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Stock Market & Financial Investment News

News Breaks
June 4, 2014
09:51 EDTFCXFreeport McMoRan says copper demand in China remains healthy
Says fundamental copper demand in China remains healthy and is overall optimistic about the country's growth. Says U.S. copper demand improving. Says automotive and construction were key drivers for U.S. copper demand after a harsh winter. Says Europe copper demand recovering from a low base. Says future copper outlook supported by positive fundaments. In terms of the copper markets, says 11.2Mt copper shortfall will need to be made up by expansions and new projects. Says in terms of the Brownfield development projects, the Cerro Verde Mill Expansion and the Morenci Mill Expansion combined is expected to produce an over 1B pounds of copper per annum increase by FY16. In regards to its PT-FI operating status, the company says it will make contingency plans for significant cost and CapEx reductions if necessary. Says committed to a positive long-term partnership with Indonesia for the benefit of all stakeholders. Says seeks opportunities to repay or refinance higher cost debt assumed in acquisitions. Comments made in slides during Freeport McMoRan's presentation at the Deutsche Bank Global Industrials and Basic Materials conference.
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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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