Freeport-McMoRan

Freeport-McMoRan Provides Update on Cerro Verde Mine in Peru

Thursday, March 26, 2020 - 10:25pm

Cerro Verde is engaged in discussions with Peruvian government authorities regarding health protocols which would enable Cerro Verde to conduct limited operations during the state of emergency and position Cerro Verde for a return to normal operations as restrictions are lifted.

Key Points: 
  • Cerro Verde is engaged in discussions with Peruvian government authorities regarding health protocols which would enable Cerro Verde to conduct limited operations during the state of emergency and position Cerro Verde for a return to normal operations as restrictions are lifted.
  • Cerro Verde is a major contributor to the national and local economy and is one of the largest employers in the Arequipa region.
  • Freeport-McMoRan owns 53.56% of Cerro Verde, which operates one of the worlds largest concentrating facilities near Arequipa, Peru.
  • In 2019, Cerro Verde produced 1.0 billion pounds of copper and 29 million pounds of molybdenum.

Freeport-McMoRan Issues Statement on Government Declaration of National Emergency in Peru

Tuesday, March 17, 2020 - 2:32pm

Freeport-McMoRan Inc. (NYSE: FCX) announced today that the Peruvian Government has issued a Supreme Decree and declaration of a National Emergency in its efforts to contain the outbreak of COVID-19.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) announced today that the Peruvian Government has issued a Supreme Decree and declaration of a National Emergency in its efforts to contain the outbreak of COVID-19.
  • Freeport-McMoRan owns 53.56% of Cerro Verde, which operates one of the worlds largest concentrating facilities near Arequipa, Peru.
  • Cerro Verde will work closely with Government authorities to be prepared to restart operations as soon as possible.
  • Cautionary Statement Regarding Forward-Looking Statements: This press release contains forward-looking statements in which FCX discusses its potential future performance.

Freeport-McMoRan Announces Senior Notes Offering

Wednesday, February 19, 2020 - 12:45pm

Freeport-McMoRan Inc. (NYSE: FCX) announced today that it intends to offer, subject to market and other conditions, senior notes in two tranches in an underwritten registered public offering.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) announced today that it intends to offer, subject to market and other conditions, senior notes in two tranches in an underwritten registered public offering.
  • FCX intends to use the net proceeds from the offering and, if necessary, cash on hand or available liquidity to fund its concurrent cash tender offers for up to $800 million aggregate purchase price of its 4.00% Senior Notes due 2021 (the 2021 notes), 3.55% Senior Notes due 2022, 3.875% Senior Notes due 2023 and 4.55% Senior Notes due 2024 and the payment of accrued and unpaid interest, premiums, fees and expenses in connection therewith.
  • To the extent all of the 2021 notes are not tendered and purchased in the tender offers, FCX may, but is not obligated to, use a portion of any remaining net proceeds from the offering to redeem all or a portion of the remaining 2021 notes in accordance with the provisions of the indenture governing the 2021 notes.
  • The offering is being made pursuant to an effective shelf registration statement filed with the SEC.

Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock

Wednesday, December 18, 2019 - 3:34pm

Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on February 3, 2020 to holders of record as of January 15, 2020 for its common stock.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on February 3, 2020 to holders of record as of January 15, 2020 for its common stock.
  • FCX is a leading international mining company with headquarters in Phoenix, Arizona.
  • FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum.
  • FCX is one of the world's largest publicly traded copper producers.

Freeport-McMoRan Inc. Completes Sale of Portion of Cobalt Business to Umicore

Monday, December 2, 2019 - 1:00pm

Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for total cash consideration of approximately $200 million, including approximately $50 million of working capital.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for total cash consideration of approximately $200 million, including approximately $50 million of working capital.
  • Under the terms of the agreement, FCX separated its cobalt business and Umicore acquired the refinery and cathode precursor business, which represents approximately 60 percent of the refinerys historical revenues.
  • FCX and its partners will retain Freeport Cobalts remaining cobalt business with operations in Kokkola, Finland and sales offices in the U.S., Europe and Asia.
  • The retained cobalt business is a leading global producer of cobalt fine powders, chemicals, catalyst, ceramics and pigments.

Freeport-McMoRan Inc. Announces Appointment of New Member to its Board of Directors

Monday, October 21, 2019 - 9:15pm

Freeport-McMoRan Inc. (NYSE: FCX) announced today the appointment of John J. Stephens to its Board of Directors and as a member of the Audit Committee of the Board of Directors.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) announced today the appointment of John J. Stephens to its Board of Directors and as a member of the Audit Committee of the Board of Directors.
  • He has responsibility for financial planning, corporate development, accounting, tax, auditing, treasury, investor relations and corporate real estate.
  • Prior to his current position, Mr. Stephens held a series of successive positions in the finance department.
  • FCXs Board of Directors is now comprised of six members, including five independent directors, who possess a diverse range of perspectives, skill sets and experience.

Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock

Wednesday, September 25, 2019 - 3:05pm

Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on November 1, 2019 to holders of record as of October 15, 2019 for its common stock.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on November 1, 2019 to holders of record as of October 15, 2019 for its common stock.
  • FCX is a leading international mining company with headquarters in Phoenix, Arizona.
  • FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum.
  • FCX is one of the world's largest publicly traded copper producers.

Freeport-McMoRan Announces Senior Notes Offering

Thursday, August 1, 2019 - 12:59pm

Freeport-McMoRan Inc. (NYSE: FCX) announced today that it intends to offer, subject to market and other conditions, senior notes in two tranches in an underwritten registered public offering.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) announced today that it intends to offer, subject to market and other conditions, senior notes in two tranches in an underwritten registered public offering.
  • FCX intends to use the net proceeds from the offering and, if necessary, cash on hand or available liquidity to fund the redemption of all of its outstanding 6.875% Senior Notes due 2023 and its concurrent cash tender offers for up to $430.0 million aggregate purchase price of its 4.00% Senior Notes due 2021, 3.55% Senior Notes due 2022 and 3.875% Senior Notes due 2023 and the payment of accrued and unpaid interest, premiums, fees and expenses in connection therewith.
  • The offering is being made pursuant to an effective shelf registration statement filed with the SEC.
  • The offering may be made only by means of a prospectus supplement and the accompanying prospectus.

Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock

Wednesday, June 26, 2019 - 3:05pm

Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on August 1, 2019 to holders of record as of July 15, 2019 for its common stock.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) today declared a cash dividend of $0.05 per share payable on August 1, 2019 to holders of record as of July 15, 2019 for its common stock.
  • FCX is a leading international mining company with headquarters in Phoenix, Arizona.
  • FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum.
  • FCX is one of the world's largest publicly traded copper producers.

Freeport-McMoRan Announces Agreement to Sell Portion of Cobalt Business

Thursday, May 23, 2019 - 9:10pm

Freeport-McMoRan Inc. (NYSE: FCX) announced today an agreement to sell its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for total consideration of approximately $150 million, plus working capital at the time of close.

Key Points: 
  • Freeport-McMoRan Inc. (NYSE: FCX) announced today an agreement to sell its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for total consideration of approximately $150 million, plus working capital at the time of close.
  • Under the terms of the agreement, FCX will separate its cobalt business prior to completing the transaction.
  • FCX and its partners will retain Freeport Cobalts remaining cobalt business with operations in Kokkola, Finland and with sales offices in the U.S., Europe and Asia.
  • The retained cobalt business is a leading global producer of cobalt fine powders, chemicals, catalyst, ceramics and pigments.