Last week, BHP Billiton (BHP) officially announced the delay of the major expansion project at Olympic Dam. While not a complete surprise due to falling commodity prices and escalating costs in Australia, a prime beneficiary in Freeport McMoRan Copper & Gold (FCX) hasn't gained much from the announcement.
Freeport-McMoRan is a leading international mining company with geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. The portfolio of assets includes the Grasberg minerals district in Indonesia, the world's largest copper and gold mine in terms of recoverable reserves; significant mining operations in North America and the Cerro Verde and El Abra operations in South America; and the Tenke Fungurume minerals district in the Democratic Republic of the Congo.
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