Freeport-McMoRan Copper & Gold Inc's Chilean copper mine Candelaria has attracted the interest of Magris Resources, the private equity firm founded by former Barrick Gold Corp chief executive Aaron Regent, the Wall Street Journal reported on Thursday, citing unnamed sources. It is an open secret that Freeport is running a sale process for Candelaria and the mine has been on the market for some time, a source who has been involved in the process told Reuters.Mining giant Freeport is considering asset sales as part of its plan to reduce its $20.9 billion debt load after it surprised the market in late 2012 with its move into the U.S. energy market with a $9 billion purchase of both Plains Exploration & Production Co and McMoRan Exploration Co.The company, which hopes to significantly reduce its debt by the end of 2016, agreed in May to sell $3.1 billion worth of oil assets to Encana Corp.Toronto-based Magris was interested in the Glencore Xstrata's Las Bambas copper mine in Peru last year, Reuters reported at the time, but the mine ultimately went to a Chinese consortium for $6 billion.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 0.71% or $0.13/share to $18.47. In the past year, the shares have traded as low as $13.43 and as high as $21.45. On average, 9610260 shares of ABX exchange hands on a given day and today's volume is recorded at 6431407.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 0.2% or $0.04/share to $19.61. In the past year, the shares have traded as low as $14.22 and as high as $23.78. On average, 2479880 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 2264183.
Freeport-McMoRan Copper & Gold Inc. (FCX) is an international mining company. Shares of FCX traded higher by 1.77% or $0.67/share to $38.50. In the past year, the shares have traded as low as $26.95 and as high as $38.09. On average, 8379830 shares of FCX exchange hands on a given day and today's volume is recorded at 10948102.
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