Reuters reported that , in a move intended to make them a more significnat player in energy, Freeport-McMoRan Copper & Gold is buying Plains Exploration & Production Co and McMoRan Exploration Co for $9 billion in cash and stock.
As quoted in the market report:
The combination would create a company with gold, oil and natural gas assets around the world. Freeport said the new entity, on a pro-forma basis, would generate almost three-quarters of its 2013 operating earnings from mining and the rest from oil and gas.
There Is No Guide to Gold That is More Concise, Clear and Authoritative.Download our FREE Special Report, Is Gold a Good Investment? Gold Price Forecast 2015 .