Item 8.01. Other Events.
On
Under the terms of the transaction, FCX and its noncontrolling interest partners
will have the right to receive up to
This specialty cobalt business was no longer strategic to FCX following the sale of its interests in Tenke Fungurume in 2016 and the sale of its cobalt refinery in Kokkola in 2019.
FCX's share of net proceeds, excluding contingent consideration, approximates
The financial contribution of the business was not significant to FCX's financial results during 2020 and the first half of 2021.
FCX expects to record a gain on the transaction in its third-quarter 2021 financial results.
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