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its Deepwater Gulf of Mexico (GOM) properties to Anadarko Petroleum Corp. (NYSE: APC) for $2.0 billion in cash, before closing adjustments. In connection with this transaction, FCX also settled a preferred stock obligation with its consolidated [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today the early results of its previously announced offers to eligible holders to exchange any and all of the outstanding senior notes issued by Freeport-McMoRan Oil & Gas LLC (FM O&G), FCX Oil & Gas LLC and FMSTP Inc., as co-issuers, and guaranteed by FCX, for (1) new senior notes to be issued by FCX and [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has commenced offers to eligible holders to exchange any and all of the outstanding senior notes issued by Freeport-McMoRan Oil & Gas LLC (FM O&G), FCX Oil & Gas LLC and FMSTP Inc., as co-issuers, and guaranteed by FCX for (1) new senior notes to be issued by FCX and guaranteed by FM O&G and [...]
Freeport-McMoRan Inc. (NYSE: FCX) 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. The shares were issued pursuant to FCX’s shelf [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the indirect sale of its 70 percent interest in TF Holdings Limited (“TFHL”) to China Molybdenum Co. Ltd.. for $2.65 billion in cash. TFHL is a Bermuda holding company that indirectly owns an 80 percent interest in Tenke Fungurume Mining S.A. (Tenke) located in the [...]
Freeport-McMoRan Inc. (NYSE: FCX): Net income attributable to common stock totaled $217 million, $0.16 per share, for third-quarter 2016. After adjusting for net gains totaling $39 million, $0.03 per share, third-quarter 2016 adjusted net income attributable to common stock totaled $178 million, $0.13 per share. Consolidated sales (including [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today a purchase and sale agreement to sell its onshore California oil and gas properties to Sentinel Peak Resources California LLC for total consideration of $742 million, including contingent consideration. Under the terms of the agreement, FCX will receive cash consideration of $592 million at closing [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today the expiration of the previously announced consent solicitations by it and its wholly owned subsidiaries, Freeport-McMoRan Oil & Gas LLC (FM O&G) and FCX Oil & Gas Inc. (FCX O&G). The consent solicitations expired at 5:00 p.m., New York City time, on September 28, 2016. As of the expiration time [...]
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it and its wholly owned subsidiaries, Freeport-McMoRan Oil & Gas LLC and FCX Oil & Gas Inc., have extended the expiration date for their previously announced solicitation of consents from holders of their outstanding 6.125% Senior Notes due 2019, 6.50% Senior Notes due 2020, 6.625% Senior Notes [...]
