PHOENIX--(BUSINESS WIRE)--Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today a notice
to redeem on November 15, 2013 at par all of the outstanding McMoRan
Exploration Co. 11.875% Senior Notes due 2014 (“Notes”). Approximately
$299.2 million aggregate principal amount of Notes is currently
outstanding.
Holders of record will receive the principal amount together with
accrued and unpaid interest from May 15, 2013 to the redemption date.
FCX expects to record a gain to net income of approximately $8 million
in the fourth quarter of 2013 in connection with the redemption. The
Bank of New York Mellon Trust Company, N.A., as trustee, has distributed
to the registered note holders written notice of the terms of the
redemption.
FCX is a premier U.S.-based natural resource company with an industry
leading global portfolio of mineral assets, significant oil and gas
resources and a growing production profile. FCX is the world’s largest
publicly traded copper producer.
FCX’s portfolio of assets includes the Grasberg minerals district in
Indonesia, one of the world’s largest copper and gold deposits;
significant mining operations in the Americas, including the large-scale
Morenci minerals district in North America and the Cerro Verde and El
Abra operations in South America; the Tenke Fungurume minerals district
in the Democratic Republic of Congo; and significant oil and natural gas
assets in North America, including reserves in the Deepwater Gulf of
Mexico, onshore and offshore California, in the Eagle Ford and
Haynesville shale plays and an industry leading position in the emerging
shallow water, ultra-deep gas trend on the Shelf of the Gulf of Mexico
and onshore in South Louisiana. Additional information about FCX is
available on FCX's website at www.fcx.com.
Contacts
Freeport-McMoRan Copper & Gold Inc.
Financial
Contacts:
Kathleen L. Quirk, 602-366-8016
or
David
P. Joint, 504-582-4203
or
Media Contact:
Eric
E. Kinneberg, 602-366-7994