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Freeport-McMoRan sells 13 pct stake in Morenci Mine to Sumitomo for $1 billion

MINING.COM Staff Writer | February 15, 2016 | 7:59 am Base Metals Top Companies Copper 

Freeport-McMoRan (NYSE:FCX) is selling a 13 percent ownership interest in its Morenci Mine to Sumitomo Metal Mining Co., Ltd. (SMM) for $1.0 billion in cash. Morenci is an open-pit, copper mine located in Arizona. The Morenci unincorporated joint venture is currently...

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