PHOENIX--(BUSINESS WIRE)-- After the close of the market on August 27, 2015, Carl Icahn filed a Schedule 13D regarding the acquisition of interests in Freeport-McMoRan Inc. (NYSE: FCX).
FCX maintains an open dialogue with our shareholders and welcomes constructive input toward our common goal of enhancing shareholder value.
Earlier today, FCX announced revised capital and operating plans in response to the recent decline in commodity prices resulting in reduced capital expenditures, lower production levels and lower operating, administrative and exploration costs. Today’s actions, along with the August 5, 2015 announcement of reduced oil and gas capital expenditures, are the results of the previously announced review of operating plans. The steps we are taking to reduce costs and capital expenditures will strengthen our financial position during a period of weak and uncertain markets and preserve our large resource base for improved future market conditions.