Freeport-McMoRan Defers $1 Billion Worth of Mining Projects in Arizona and Colorado

SUGAR LAND--November 12, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--In a move to conserve cash in a down-trending market, Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX) (Phoenix, Arizona) has delayed development on several copper and molybdenum mining projects in Arizona and Colorado because of a drop in commodity metals prices and the deteriorating global economy.