The Global Resource For Connecting Buyers and Sellers

Freeport-McMoRan to launch auction for oil and gas assets – sources

Freeport-McMoRan, the US miner that was targeted by activist investor Carl Icahn earlier this year, is planning to run an auction process for its oil and gas assets in early 2016, according to people familiar with the matter.

The process would be the company’s first concrete move to end its ill-fated foray into oil and gas after it said in October it would explore strategic options for the assets, including a spinoff, joint venture or public offering.