nola.com: Freeport Copper to buy rival, move HQ to Phoenix
Freeport-McMoRan Copper & Gold Inc. of New Orleans said Sunday it has agreed to acquire a rival copper producer for $25.9 billion in cash and stock, and will relocate its headquarters from Poydras Street to Phoenix. The deal to buy Phelps Dodge Corp., if approved by shareholders, would create the world’s largest publicly traded copper mining company and the largest mining company in North America.
The change will affect fewer than 10 of the 300 or so employees who work in New Orleans for Freeport-McMoRan Copper & Gold and its related businesses … will maintain its New Orleans office for accounting and administrative functions, the company said.
Related:
NYT: Below A Mountain Of Wealth, A River Of Waste
CJR: Times Picayune vs. Jim Bob Moffett ca. 1995
Free Republic: Blanco Vetoes LNG Port (read the comments)
