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| Freeport-McMoRan Copper & Gold acquires Phelps Dodge  Freeport-McMoRan Copper & Gold Inc. and Phelps Dodge Corporation have signed a definitive merger agreement under which FCX will acquire Phelps Dodge for approximately $25.9 billion in cash and stock, creating the world's largest publicly traded copper company. The combined company will be the largest North American-based mining company. FCX currently operates the world-class Grasberg mine, located in Papua, Indonesia, which is the world's largest copper and gold mine in terms of reserves. Phelps Dodge has mines in operation or under development in North and South America, and Africa, including the world-class Tenke Fungurume development project in the Democratic Republic of the Congo. The combined company will represent one of the most geographically diversified portfolios of operating, expansion and growth projects in the copper mining industry.write your comments about the article :: © 2006 Construction News :: home page |