PHOENIX, AZ, October 15, 2013 – Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today a notice to redeem on November 15, 2013 at par all of the outstanding McMoRan Exploration Co. 11.875% Senior Notes due 2014 ("Notes"). Approximately $299.2 million aggregate principal amount of Notes is currently outstanding.
Holders of record will receive the principal amount together with accrued and unpaid interest from May 15, 2013 to the redemption date. FCX expects to record a gain to net income of approximately $8 million in the fourth quarter of 2013 in connection with the redemption. The Bank of New York Mellon Trust Company, N.A., as trustee, has distributed to the registered note holders written notice of the terms of the redemption.