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Freeport 1Q profit dips on projects and expansion costs

April 18, 2013

Phoenix-based Freeport-McMoRan Copper and Gold Inc. reported a drop in first-quarter earnings as it spent more on new projects and financing its expansion into oil and gas production. First-quarter profits of $648 million, or 68 cents per share, compared with $764 million, or 80 cents per share, in the same quarter last year.

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