Freeport-McMoRan shares slump on earnings miss, Indonesia woes
Nicole Mordant
Updated
Freeport-McMoRan, the world's biggest publicly-listed copper miner, warned on Wednesday that it would need to start slashing output and jobs at its Indonesia mine by mid-February if it fails to get an export permit from the government.
The Phoenix, Arizona-based miner also reported weaker than expected fourth-quarter earnings and cut its 2017 copper and gold production forecasts because it expects lower output at its massive Grasberg mine in Indonesia, sending its shares tumbling.
Loading...
Reuters
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Mining
Fetching latest articles