Freeport-McMoRan Copper & Gold Inc., the largest publicly traded copper producer, is selling a stake worth as much as $200 million in a New Mexico power plant that supplies electricity to its local mines, two people familiar with the matter said.
Newmont Mining Corp. and Freeport- McMoRan Copper & Gold Inc. said they are still in talks with the government about resuming copper exports after the country granted approval for nine other companies.
Freeport-McMoRan Copper & Gold Inc. agreed with its workers to resume production at Grasberg in Indonesia’s Papua province on March 12, more than two weeks after violence among employees at the mine halted operations.
Freeport-McMoRan Copper & Gold Inc.’s Tenke Fungurume copper and cobalt mine has had to reduce operating rates because of frequent power outages in the past few weeks in the Democratic Republic of Congo.
Plains Exploration & Production Co. shareholders are anticipating positive results from an oil well discovery, stoking bets that Freeport-McMoRan Copper & Gold Inc. will be forced to boost its takeover bid.