HALISTER: Freeport-McMoRan to Sell TF Stake for $2.65b in Cash

Freeport-McMoRan to Sell TF Stake for $2.65b in Cash

(Bloomberg) -- Freeport-McMoRan selliing interests in TF Holdings Ltd to China Molybdenum for $2.65b in cash and contingent consideration of up to $120m (consists of $60m if avg copper price exceeds $3.50/lb and $60m if avg cobalt price exceeds $20/lb during 24-month period between 2018 and 2019).
  • NOTE: TF Holdings indirectly owns 80% in Tenke Fungurume Mining S.A.
  • FCX also negotiating exclusively with China Molybdenum to sell interests in Freeport Cobalt, including the Kokkola Cobalt Refinery in Finland, for $100m and Kisanfu Exploration project in Democratic Republic of Congo for $50m
Statement Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
FCX US (Freeport-McMoRan Inc)
3993 HK (China Molybdenum Co Ltd)
45441Z US (Democratic Republic of Congo)

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