PHOENIX -- (Business Wire)
Freeport-McMoRan Inc. (NYSE: FCX) announced today the expiration of the
previously announced consent solicitations by it and its wholly owned
subsidiaries, Freeport-McMoRan Oil & Gas LLC (FM O&G) and FCX Oil & Gas
Inc. (FCX O&G). The consent solicitations expired at 5:00 p.m., New York
City time, on September 28, 2016. As of the expiration time, FCX, FM O&G
and FCX O&G had not received the consent of holders of at least a
majority in aggregate principal amount outstanding of each series of
notes subject to the consent solicitations. As a result, no consent fees
will be paid and FCX plans to merge FM O&G into FCX prior to completing
its previously announced Deepwater Gulf of Mexico sale transaction.
FCX is a premier U.S.-based natural resources company with an
industry-leading global portfolio of mineral assets. 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. Additional information about FCX is available on FCX's
website at "fcx.com."
Cautionary Statement Regarding Forward-Looking Statements:This
press release contains forward-looking statements, which are all
statements other than statements of historical facts, such as
expectations related to FCX’s plans to merge FM O&G into FCX and the
consummation of the Deepwater Gulf of Mexico sale transaction. The words
“anticipates,” “may,” “can,” “plans,” “believes,” “estimates,”
“expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,”
“to be,” ”potential" and any similar expressions are intended to
identify those assertions as forward-looking statements. FCX cautions
readers that forward-looking statements are not guarantees of future
performance and actual results may differ materially from those
anticipated, projected or assumed in the forward-looking statements.
Important factors that can cause FCX’s actual results to differ
materially from those anticipated in the forward-looking statements
include the ability of the parties to satisfy closing conditions to
consummate the Deepwater Gulf of Mexico sale transaction and other
factors described in more detail under the heading “Risk Factors” in
FCX's Annual Report on Form 10-K for the year ended December 31, 2015,
filed with the U.S. Securities and Exchange Commission (SEC) as updated
by FCX’s subsequent filings with the SEC.
Investors are cautioned that many of the assumptions upon which FCX's
forward-looking statements are based are likely to change after the
forward-looking statements are made, including for example commodity
prices, which FCX cannot control, and production volumes and costs, some
aspects of which FCX may not be able to control. Further, FCX may make
changes to its business plans that could affect its results. FCX
cautions investors that it does not intend to update forward-looking
statements more frequently than quarterly notwithstanding any changes in
its assumptions, changes in business plans, actual experience or other
changes, and FCX undertakes no obligation to update any forward looking
statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160928006549/en/
Contacts:
Freeport-McMoRan 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
Source: Freeport-McMoRan Inc.
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