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DOJ: Freeport-McMoran To Pay $6.8 Million For Natural Resource Damage Claims

DOW JONES NEWSWIRES Copper producer Freeport-McMoRan Corp. (FCX) and a subsidiary have agreed to pay $6.8 million to settle federal and state natural resource damage claims related to the Morenci copper mine in Arizona, the Department of Justice and the Department of the Interior said. The complaint, which was filed jointly by the U.S. and Arizona on Tuesday in the U.S. District Court in Arizona, alleges that the release of hazardous substances from Freeport-McMoran Morenci Inc.'s mine site damaged or destroyed surface waters, terrestrial habitat and wildlife and migratory birds in the area. The Morenci Mine was owned and operated by Phelps Dodge Corp. until it was acquired by Freeport-McMoRan in 2007. Under the consent decree lodged Tuesday in federal court, the company will pay $6.8 million to the Department of the Interior, which will be used for projects to restore or acquire wildlife and wildlife habitat in the impacted area. In February, the federal district court in New Mexico approved a consent decree between the U.S., New Mexico and Freeport-McMoRan that resolved natural resource damages claims at three mining sites in southwestern New Mexico. Shares closed at $36.99 Tuesday and were unchanged after hours. The stock is down 33% over the past 12 months. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Freeport Mcmoran (FCX)
DateTimeHeadline
11/30/201606:37:04Current Report Filing (8-k)
11/29/201623:35:00Freeport-McMoRan Commences Exchange Offers and Consent Solicitations
11/23/201617:14:55Amended Statement of Beneficial Ownership (sc 13d/a)
11/23/201608:12:17Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/23/201608:00:00Freeport-McMoRan Completes $1.5 Billion At-the-Market Equity...
11/16/201616:17:12Current Report Filing (8-k)
11/16/201616:10:00Freeport-McMoRan Completes Sale of Interest in TF Holdings Limited...
11/15/201609:40:00Lundin Mining to Sell Africa Mine Stake for $1.14 Billion
11/15/201608:39:00Lundin Mining to Sell Stake in African Mine for $1.14 Billion
11/09/201617:07:52Quarterly Report (10-q)
11/09/201617:00:16Current Report Filing (8-k)
11/09/201616:51:41Current Report Filing (8-k)
10/31/201617:30:00Anadarko Narrows Loss But Misses Quarterly Revenue, Sales Marks
10/28/201617:29:28Statement of Changes in Beneficial Ownership (4)
10/27/201610:08:00Global Mining, Metals M&A Deal Subdued in 3Q -Study
10/26/201616:13:52Current Report Filing (8-k)
10/25/201611:19:00Freeport-McMoRan Swings to Profit After String of Losses
10/25/201608:00:00Freeport-McMoRan Reports Third-Quarter and Nine-Month 2016 Results
10/14/201609:40:00Freeport-McMoRan Sells California Onshore Business
10/14/201609:32:00Freeport-McMoRan Sells California Onshore Business

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