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Freeport McMoRan: Will Icahn Bring Sale Of Energy Assets?

Shares of Freeport-McMoRan (FCX) are up 1.6% today, having calmed down following headlines that Carl Icahn is putting money to work in the beleaguered copper-mining giant.

At a Freeport McMoRan copper and gold mining complex in Papua province, Indonesia.

Shares of the Arizona-based international company also mines gold and molybdenum and has oil-and-gas operations are up more than 8% this week, but remain down 55% so far this year.

Freeport cut its 2016 mining capital expenditure guidance by about 25% to $700 million this week, and said it would cut 2016-2017 copper production by about 150 million pounds per year. It also said it would cut operating...