Freeport Announces Additional Measures To Combat Weak Commodity Pricing Environment

The company has announced further reductions in capital spending for its oil and gas businesses, following on from previously announced reductions earlier in the year. Furthermore, the company has announced additional curtailments in its copper and molybdenum production, as well as the suspension of its common stock dividend. These announcements are good moves in the prevailing market conditions as the steps outlined by the management will help the company bolster its flagging cash flows. The pr...