By How Much Can Freeport-McMoRan Lower Its Outstanding Debt By Year End?
Strengthening the company’s balance sheet is one of the key areas for Freeport-McMoRan’s management this year. The company recently announced two deals involving assets sales, the proceeds of which have been earmarked for debt reduction. Freeport announced the sale of a 13% stake in the Morenci copper mine for $1 billion, which is expected to close by mid-2016. The company also announced the planned sale of its interests in TF Holding Limited, which represents its interests in its copper mining operations in Africa. This transaction is expected to close in Q4 2016. If the company stays true to its word and uses the proceeds of these transactions for debt reduction, the company can lower its outstanding debt by around 18% by year end.
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Have more questions about Freeport-McMoRan? See the links below.
- What Is Freeport-McMoRan’s Fundamental Value Based On 2015 Results?
- What Is Freeport-McMoRan’s Revenue And EBITDA Breakdown?
- How Has Freeport-McMoRan’s Revenue Composition Changed Over The Last 5 Years?
- By What Percentage Did Freeport-McMoRan’s Revenue & EBITDA Decline Over The Last 5 Years?
- By What Percentage Can Freeport-McMoRan’s Revenue & EBITDA Change Over The Next 3 Years?
- How Will Freeport-McMoRan’s Revenue Composition Change by 2020?
- Why Have Copper Prices Declined Over The Past Year?
- Why Is China Important For The Global Copper Industry ?
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