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Freeport sells down Morenci

Phoenix-based firm cuts stake in North America's biggest copper mine

Mining Journal
Morenci has a plus-400,000 tonne per annum of copper capacity (photo: TJ Blackwell)

Morenci has a plus-400,000 tonne per annum of copper capacity (photo: TJ Blackwell)

The US$1 billion cash deal, which values the whole operation at $7.7 billion, will see Freeport cut its stake in Morenci from 85% to 72%, with Sumitomo now holding the remaining 28%. After reporting...

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