The Conversation (0)
Despite Criticism, Freeport-McMoRan Says Oil & Gas Acquisition Important Strategic Step
Jan. 23, 2013 08:55AM PST
Oil and Gas InvestingMining Weekly reported that Freeport-McMoRan says that their move into the energy space last month is an important strategic step towards making the company a more serious contender as a resource company.
Mining Weekly reported that Freeport-McMoRan says that their move into the energy space last month is an important strategic step towards making the company a more serious contender as a resource company.
As quoted in the press release:
Freeport, the world’s largest listed copper producer, said early last month it would buy Plains Exploration & Production and McMoRan Exploration to enter the energy business. The $9-billion bid to buy the two US oil and gas companies has been criticised by investors as an expensive and unnecessary distraction.