Freeport-McMoRan Copper & Gold Inc. Outlook Revised To Negative On Acquisitions; Proposed Targets On Watch Positive Dec 12
- Language: English
- Published: December 2012
Good cost position; Leading market position as the second-largest copper producer in the world; and Significant reserve base with good diversification Political and legal risks of operating in Indonesia; Cyclical industry with volatile end-product prices; and Mature and high-cost U.S. operations. The ratings on Phoenix, Ariz.-based Freeport-McMoRan Copper & Gold Inc. reflect Standard & Poor's Ratings Services' expectation that copper and gold prices will likely remain high enough over the next couple of years to support Freeport's financial metrics at levels consistent with a modest financial risk profile. In addition, we expect that the company will continue to maintain a relatively conservative and balanced financial policy, which should help mitigate the country risk for its Indonesian operations and the commodity...
Companies mentioned in this report are: Freeport-McMoRan Copper & Gold Inc.,Phelps Dodge Corp.,Cyprus Amax Minerals Co.
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Research Type: Full Analysis
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Freeport-McMoRan Copper & Gold Inc.,Phelps Dodge Corp.,Cyprus Amax Minerals Co.