Freeport-McMoran (FCX) Plans Cost Reductions
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Freeport may cut output at small N. American mines: analysts
July 28, 2015 2:05 PM EDTBy Nicole Mordant
(Reuters) - Freeport-McMoRan Inc may cut output at its small North American copper and molybdenum mines to help it reduce costs, analysts said on Tuesday after the miner and oil producer announced a cost and spending review amid weak commodity prices.
Freeport, the biggest U.S.-listed copper miner, said it is reviewing its mining and oil and gas businesses for significant additional cuts in capital spending and operating costs because of weak prices for copper, molybdenum, oil and gold.
Shares in Arizona-based Freeport leapt on the announcement, and were last up 9.4... More
