PHOENIX--(BUSINESS WIRE)--
Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has filed with
the Securities and Exchange Commission a prospectus supplement under
which it may offer and sell shares of common stock having aggregate
gross proceeds of up to $1 billion from time to time through J.P. Morgan
Securities LLC, as its sales agent. Sales of the common stock, if any,
would be made by means of ordinary brokers’ transactions or block trades
on the New York Stock Exchange at market prices or as otherwise agreed
with its agent.
FCX intends to use the net proceeds from this offering for general
corporate purposes, which may include, among other things, the repayment
of amounts outstanding under its revolving credit facility and other
bank borrowings and the financing of working capital and capital
expenditures.
A copy of the prospectus supplement and prospectus relating to this
offering may be obtained by contacting J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717 or by calling 1-866-803-9204. An electronic copy of the prospectus
supplement will be available on the website of the Securities and
Exchange Commission at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or country in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under
the securities laws of any state or country.
FCX is a premier U.S.-based natural resources 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 operation
in South America; the Tenke Fungurume minerals district in the DRC; and
significant U.S. oil and natural gas assets in the Deepwater GOM,
onshore and offshore California and in the Haynesville natural gas
shale, and a position in the Inboard Lower Tertiary/Cretaceous natural
gas trend onshore in South Louisiana.
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Source: Freeport-McMoRan Inc.