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Freeport-McMoRan Companies Transitioning to Cobalt LME Pricing

PHOENIX, AZ, October 25, 2013 — Freeport-McMoRan Copper & Gold Inc. (FCX) announces that the pricing for its cobalt transactions will be on the basis of LME prices. This change from Metal Bulletin-based pricing to LME-based pricing for cobalt will include all Freeport Cobalt product and feed purchase contracts as well as Tenke Fungurume cobalt hydroxide supply contracts and will take effect January 1, 2014.

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Freeport-McMoRan Completes Acquisition of Kokkola Cobalt Refinery

PHOENIX, AZ, March 29, 2013 — Freeport-McMoRan (NYSE: FCX) announced today the completion of the previously announced transaction for FCX and its joint venture partners to acquire from OM Group, Inc. a large scale cobalt chemical refinery located in Kokkola Finland, and related sales and marketing business. The joint venture will operate under the name Freeport Cobalt and FCX will be the operator with an effective 56 percent ownership interest, with the remaining effective ownership interests held by its partners in Tenke Fungurume Mining, including 24 percent by Lundin Mining Corporation and 20 percent by La Générale des Carrières et des Mines (Gécamines). The acquisition enhances FCX’s cobalt marketing position, product portfolio and product development capabilities and provides direct end-market access for the cobalt hydroxide production at Tenke.

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