Freeport lays off 650, slows operations at Chile's El Abra mine

Arizona-based mining company Freeport-McMoRan said on Wednesday it was dismissing some 650 workers at its El Abra copper mine, in Chile, and partially suspending operations at the complex until mid-September as it cuts mining rates in half. Last week, Freeport, which owns a 51% stake in the mine in northern Chile, became one of the first big global miners to announce it was slashing production because of slumping copper prices.