New Mexico to require Freeport-McMoRan to reduce third-party guarantee
Given Freeport-McMoRan’s deteriorating financial situation and failure to pass the Mining Act Financial Soundness Test, the Mining and Minerals Division (MMD) has requested that Freeport reduce its third-party guarantee to cover the company’s financial assurance obligations at the Chino mine. In a letter dated August 12, MMD requested a “Certificate of Face Amount Adjustment to […]