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Actionable news in FCX: FreePORT-MCMORAN Inc,

Freeport-McMoran (FCX) Stock Higher After Announcing Asset Sale

NEW YORK (TheStreet) -- Freeport-McMoRan (FCX - Get Report) stock is rising by 2.34% to $11.79 in mid-afternoon trading on Friday, as the company has agreed to sell a package of oil and gas mineral assets to BlackStone Minerals (BSM) for $102 million.

The transaction will be funded with on-hand cash as well as borrowings under Black Stone Minerals's credit facility, Black Stone Minerals said in a statement.

The deal is expected to close during the second quarter of 2016.

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