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Freeport-McMoRan faces $1bn idle rigs cost

US minerals giant Freeport-McMoRan is to take a $1 billion charge relating to idle rigs over the next two years as the company unveiled an overall $12.24 billion loss last year and chopped capital expenditure.

Full year loss: Freeport-McMoRan sees $12.2 billion loss
Full year loss: Freeport-McMoRan sees $12.2 billion loss
  • Eoin Ocinneide & Luke Johnson
Published 26 January 2016, 14:06Updated 26 January 2016, 18:27
Americas