Freeport Reportedly in Talks to Buy Arizona Smelter
October 26, 2022
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Freeport-McMoRan Inc. (NYSE:FCX) is in talks about buying an Arizona copper smelter from Grupo México, S.A.B. de C.V. (BMV:GMEXICO B) as the US mining giant seeks to increase its domestic processing capacity, according to people familiar with the matter. Executives from Phoenix-based Freeport recently toured the Hayden smelter -- owned by Grupo Mexico unit Asarco -- to appraise the operation, said one of the people, who asked not to be identified because the discussions are private and may not lead to a deal. Grupo Mexico and Freeport both declined to comment.
Grupo Mexico, S.A.B. de C.V. is a holding company. The Company's principal activities are in the mining-metallurgic industry, the exploration, exploitation and benefit of metallic and non-metallic ores, multimodal freight railroad service, and infrastructure development. The Company's business lines include Mining, Transportation and Infrastructure. Its Mining Division is represented by its subsidiary Americas Mining Corporation, whose subsidiaries are Southern Copper Corporation in Mexico and Peru, and Asarco in the United States. Its Transportation Division is represented by its subsidiaries Infraestructura y Transportes Mexico, S.A. de C.V. and Grupo Mexico Transportes S.A. de C.V. Its subsidiaries are Grupo Ferroviario Mexicano, S.A. de C.V., Ferrocarril Mexicano, S.A. de C.V., Ferrosur, S. A. de C. V., Intermodal Mexico, S.A. de C.V., and Texas Pacifico, LP, Inc. Its Infrastructure Division is represented by its subsidiary Mexico Proyectos y Desarrollos, S.A. de C.V.
GRUPO MÉXICO, S.A.B. DE C.V. 
