|Day's Range||3.750 - 3.890|
|52 Week Range||1.580 - 3.970|
|PE Ratio (TTM)||56.99|
|Dividend & Yield||0.01 (1.07%)|
|1y Target Est||3.43|
Freeport-McMoRan Inc, the world's biggest publicly traded copper miner, and China Molybdenum Co Ltd (CMOC) have agreed to terminate discussions on CMOC's acquisition of Freeport's cobalt assets, Freeport said on Wednesday. China Moly had an exclusive right to negotiate for the assets, which includes the Kokkola Cobalt Refinery in Finland and the Kisanfu exploration project in the Democratic Republic of Congo, but that exclusivity period expired Feb. 28, said a Freeport spokesman. In May, China Moly agreed to pay $2.65 billion for Freeport's stake in the Tenke Fungurume mine in the southern Congolese copper belt.
Freeport-McMoRan Inc paid $33 million to resolve claims brought against it by Congo state miner Gecamines over the sale of its majority stake in the Tenke copper mine to China Molybdenum Co Ltd (CMOC), it said in a statement. The settlement, revealed in the company's fourth quarter 2016 earnings statement, ends actions including a complaint before the International Chamber of Commerce, Freeport-McMoRan said. CMOC purchased the 56 percent stake in May for $2.65 billion.
The Congolese government has dropped objections to Freeport-McMoRan Inc. and Lundin Mining Corp.’s $3.8 billion combined sales of one of the country’s biggest mines to Chinese companies, bringing an end ...