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Stock Market & Financial Investment News

News Breaks
March 20, 2014
08:02 EDTFCXFreeport McMoRan Oil & Gas wins 20 tracts in Gulf of Mexico lease sale
Freeport-McMoRan announced that its oil & gas segment, Freeport-McMoRan Oil & Gas was the apparent high bidder on 20 tracts in the Central Gulf of Mexico Oil and Gas Lease Sale 231 with a total investment of approximately $330M net to FM O&G. The bids are subject to approval by the U.S. Bureau of Ocean Energy Management and these potential investments were included in the company’s previously reported FY14 capital budget. FM O&G winning bids were primarily focused on high-impact, drillable targets in the Mississippi Canyon and Atwater Valley areas to complement FM O&G’s existing infrastructure and production facilities and add several new exploration plays. The blocks, which cover approximately 106K gross acres, range in water depths up to 6K feet. The company expects to be notified and designated operator of these blocks by 3Q14.
News For FCX From The Last 14 Days
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October 20, 2014
06:20 EDTFCXFreeport McMoRan upgraded to Neutral from Sell at Citigroup
Citigroup upgraded Freeport McMoRan to Neutral citing the recent pullback in shares. Citi keeps a $31 price target for the stock.
October 13, 2014
13:11 EDTFCXFreeport receives approval to resume open-pit mining in Indonesia, Reuters says
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October 8, 2014
18:20 EDTFCXFreeport California assets may receive bid from McClendon, Bloomberg reports
Aubrey McClendon is mulling a purchase of Freeport McMoRan's assets in California for up to $5B, Bloomberg reports, citing people with knowledge of the matter. McClendon's American Energy Partners has been looking to raise capital to fund the potential deal, and the company would turn Freeport's assets into a newly created operating unit, the people added. Freeport McMoRan is speaking with other potential suitors, and the dead is not finalized, according to the people. Reference Link
12:52 EDTFCXFreeport faces mounting pressure to improve safety at copper mine, Reuters says
Workers at Freeport McMoRan's Indonesia copper mine are looking for face-to-face talks with local management and may commence a mine blockade or strike action following a fatal accident at the mine, Reuters reports, citing union official Albar Sabang. If workers safety concerns and other demands are ignored by management, fresh protests and strikes may occur which can hinder copper exports for Freeport, Sabang added. Reference Link
October 6, 2014
16:15 EDTFCXFranco-Nevada to acquire gold, silver stream from Lundin Mining for $648M
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16:08 EDTFCXFreeport McMoRan to sell interests in Candelaria/Ojos for up to $2B
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15:58 EDTFCXFreeport McMoRan set to sell Chilean mine to Lundin, Globe and Mail says
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12:54 EDTFCXMining stocks rise after report of potential Rio Tinto, Glencore merger planning
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12:08 EDTFCXCliffs Natural, Freeport mover higher after Bloomberg report on Rio Tinto
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