Freeport to drop copper, gold from name after oil expansion

7/3/2014

Freeport to drop copper, gold from name after oil expansion

SIMON CASEY

PHOENIX, Arizona (Bloomberg) -- Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, is cutting the metals from its name after diversifying into energy.

It will be known as Freeport-McMoRan Inc. from July 14, “to simplify the company’s existing name and to reflect the company’s expanded portfolio of assets,” it said July 2 in a filing.

The Phoenix-based company expanded into oil last year with its acquisition of Plains Exploration & Production Co. and McMoRan Exploration Co. in two deals valued at about $9 billion.

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