A one-off charge of $14 billion related to the acquisition of Phelps Dodge, has pushed Freeport-McMoRan Copper & Gold into a fourth-quarter 2008 net loss of $13.9 billion, the company announced on Wednesday
Stripping out those special charges, the company made a profit of about $23 million.
In response to weak market conditions, the company is deferring most of its project development activities, including the $500 million Climax molybdenum mine restart in Colorado and the $450 million El Abra sulphide-deposit development in Chile.
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