BUDGET CUTS
US-diversified miner Freeport-McMoRan (FCX) on Thursday again laid into its 2016 capital plans, advising that falling copper prices and lower US production levels would result in about 10% of its US jobs being terminated. The Phoenix, Arizona-based miner trimmed its mining budget by 25%, or $700-million, reducing its total budget, including that of the oil and gas division, by 29% on July estimates to $4-billion.
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