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Miner Freeport-McMoRan reports quarterly loss as commodity prices fall
January 26, 2016 / 1:18 PM / 2 years ago

Miner Freeport-McMoRan reports quarterly loss as commodity prices fall

Jan 26 (Reuters) - Diversified U.S. miner and oil producer Freeport-McMoRan Inc reported a bigger fourth-quarter loss, squeezed by plunging commodity prices and flagging Chinese demand.

The company said it is taking further actions to reduce its hefty debt load.

The Phoenix, Arizona-based company, which is under pressure from activist investor Carl Icahn, said its quarterly net loss attributable to common stock was $4.08 billion, or $3.47 per share, compared with a loss of $2.85 billion, or $2.75 per share, last year.

Revenue fell nearly 28 percent to $3.8 billion. (Reporting by Nicole Mordant in Vancouver and Narottam Medhora in Bengaluru; Editing by Shounak Dasgupta)

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