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Freeport: does not intend to sell its own shares at the moment

iconOct 25, 2018 09:52
Source:SMM

SMM10, 25th: Richard Adkerson, chief executive of Freeport, said Freeport-McMoRan Inc. There are no plans to sell shares in the company at this time. Earlier this month, he said any strategic move was possible after the world's largest publicly traded copper producer transferred most of control of Indonesia's Grasberg copper mine to local companies-as long as it was in the best interests of shareholders. The complex deal is expected to close by the end of the year or early 2019. Despite forecasts of annual supply shortages in the global copper market, copper prices have fallen this year as trade tensions could affect global demand. Freeport shares also fell in 2018, in part because of uncertainty about when the Grasberg trading problem would be resolved.

Freeport
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