Freeport loss doubles as low prices bite

April 26, 2016

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US diversified miner Freeport McMoRan has booked a $3.8-billion write-down of the carrying value of its oil and gas properties, on the back of lower West Texas Intermediate prices.
The company reported a net loss attributable to common stock totalling $4.2-billion, or $3.35 a share, for first-quarter ended March 31.

Category: General